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.
| From early April to the middle of May, NEO’s price plummeted to dismal levels below previous lows.|
Price may have recently found a bottom at 0.001209. The bounce from this level formed a higher low at 0.001346 and has held so far. Price continues to consolidate and form an ascending triangle under a weekly level providing resistance.
The Ichimoku cloud is also showing some bullish signs. A recent bullish TK cross has just occurred. The lagging span is also poised to break through the current price, which provides more support to the bulls.
Traders looking to capitalize on any excitement caused the mainnet upgrade today may want to begin looking for entries in the current region and target the daily orderblocks above.
$13.43 (-4.78 %)
฿0.00156955 (-2.32 %)
$872 840 801
$555 914 847
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.