After breaking through the buyers’ stop losses, Bitcoin and altcoins started a confident growth. BTC dominance is still at high levels, so even if BTC slows down and stays at current levels, altcoins may continue to rise. There have been few short liquidations so far, so there is still plenty of fuel for growth. There are a huge number of liquidations around $29,000 – $30,000 for BTC, so we need to keep a close eye on that level.
In altcoins, there have been enough liquidations, and some short sellers have become too relaxed and forgotten that the market can grow quickly.
The speech by a member of the Federal Reserve, Barr, yesterday was quite positive, which partly supported the market.
News
There has been some outflow of deposits from US banks, but it is not critical, especially since the outflow is not only from small banks but also from large ones. There was a risk of intensive transfer of deposits to large banks, but this has not happened yet, reducing the likelihood of new bankruptcies. Today is a completely empty day, there is no news.
Basic scenario
Trading from purchases is difficult to imagine, a reversal back down is unlikely until the market breaks through or at least touches significant levels. But corrections within the day can be aggressive.
It is logical to hold altcoins. For those looking for opportunities to buy during the American session, there will be sufficient volatility to buy at slightly lower prices. I don’t even consider an alternative scenario today, and it is worth considering the correction as an opportunity to buy.
The views expressed in this article are solely those of the author and should not be construed as official statements or representing the views of the company. The author is solely responsible for any errors or omissions in the information provided. The information contained in this article is provided for informational purposes only and is not intended to be investment or professional advice.
