Bitcoin’s New Price Channel! Alts Coiling For A Bull Breakout!

Bitcoin’s New Price Channel! Alts Coiling For A Bull Breakout!

Now that we have a few more days near $19k, BTC is showing a new price channel that will help give us price direction. There is now more evidence that we are still in a continuation, but if we stay much longer the actual correction will be brutal! Alts have changed direction from falling to consolidating. This is where we start looking for entry points. Many alts are hugging the 50 day sma on a downswing which is very bullish. As our waves go up and down, a natural upswing after following the 50 down will provide a fantastic entry point for many alts. Once several of these go, more will follow and alts season will be here. Entries are looking good and our patience will soon be rewarded!

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