What will be the next bullish cycle altcoins? The opinion of the trader

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2019-03-14 19:00:16

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What will be the next bullish cycle altcoins? The opinion of the trader

The stock market slowly begins to return to life and serve the first signs of the presence of bulls. Recent price movements of digital assets «brought out of hibernation» top trader with BitMEX. Another famous cryptanalyst Nick Patel recently explained on Twitter that adventures the next few months for holders of a crypt.

the

Where to invest money

Nick has seven years of experience investing in Bitcoin and «know what to expect from the market». According to him, he has witnessed numerous cycles of growth and decline altcoins. However, they did not always follow the main cryptocurrency.

The prices of altcoins relative to Bitcoin will enter into a bullish cycle then the Bitcoin will stay relatively stable in a fairly wide channel. After a while BTC will break through the upper line of the channel that will lead to an increase to resistance of $ 6,000. During this jump the price of altcoins will fall.

Unfortunately, the major cryptocurrency unlikely to break the line of $ 6,000 this spring. Bitcoin remains relatively stable, so traders should pay attention to altcoins.

Patel says that the next bullish cycle violas will differ from the previous. Mainly due to the temporary shift in the formation of the uptrend.

However, unlike bullrun altcoins in January 2018 (when the need was to focus on the price of the coin relative to the dollar), now we have to focus on the ratio of the value of cryptocurrency to Bitcoin. Following the uptrend on altonah is unlikely to be similar to the previous one.

Now the number of short positions on Bitcoin rapidly at every attempt of the bulls to break the resistance of $ 4,000. Most likely, we will stay in this price area for a long time.

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