We shared clear signs of volatility for BTC and Altcoins ? but so far there has been little volatility. The market could be coiling up for a huge move coming soon (as we shared on BTC chart in prior post shown again below) or it could mean we?re still in the ?consolidate and drop? pattern we saw during most of 2018 ? most notably at the $6000 level.
In either case there is little support for the bullish case from price action like this..
MARKET LEADERSHIP BTC AND ETH
We share updated weekly charts from BTC and ETH to show very clearly what?s going on with the market leaders ? and it?s worth noting that BTC continues to be more bullish than ETH ? to use that?s a measure of market sentiment that 1) BTC is the KING still and 2) BTC might outperform altcoins on a real move higher unless ETH plays some serious catch up.
Should ETH be used as a guage for altcoins overall? Proabilities say YES overall since they always have ? until they don?t?
MIDCAP ALTCOINS
Every day there?s some low volume altcoin that shows a strong move ? HOLO most recently, but, generally patterns haven?t anticipated these moves and they are rarely sustained. Those are signs of market manipulation and not safely tradeable.
On the other hand, more proven mid cap altcoins that have decent volume are worth watching as they are not quite as easy to manipulate ? we share DOGE?s chart as one to watch as it’ has been an indicator for the altcoin market in the past ? and might be again soon when the current patterns confirm or fail..
