These 10 Altcoin Charts Are Showing Strength... buy into strength and avoid weakness.
馃憞1-13) Bitcoin broke out of the $94,500/$98,000 range as the U.S. inflation data came in line. Prices for used cars were only moderately higher, while owners' equivalent rent was only 0.2% (vs. 0.4% the previous month). This points towards some mild improvement, and the derivatives markets indicate an 86% chance of a 25 basis point rate cut next week.
馃憞2-13) As often, when Bitcoin declines into the inflation number, as the market worries about a potential increase in inflation, a flat number tends to be enough for prices to rally again. The Bitcoin grind will likely continue into year-end. However, we do not expect fireworks, as many investors will slowly close their books after the FOMC meeting next week. Nevertheless, there are plenty of altcoins showing strength relative to Bitcoin.
馃憞3-13) In financial markets, particularly in cryptocurrencies, the most effective strategy is to buy into strength and avoid weakness. Unlike the stock market, where...
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