BTC Update
Bitcoin is currently hovering around $8190 , and 24 hour trading volumes at 5.8 billion USD. Bitcoin has fallen slightly from yesterday’s high of $8464. There still sees more upside in $BTC in the coming weeks.
It seems that the going adive would be to hold a large amount of $BTC, and for low leverage longs. The targets for filling these longs would be ebtween between $7900-$8100. Longs at the current price seem to have a risk/reward of 1.9.
If long bids are filled at this range with a target of the bearish orderblock above $9000 and a 5% stoploss (see chart below), The risk/reward ratio of would increase to 2.75. these These long bids should fill int he coming week or two , thus providing the spark for the commencement for the next move upward for $BTC.
However , the outlook on the alt markets right now is looks grim in terms of the upside it would offer vis-a vis $BTC. ETH/BTC would be a very good indicator for new money flowing into alt markets but, as of right now, the general idea would be to maintain a holding ~75% $BTC.
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