Analysis:- Concurrency Prepare for the Next momentum.
The main coins are in the low volatility consolidation phase. they have been trading all weekend long. The strong rally of last week reached short term overbought territory. The Bitcoin got close to its all time high near the $3000 level. Most valuable coin is still showing strength holding well above the primary resistance. which is currently found at $2650 As the long-term picture just reached neutral stance after the one month long correction at least a test of the prior high is very likely.
BTC/USD, Daily Chart Analysis
The other major coins are also lower today. but they are holding on to most of their recent gains although Ethereum, Monero, Litecoin, Ripple are still in a down trend that has been dominating trading since June. Dashcoin remains the strongest major besides Bitcoin. while Liteocin and Ethereum Classic are still in different trend phases compared to most of the other majors coins. but As several buying opportunities are developing in current correction. let’s see how the major are looking before at the end of this month.
I think the market will keep raising after August so its a good time to make smart investments in the market.
Dude, with all this changes i guess technical analysis are not working at all.
Very nice post