Bitcoin is about 5% down on the day so far, equating to a $3,500 loss on the day so far. Some of the altcoins on the other hand, are down more than 10%. With $BTC potentially holding at this level, could now be the time to get into those altcoins you’ve been wanting to buy for ages?
Day Is Improving For $BTC
The day is perhaps looking less bad than it could have been imagined earlier on. From Friday’s high price of $72,250, to the lowest price at $65,550, was a total 9% fall for bitcoin, equating to nearly $7,000.
However, as the day has moved on, the support at $65,550 has held, and the price has reversed back above support at $68,000, with another nice long wick starting to develop beneath.
Just Another Wick Down?
The thesis is that this is just another in a series of wicks to the downside in the $BTC $BTC . If the price follows the same pattern, this will be the fourth such wick down in the last 11 days. All the previous wicks were bought straight back up again.
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🔥Disclaimer : 👉 This is my personal analysis for educational purposes , Buy/Sell/Trade at your own risk. I am not a financial Advisor.
