After a slight pullback in the recent Bitcoin price run, the bullish trend has continued, and continued strongly! Having a look at the charts, it is looking increasingly likely that the next stop will be $10,000 – at which point we should find some solid resistance based on volume in recent months.
For now, Bitcoin is looking very strong, but Graeme is hesitant about opening any new positions just yet. The safer play fo those who may have missed this recent leg up would be to wait it out and see what happens at $10,000, at which point we can re-evaluate.
The altcoin market is also starting to look a lot healthier after many, many months of incessant blood. Graeme looks at the overall market capitalisation of altcoins excluding Bitcoin, as well as the Bitcoin dominance chart, which seems to be showing a rounded top. Both of these charts imply good things for altcoins, which would be good news for the avid altcoin trader.
Find out exactly why Graeme says what he says in this week’s 8-minute Market Analysis:
You can also find it on our Podcast page using one of the below links to your favourite platform:
SPOTIFY (James’ personal favourite, even with an iPhone!)
ANCHOR (The host service)
Global Crypto is not a registered financial advisory, and the information provided on this website and its subsidiaries is for entertainment & informational purposes only. Each reader is responsible for their own financial decisions, and Global Crypto cannot be held responsible for any decisions made by its readers and users. Global Crypto encourages all readers to consult a professional and registered financial advisor before making any financial decisions.