Bitcoin and Altcoin Index Charts are Published By Philosof
https://www.tradingview.com/u/Philosof/
Bitcoin chart review
Comment : As expected, BTC dumped to 8500, which potentially can extend down to 8300 - 7550 to form right shoulder of inverted H&S bullish pattern. Now making a dead cat bounce from 8500 (near 0.5 Fibonacci retracement). Size of bounce unpredictable, but strongest resistance left at ~9250 zone. Most probably will wick above 9k to fall again. Then either right shoulder completion or higher low and another test of ~9250 to complete retracement. Macro still bullish.
P.S. Buy the dips, but don't risk too much, as this might not be the bottom yet 🤨
Remember the big picture ✊
Resistance: 8970 - 9070 - 9260
Support: 7555 - 8000 - 8330 - 8500 ✅
😱 Fear & Greed index: 39 (<= 41 <= 44 <= 46 <= 46 <= 43)
👑 BTC Dominance: 64.2% (<= 64.5 <= 63.2 <= 62.8 <= 62.6)
⚙️ 24h Volume: $198 billion (<= 169 <= 156 <= 142 <= 138)
** Altcoins index
Comment : Same picture here at altcoins index. Significant volume growth indicates potential bottom. Bounced from 200 EMA = 835 support. That is why I recommend to start accumulation of alts, and long altcoins index at 670, while being ready it will dip lower to ~619 and ~597. So build a ladder with order at each step exponentially bigger than previous one. Current bounce should get to ~700. If grow above, might even wick to 735.
💡 Altcoins Index combines charts of ETH, EOS, XRP, BNB, TRX, LEO, BCH, BSV, and LTC (each coin is weighted equally). You can trade it at FTX exchange (co-owned by Binance) with up to 100x leverage. Register with this ref link to receive 5% discount on all fees - https://ftx.com/#a=2430274
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