Why I'm BULLISH on alts?! Bullish wedge / Bullish div RSI
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Hi all,
I've got some requests about my thoughts about altcoins. Here you are. I don't like to many words so if you have questions leave a comment below.
Right in front of you the daily chart of the total marketcap excluding BTC.
This is why I'm bullish on alts
1. Last period we're seeing the chart is drawing a bullish wedge as pattern, and I like the shape of it. Outcome is mostly (70/30) upwards.
2. There is a bullish divergence on RSI. What means: the value on the chart decreases while the RSI rises. It means there is a reversal in price (upwards) coming.
A bullish pattern is nice but when there is a confirmation on the RSI of that outcome that's a great signal.
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I've got some requests about my thoughts about altcoins. Here you are. I don't like to many words so if you have questions leave a comment below.
Right in front of you the daily chart of the total marketcap excluding BTC.
This is why I'm bullish on alts
1. Last period we're seeing the chart is drawing a bullish wedge as pattern, and I like the shape of it. Outcome is mostly (70/30) upwards.
2. There is a bullish divergence on RSI. What means: the value on the chart decreases while the RSI rises. It means there is a reversal in price (upwards) coming.
A bullish pattern is nice but when there is a confirmation on the RSI of that outcome that's a great signal.
Thanks for your support by liking this idea.
Click on the follow button for more idea's.
Note
my view on litecoin, check the idea
Note
no big changes yet for the total market cap excluding btc. Still in de bullish wedgeNote
small update
Note
Updated idea:
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