Weekly we will release a study on the trend of the main altcoins that are in Monnos.
This analysis is intended to guide your studies on the currency and help you make decisions about your investments.
The study below is not a guide to buying or selling. Manage your risk properly.
Bitcoin made the positive move that we expected in the past report.
Currently being traded at $ 10700 the cryptocurrency has appreciated about 9% since its fall to $ 9800.
Although it is a positive move, Bitcoin has a strong challenge in the $ 11,000 - $ 11,200 range.
So, we're pretty close to the resistance, watch out.
If you followed our latest reviews, you certainly managed to take advantage of the last week, since BNB and Bitcoin were the only ones we considered positive and good opportunities.
BNB appreciated by around 50% and Bitcoin by 9%.
Are you going to go easy on not accompanying us?
Bitcoin reacted positively in the $ 9800 - $ 10,000 region as expected.
It is currently trading at U $ 10700 and is very close to the resistances that are represented by the red and orange moving averages (EMA 200 & MA200).
Therefore, the $ 11,000 and $ 11,200 region is in turmoil.
Which makes us recommend general caution, only long-term investors should be positioned.
People who think only in the short term should realize profits from positions and protect capital.
Although Bitcoin has positively pulled the market.
None of the altcoins analyzed at the moment give good indications for the week.
If we analyze that Bitcoin is close to resistance, it makes no sense to open longer operations.
For if Bitcoin bounces off the $ 11,000 resistance, the altcoin market will retreat along.
Altcoin / BTC
Altcoin / USD
The report is being released in a day of euphoria, after all Bitcoin is rising and everyone is happy.
However, when looking at the projections, I don't see much reason to celebrate.
For Bitcoin will have to go from resistance to $ 11200.
If Bitcoin manages to break through, we will have a more positive scenario.
Otherwise, we will have a market crash and altcoins will suffer a little more than Bitcoin.
Pocket the profits you made in the past report and we recommend that you stay out of the market.
Long-term investors who prioritize Bitcoin should not worry about this moment.