Bitcoin’s recent parabolic advance is beginning to show signs of slowing as it fights resistance near last July’s peak. It’s still unclear whether a pullback will be coming, or if euphoria will continue to fuel this surge.
The altcoin marketcap has hovered in the same range for the last two weeks. This may be the result of traders waiting for Bitcoin to stabilize before the start of an altseason.
Here are short-term coins with events during the next two weeks listed on. They may offer opportunities to traders waiting for Bitcoin to cool down and kick off an altcoin market rally.
| BCH has been in an uptrend for all of 2019. Currently, it is consolidating under a daily order block formed during the last spike upward.|
Price is some distance above the longer term trendline, which leaves room for a drop. However, the last time price touched the weekly zone below, we saw a sharp bullish reaction. This also formed the start of a shorter term bullish trendline.
A breakout of the overlying support could reach up to the daily order block around 0.072 if previous patterns repeat. The launch of the P2P marketplace on Tuesday could start providing the momentum for another move upward.
Bitcoin Cash (BCH)
$432.04 (-3.25 %)
฿0.05049860 (-0.95 %)
$7 697 936 431
$1 813 075 488
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.