Yesterday was a great time for alts. With Bitcoin consolidating around the 34.5k area, investors saw their chance to move funds into alt coins, leading to a very strong day.
It's likely that the consolidation phase of BTC will soon come to an end. In my most recent BTC signal I argue that there's a high chance for BTC to go down rather soon. Check the link below for reference:
Nevertheless, there's a possibility for a bullish break out as well. Therefore the neutral outlook.
In case of a bearish move of BTC, look at the 0.064 area. If we close below it on a larger time frame it could be the signal of a bearish reversal.
In case of a bullish break out of BTC, I'm looking at the 0.069-0.07 resistance. A move above it could signal a new bullish period for TRX.
Keep a close eye on BTC when trading alts. Happy trading!
It's likely that the consolidation phase of BTC will soon come to an end. In my most recent BTC signal I argue that there's a high chance for BTC to go down rather soon. Check the link below for reference:
Nevertheless, there's a possibility for a bullish break out as well. Therefore the neutral outlook.
In case of a bearish move of BTC, look at the 0.064 area. If we close below it on a larger time frame it could be the signal of a bearish reversal.
In case of a bullish break out of BTC, I'm looking at the 0.069-0.07 resistance. A move above it could signal a new bullish period for TRX.
Keep a close eye on BTC when trading alts. Happy trading!
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