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
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.
To conclude, this is what I believe will occur from here on:
ALTBTC prices will experience a bull cycle, whilst BTC remains fairly stable and largely range-bound. BTC will break above the range, leading to a larger move towards $6k resistance, during which alts will be sold off.
— Nik Patel (@cointradernik)
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.
However, unlike the altcoin bull run of Jan ‘18, where we should have been paying attention to ALTUSD prices, because of the decline in BTC, we now need to revert attention to ALTBTC prices.
The next altcoin bull run will not be like January 2018.
— Nik Patel (@cointradernik)
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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