BTC failed at making a new wave cycle high (so far) and now the BEARS have the ball with $9500 the trigger for what could be a BIG DROP for BTC and altcoins. This means – PROTECT PROFITS but it also means buying opportunities at lower prices – possibly MUCH lower so caution advised!!
Our last post focused on potential bearish crossing of the key moving average indicator for BTC. We indicated it would add to the bullish case if BTC could hold most or all of its recent gains which would avoid a moving average cross.
As we start a new week, the big question we posed in our last post about XBT futures driving the crypto market has not been clearly answered. That SHOULD change this week and the current pattern set up is worth reviewing.