Crypto Markets Flat, But Leading Indicator Bitcoin May Be Building Up Momentum
Where, o where, are those juicy cryptocurrency returns? That’s the question top of mind of crypto investors. We witnessed some phenomenal multifold rises in the period May till August, but all that is gone now. For how long? From time to time we publish a sneak preview of what gets out of our research in the public domain.
First and foremost, we have to work with the insights we shared earlier this month in Why October of 2020 Might Be Decisive For The Secular Crypto Bull Market
That’s why the next few weeks, according to our analysis, will be crucial. Whatever happens between now and the first week of November *might* set expectations for the next stage(s) of the bull market.
We are not forecasting anything here. We are not saying that the first week of November 'will' forecast the next trend.
We are saying that price action in October and November, as the reversal resolves, could be decisive. And it will all depend on where we’ll stand in this complex chart setup.
IF there is a bullish resolution we do know that the crypto market will disproportionately favor a few select coins more than the majority. As said in Real Last Chance To Get Into Some Select Top Coins
If (a big IF) BTC is able to move above 12.5k USD, the real breakout level as per our crypto market readings, it will be the real deal. It will bring BTC fast to new all time highs.
This would imply green light to enter the crypto market but not all coins are equally worth buying. We have a top 6 list with coins that are worth buying, and that will be multi baggers in the next 3 to 6 months. Yes, multi baggers but only for those that are brave enough to enter now. We stick to this forecast, and we will provide much more detail in the next weeks as we prepare our new 2021 forecasts and update crypto predictions like our XRP forecast.
Instead of guessing we want to closely follow up on these crypto market calls.
And the BTC chart is looking increasingly constructive. This may be subject to change, and who knows, next week might look different. But for now BTC, the leading crypto indicator as per our research, suggests a solid base.
Note how the yellow long-term reversal is coming to an end, right at a time when BTC is getting more constructive. Exactly what it needed.
Watch out though once 10k is breached, might get ugly, low probability but never forget considering the potential downside.
Disclosure: Note that our research uncovered the next multi-baggers, and we gave detailed guidance to our premium crypto members in an alert sent on October 9th called ‘Green light for new ...
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