The Speculative Trade That Can't be Ignored
The large crypto market continues to hover in a fairly tight range, consolidating recent gains for most key cryptos. Today’s charts show EOS , ZEC and ETH are joining the more bullish looking altcoins and offer solid trade entries now. We are still watching many smaller altcoins that have made a little noise recently but for now, these larger altcoins offer the stronger set ups.
From the bearish side of things - keep an eye on XRP and XLM as they continue to lag — but they are not crashing to much lower levels as patterns say they COULD, so while they don’t offer a high prob trade they are not spoiling the overall slightly bullish edge to the crypto market.
AND THEN THERE’S BITCOIN - A SPECULATIVE TRADE TO ENTER NOW?
History says if altcoins are going to meet bullish targets, Bitcoin is high probability to move higher too —even if the charts don’t currently show a strong edge for BTC. So if you believe in The King — altcoins say BTC is tradeable using a “speculative trade strategy” now (chart shown below). It’s not the strongest chart but you certainly have history on your side and the risk is limited. On the other hand, if BTC refuses to move up towards $4,000 and $5,000 soon or worse, tanks hard below $3500, best to at least consider tightening stops on those recent profitable altcoin trades. Either way watch BTC — Always….
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