Again BTC is trying to inch close to $11,500 dollar per BTC milestone and trying to breakthrough it until the next leg of passing through 12K levels. The resistance was actually the 11.7K price point and we will now have to stay at these levels for a while until the traders decides that these levels are not anymore the price and that we should go in the next price ranges.
As we can see in the chart and if we zoom out we are just going side-ways still but BTC remains to be bullish because it resists going down and is supported not to go any further down below 11.1K price level. So in the next few weeks we might not see these price levels again because we are already far above 12K already if the trend continues.
But the long-term trend is to go up because of the finite or limited supply of BTC plus due to the fact that it has a high demand both for existing and newer people plus big businesses that wants to hedge their money into it so that they can be protected from FIAT inflation not to mention big entities that is just investing in BTC and storing it and then selling in higher prices in the future.
The altcoin prices also are like a shadow of BTC's price actions, which is why Altcoins gets bullish if there is a BTC run-up and one prime example was the event that happened way back at the end of the year 2017 and at the first months of 2018 where you can just blindly choose what altcoins that you want and invest in it and then cashout when it pumps a bit. That is what is happening right now which is a good news because BTC will remain bullish as time goes by and it gets scarce every day of the week because of the reasons stated above. So it is nver late to invest in cryptocurrency because of bitcoin.
Disclaimer:
Please do your own research and investigate before venturing in a volatile financial instrument like cryptos to avoid possible losses. All the statements here are only from the author's own opinion and perspective and should tot be taken for you own financial decisions.