Close
  • Loading ticker data...
Coin Prices →
Altcoin News

Bitcoin nearly broke $4000; here’s what that means for March

This week saw Bitcoin nearly break $4000 USD. What does that mean for the rest of the market? In this we explore trading in the top tokens.

Written by Bobby Atkins Published on

Recovery is not going to be a crazy upside where we just jump from place to place. Although this is a more frustrating recovery, it is much healthier long-term and ultimately better for the bulls. I expect we’ll see a new high or low in March and in time, I think we’ll hit a critical mass. Let’s face it, Bitcoin doesn’t do anything slow for a long time. For now, though, I think a slow grind is on the cards for at least the next month.

We’re going to trade sideways for a while, but that’s giving us confirmation that we’re on the next step of getting out of the bear market. From a momentum cycle, I think we’ve hit the bottom of Bitcoin.

Feb 21st – Bitcoin Daily Market Update+ROUNDING BOTTOM RECOVERY by WolfpackCrypto on TradingView.com

As Bitcoin figures out what it’s doing, I wouldn’t recommend fresh buys if you’re looking to go long in Ethereum. If you’re HODLing, good job – you’re doing a lot better in this trade than if you’re HODLing Bitcoin. Wait for signals and multiple confirmations before moving forward in any major buys or sells.

Just a quick update on Ripple: if Bitcoin faces a bear reversal, XRP is likely to tank. So don’t look to go long in XRP.

EOS has pumped well over the past two days. We want to see the bottom support hold for healthy growth. There might be a little pullback to the $3.00 range depending on what Bitcoin does.

Binance Coin has been a high flyer and as it stands we want to see $9.00 hold. Like Ethereum, we need to wait for signals before making fresh buys.

Stellar was making lower lows in a time where the market was making higher lows; it was showing a negative trend. We need XLM to show an explosion upwards for Stellar to take off.

For a more in-depth analysis, what the videos and trade smart.

And a final word of advice: don’t let the Twitter trolls give you any concern. Consider the coins, not the cons.

Feb 21st – Alt Coin Update (ETH, XRP, EOS, BNB, XLM) by WolfpackCrypto on TradingView.com

Written by

14 years experience across UBS Asset Management, Principal Global Investors and Factset Research Systems. In 2017 I left the centralized system to become a full time crypto-currency trader, researcher and internet publisher.@wolfpackcrypto

Related Articles