[ Trading ] Bitcoin is still in Consolidation, Alts are getting ready for a breakout

in #trading6 years ago

Bitcoin is still in consolidation and has been for the whole weekend. But what is looking more interesting are the Altcoins. I am watching Ripple and Ethereum. Thinks are getting very very tight. Dan from The Chart Guys think we will see a break today.

Will the break be UP or Down?

Here is Dan from the Chart Guys with his take:

Do you think the ALTS will break UP or DOWN today?

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I vote for a breakout UP today.

Hey @colinbrazendale, I am building this website about crypto and I'd like to know if you'd like to join our mailing list?

Yes, I would! Where is it?

It's not live yet, it should be in a month or so though, thanks :)

Colin U just received a free upvote and resteem from @steemwhalepowerplease upvote this comment to help everyone who uses this service if you want me to remove this comment reply remove

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The opening day for many retail traders and investors proved to be relatively slow across the board, with BTC only managing to range $100 to the downside since this morning. Bitcoin continues to respect the channel of $8,060 - $8,310 with price not testing either of these levels over the past 24hrs.

The 4hr chart shows the clear consolidation and minor channel that price has formed since being rejected at the $8,600 level. It is still unclear of which way price will break but i believe the longer we trade within this region, the strong the break will be, either to the downside or the upside. I believe we could range within this price region for the next few days before retesting the $8,600 level towards the end of the week as the markets wake up and investors are very active on the charts.

Screen Shot 2018-07-30 at 10.55.37 pm.png

So we broke to the downside in a big way. I think we will go down more, but hope that we will make a higher low from what we saw at the end of June. Like 5900.

I totally agree. If we are able to create a lower high that will be very positive for price rising in the future as that is the necessary pattern of an uptrend.

follow and upvote me back please

Thank you for your support @javee311

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