$BTC
Quick BTC update among the alt mania
Alts typically do well after BTC has legged up and consolidates, forming a corrective structure. Although we haven’t seen that too much this cycle (it’s been the “BTC show”) we are seeing it now - which is ace.
However, the *best* part for alts within the correction is the retrace back to the upside, before a *potential* move back down, to complete a 3 legged move (ABC type correction).
IF (note the capitalisation and stress on the word if, signalling to readers that this is only a potential outcome and not set in stone, or an absolute statement) - IF there is a final move down pending, this is where alts can take a bit of a knock, so just something to keep an eye on. I’m watching that 121.6k level.
That final low that I’ve mapped out in the squiggly might come in the form of a higher low or a lower low, doesn’t matter too much.
GL
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