FRIDAY OVERVIEW - 2/02/18 - Cryptocurrency Market - BTC & Little Brother LTC
Based on the volume, the size of the pullback, and all major support levels being held I am going to call this the bottom. There is still a case for bearish continuation but that case is less than 25% in my eyes.
February and most of March are going to be consolidation months.
We are entering a consolidation/ranging zone for Litecoin as well. During the $50-$60 consolidation it was a very clear buy for me, and I was telling my fellow traders. Don’t miss this chance again, we’re going to enter a very good market condition for 2-4 day swing trades.
Market cap reference chart. Notice where the support trends meet the real support levels.
Market cap volume is forming a rounded bottom formation.
Best mid-term alts still remain: NMR, LBC, 1ST, DGB, STORJ, PAY
That's all for today, I'll be posting more updates next week. Enjoy your weekend everyone 🙂