FRIDAY OVERVIEW - 2/23/18 - Cryptocurrency Market - Bitcoin and Alts

nsepia (31)in #cryptocurrency • 7 years ago (edited)

Bitcoin can play out one of 2 ways in my opinion: https://twitter.com/PopTrading/status/966894344652316672

If 5k support holds, then there’s a chance of continuation.

If not then BTC is in trouble until the end of the year. I am personally selling 50% of my mid term positions and focusing more on swing/day trades until further bullish movement is confirmed (breakout of 12k)
btc retrace.png

Interest in bitcoin is approaching the 1 year trend-line, so if you are planning on holding for 2-5 years, this is a good time to start cost averaging into it (example: buying $50 worth every month)
btc interest.png

BTC dominance chart looks a lot like the SPR chart. What it could mean is that alts will lose even more value in the short term and then come back to today’s prices after BTC has bottomed out.
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