Take CAUTION with these ALTS : ALGO, LTC, XRP, HBAR
It's time to review which altcoins showed sign s of strength during the recent new Bitcoin All Time High (ATH) ... and which showed no strength.
Together with the failed breakout we observe on Algorand, THESE altcoins didn't fare much better. There are a few more, but let's focus on these alts for today:
What we're comparing this chart to, is the obvious increase we have seen on BTC (new ATH) and the following increases across other altcoin markets:
During the previous cycles; we often saw the altcoin market rally a week or two AFTER a new BTC peak.
From this, we can determine that most of the bigger altcoins (by market cap) should have rallied by now. In conclusion; we need to re-evaluate the fundamental arguments for these alts - why were they not able to show signs of strength like other alts? Why were the sellers so overwhelming compared to other alts?
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ALGOUSDT
BTCUSD
XRPUSDT
LTCUSD.P
UNIUSDT
HBARUSDT
Together with the failed breakout we observe on Algorand, THESE altcoins didn't fare much better. There are a few more, but let's focus on these alts for today:
What we're comparing this chart to, is the obvious increase we have seen on BTC (new ATH) and the following increases across other altcoin markets:
During the previous cycles; we often saw the altcoin market rally a week or two AFTER a new BTC peak.
From this, we can determine that most of the bigger altcoins (by market cap) should have rallied by now. In conclusion; we need to re-evaluate the fundamental arguments for these alts - why were they not able to show signs of strength like other alts? Why were the sellers so overwhelming compared to other alts?
_______________________
📢Follow us here on TradingView for daily updates📢
👍Hit like & Follow 👍
CryptoCheck
ALGOUSDT
BTCUSD
XRPUSDT
LTCUSD.P
UNIUSDT
HBARUSDT
評論:
TODAY: The weekly close on BTC and alts should give us a good indication on where the rest of the week is going:
