There's hope for Alts on top of the 100D EMA
Of course a very different mood today, 1st of the week following the massacre of the weekend. So what do we see here:
1) Alts.D trending nicely above the 100D EMA. => Today's candle close will be a good sign for hope.
2) BTC.D is losing ground while BTC is moving up and the Alts.D going up further. => Another good sign.
3) All Alts are in green, some breaching 50% gains already while most are in two digits.
So did the market recover, no? The market was oversold and now bouncing back. For a full recovery, we need to see Alts go above the 50D EMA, close above it then go and re-test it before going further north. This minimum needs a week, if not more.
I am sure everybody is extra careful this time, no high hopes but only good wishes.
1) Alts.D trending nicely above the 100D EMA. => Today's candle close will be a good sign for hope.
2) BTC.D is losing ground while BTC is moving up and the Alts.D going up further. => Another good sign.
3) All Alts are in green, some breaching 50% gains already while most are in two digits.
So did the market recover, no? The market was oversold and now bouncing back. For a full recovery, we need to see Alts go above the 50D EMA, close above it then go and re-test it before going further north. This minimum needs a week, if not more.
I am sure everybody is extra careful this time, no high hopes but only good wishes.
Unless you figure a way to make money while you sleep, you’ll work till you die.