My fellow Cryptocurrency trader, I hope you are having a wonderful day.
Bitcoin retraces once more and the action continues to be a fluctuation, sideways; market noise. Not much change.
Nothing changing is positive because the bigger structure continues to support a bullish wave. An advance showing up next.
Notice the altcoins have been sideways now for almost two months. Many breakout bullish, strong breakouts, while the rest continue to consolidate. No major breakdowns. Bullish breakouts, bullish resumptions, uptrends and consolidation at bottom prices.
Bitcoin becomes favorable once more up to 10X. This high risk of course, it is easier with 3-5X, but this is possible because of the strength of the asset at this point.
Since we are back below $70,000, a new entry is possible. And we can easily expect another rise in the coming days. The wait shouldn't be long and this makes for another easy trade. The market always offers a second chance.
On a different note, Gold (XAUUSD) continues to be extremely bearish and Bitcoin and Gold have a negative correlation. As Gold continues to move down, Bitcoin will continue to grow.
This is a friendly reminder.
Use the retrace as an opportunity to buy-in, rebuy and reload. All the altcoins we've been tracking continue to show favorable conditions. Buy and hold.
Namaste.
✅ Trade here on $BTC
