I believe Altcoins will experience accumulation through the rest of the year with breakout in the fall and start of a massive bull run. Perhaps they are left in the dust yet again as bitcoin experiences the beginning legs of the bull market. To me this reminds me of a basketball bouncing and if you drop a basketball on the concrete it will bounce and each bounce has a lower high all the way until it is nearly dead on the ground, yet if given energy (fresh capital inflows - profits from bitcoin moving up) it will start to bounce again.
A slow and long bleed in alt coins would really cause a lot of people to capitulate after underperforming in 2019. I could see this happen again, yet in fall all of those losses could be erased in a matter of weeks if not days.
This is for my own reflections as a trading journal and not to be taken as financial advice. I am using it for educational purposes to see how I progress in my abilities and skill as a swing trader.
A slow and long bleed in alt coins would really cause a lot of people to capitulate after underperforming in 2019. I could see this happen again, yet in fall all of those losses could be erased in a matter of weeks if not days.
This is for my own reflections as a trading journal and not to be taken as financial advice. I am using it for educational purposes to see how I progress in my abilities and skill as a swing trader.
Nota
Another scenario I see is another two month decline in October to December Timeframe with a breakout in January 2021, which would be pretty much exactly 3 years since the start of the bear market. Jan 2021 could start the bull market in Alts with a breakout above the blue resistance line, this probably is the most likely scenario.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.