A prime crypto dealer is expressing bullish sentiment on one top-20 altcoin that’s up over 10% up to now week.
Pseudonymous analyst DonAlt tells his 53,300 YouTube subscribers that the worth motion of Bitcoin Money (BCH) on the day by day chart is signaling a bullish transfer.
“If you happen to go on the decrease time frames that appears like a breakout within the making…
You could have your construction right here sort of appears like an ascending triangle, no matter you need to name it, doesn’t actually matter…
The one factor that you simply actually have to remember, or that’s necessary for the commerce, is that you simply put in a low, you retested it and now we’re placing in the next low with the identical highs.”
On what might show his bullish thesis for Bitcoin Money incorrect, the pseudonymous analyst says,
“If this goes again under $200 or $180-ish, $180 being the higher invalidation, I feel it’s cooked.”
In keeping with DonAlt, the worth trajectory of Bitcoin Money and different altcoins going ahead will closely rely on Bitcoin.
“My downside with the altcoins, my downside with my Bitcoin Money place is that like I take a look at Bitcoin proper now and I’m like ‘if this breaks down, like if this simply goes down, I’m going to get [screwed] and everybody else in altcoins are simply going to get [screwed as well].’”
Bitcoin Money is buying and selling at $236 at time of writing, up by a bit over 14% since Monday.
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