Cryptocurrencies gained some support in the bullish trend

jelilu67 (58)in Steem Ghana • 3 years ago (edited)

source

From my observation over the past few weeks, cryptocurrencies have gained some strong uptrend momentum. Most of these altcoins have gained some strong support levels in the bullish trend movement.

Usually, with this kind of market, the price could just swing up and drop massively when there’s no support level to reject the price movements.

However, most of these cryptocurrencies have gained some strong support levels which further confirms the strong bullish market.

The BTC market seems to be re-accumulating after the strong bullish run. This price movement calls for a bearish trend reversal. Traders could be trapped in a huge fakeout. The market is just re-accumulating for the bullish run. The Bullish price movement is far from over. The price is anticipated to hit at least 70k before any reversal.

Some of the altcoins are still showing continuous bullish runs. This could be the beginning of the altcoin season. Usually, when it’s the altcoin season, BTC remains in its consolidation phase while the altcoins rally upwards and increase their dominance as well.

Steem is also behaving like the BTC. The price has gained some support at the 0.4 level. Let’s wait patiently and see what could happen with the Steem price.