CRYPTO MARKETS AND BITCOIN TODAY :
Bitcoin is still on the ropes as it was yesterday. Many traps on the 1 hour timeframe have been executed. However, the 4 hour timeframe for bitcoin is still closing candles inside the triangle pattern. We also have yet to break our horizontal channel as well which could give bitcoin a massive measure move in either direction. bitcoin is bullish to return up to 40,000 is we break these patterns but the time for this needs to be in the next few days. if we break down, I’m expecting a dump to 30,000 and potentially a trap below that. I don’t expect us to lose 28000 and if we do, I’m expecting a quick recovery as buyers step in.
Altcoins have been trapping just as much as bitcoin but in a more exaggerated manner (exaaactly as predicted!). At this point, investing in altcoins is a dangerous task. Keep your eyes fixed on bitcoin to know the direction of most of the altcoin market.
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