Crypto Market Today

It's interesting to note, yesterday was the lowest BTC volume day of the year with the exception of the BTC bottom found April 6th- April 8th.

:point_up:Today, volume is slightly higher. We truly believe that volume preceeds price, it’s an extremely important indicator. With the 'volume bottom' holding up here, right at our taget, we should expect a bounce that retests the previous support.

If BTC bounces, many/most ALTs will bounce with it as well in our opinion. Many coins are back to April lows and many on Bittrex and Poloniex are at July-Aug lows of last year VS BTC. We think Bittrex and Polo will have a huge second half of the year:fire:

There are a lot of good day trade opportunities out there if you believe the market will bounce tomorrow, but we're in fairly high risk territory.

If for some reason BTC falls through support, ~$6800 is our bounce target. Anything below that and we’ll want to be hedged even further into USD/USDT in preperation of new lows.

If you recall, we looked for a marketcap bottom of $250bn dating as far back as February. After that level held up and bounced, we still see it as great support.

There are many more coins in the market since we tested that level, so the marketcap is artifically inflated. This is why I believe ~$300bn or so should be the equivilant bottom if the market is to stay healthy in any way.

For the first time this month, we’re net long and willing to hold BTC positions down to $6800 for a nice swing back to the top of the symmetrical triangle:pray: