Altcoin holders can earn, but you need to

Bitcoin price spikes have a very strong effect on other cryptocurrencies. Moreover, the direction of BTC is not too important – if the main digital asset changes its value too quickly, most altcoins are almost always doomed to fall. Over the past few months, this theory has been confirmed one hundred percent.

Tuzemun is not just for Bitcoin On a more global scale, the recent fall in Bitcoin cannot yet be considered a prerequisite for a change in trend. The asset has been holding for more than 11 thousand dollars for quite a long time, and the bulls quickly buy off cryptocurrency with any more or less noticeable sink. We recommend that you closely monitor this level on the chart when opening new trading positions.

According to trader Josh Ranger, a BTC breakout above $ 12,500 will trigger a new wave of cryptocurrency growth.

On the scale of the 15-minute schedule, the BTC still cannot break through above $ 11,760. A fall in trading volumes is a sign of an asset’s increasing volatility. Any fall below 11,138 dollars can be considered a prerequisite to the opening of the short. To fully confirm the new wave of growth, I want to wait for the line to break through 12,500 dollars.

Another cryptanalyst Luke Martin believes in the early season of altcoins. He recently posted on his Twitter graphs of several altos and noted that the coins may soon grow if the price of Bitcoin remains in one place.

Most altcoins are in free fall this week. Many of them paint several red day candles in a row. If the Bitcoin schedule remains relatively calm, cryptocurrency will soon be able to grow significantly.

Luke Martin (@VentureCoinist) July 12, 2019

“Alts have had a steady decline this week with the majority of them stringing together 4 red days in a row. “

“Today almost all of them are crossing above daily open or up about 5%. “

“If $BTC stays still increases chances that short term relief for alts can have follow through. “

Recall, on weekends, the situation in the cryptorinker is mainly bull. Unfortunately, this weekend was an exception to the trend.

Hopefully, by next Sunday it will be possible to talk about the beginning of the Altcoin season. In the meantime, buying them is not worth it, as there are still not enough signs of a trend reversal on coin charts.