Week 48 Altcoins Analysis

by Nov 28, 2022Altcoin Weekly Analysis, Weekly Analysis0 comments

According to the BTC.D chart, we can see that this indicator is near its crucial support point and that there is a potential of rising from this region (39.2% – 39%), implying that, if Bitcoin corrects, altcoins would correct more severely.

The Total2 index, on the other hand, has the potential to correct by hitting the resistance region of 480, which confirms the notion of altcoin correction. Of course, this change will not result in the formation of additional bottoms, but it will generate an appropriate position for Daytraders to take short bets.

Altcoins will climb less than BTC in the upcoming move because BTC.D will rise.

See also  Week 8 BTC Bitcoin Analysis

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