Hello my friends Welcome Back !
In this post i'll talk about Bitcoin & it's support/resistance and few Updates on Cryptocurrency .
In my last post I've told you all about the Inverse Head & Shoulders Pattern that if it completes it's right Shoulder then we may see a Breakout from BTC . So this is what you see BTC now,which has crossed $8 k & touched &8.5k mark also & currently at $8220 {at the time of writing}.
WHAT IS NEXT FROM BITCOIN, WILL IT GO UP OR DOWN ?
BTC has surged well above $8,000 and it even touched $8500 mark but it failed to break that resistance and got a pullback . If BTC crossed that resistance level then according to many Technical Analysts it was sure that it would definitely touch $9000,which it failed to do so.
According to Analysis, the Bullish Flag formed by BTC is a sign that Bullish Trend is coming to an End.
We've these supports now-
8000 , 7800 , 7600 , 7300 , 6800 (Dollars)
& a Major one at $5700 .
It's main resistance is at-
8550 , 8625 , 8900 , 9360 (Dollars)
See the chart Below For Further Info.
WHY ALL ALTCOINS ARE DOWN ,WILL THEY RISE ?
We know that each time BTC dumps Alts follow the lead but then why aren't they rising when BTC is Up?
It's due to BTC dominance which has increased from 38% to near about 47%,which means that the total money ivested in BTC is 47% and the rest for Altcoins is only 53% .
Let BTC consolidate first then we may say huge gains in Alt coins too.
We saw some good jump in few of the alts as well or i can say almost every altcoin saw a jump in price including Tron,Verge & IOTA on the top to gain 50%jump in price.
A NEW MINING SOFTWARE WHICH CAN MINE EVEN ON A LOW END PC OR LAPTOP
'Honeyminer' is a new Crypto Miner which can mine crypo even on low end PCs & laptops.
No matter how low mining pprofits has gone this software lets users leverage their CPUs and GPUs to mine crypto.
So that they can earn a good amount of Profit.
According to the Honeyminer website,it leverages the computing/GPU power of the user ,it works automatically to the most profitable cryptocurrency algorithm and automatically converts those coins into bitcoin payouts.
THANKS FOR READING ,
NOTE-CRYPTO MARKET IS VOLATILE & ANYTHING MIGHT HAPPEN SO ALWAYS TRADE SAFELY USING STOP-LOSS & BE ALERT FROM SCAMS.