Bitcoin Altcoin Trader Price Analysis Week 24
Bitcoin Altcoin Trader Weekly Market Analysis
If you’re a Bitcoin Altcoin trader you have to be excited.
It’s like shooting fish in a barrel at the moment. Everything just keeps going up.
Bitcoin Market and Price Analysis
So again, further gains seem more than likely. In fact, no trader should discount a charge onto new all-time highs.
We have written about the longer-term bullish trend many times in previous market and price analyses.
For a good summary as why, refer to this article by Vinny Lingham. It’s a good, reasoned analysis. Certainly, his predictions were right on point.
Next key indicators to watch for are ZAR 12,500-13,000. Then watch out for the ZAR 15,000 level.
In a summary of chart indicators, we would be wary of any turn in sentiment. The price has risen far and fast. Sentiment can turn on a dime in this space. Keep your eye on the news.
Now, with that disclaimer, the chart patterns really signal that this rally is not over yet. While bullish pressure might be curbing, it still looks like buyers are going to push this price higher. The bull still has this market by the throat, so to speak.
As always, if you’re not convinced, then there should continue to be plenty of profit taking opportunities.
Altcoin Trader Ethereum Price News
In the altcoin trader market, things were more or less as usual. Key altcoin, litecoin has been following its established pattern. Litecoin and bitcoin move together. That’s what they do, and have done, for a number of years now.
However, Ethereum (ETH), in its short period, has tended to move opposite to Bitcoin. One could almost be considered a hedge against the other.
The ETH price has bucked this trend in weekly trading. Instead both Bitcoin and Ether have been marching onwards, toward new highs.
This has surprised a lot of people. The key USD mark to watch for ETH trading is US$20. This marks the point of overhead resistance for the digital currency.