cryptoGats

Bitcoin - what will happen?

BINANCE:BTCUSDT   Bitcoin / TetherUS
Let's look into what has happened. This analysis is based on the 1D timeframe, but we are looking at multiple timeframes in order to get an edge on what may happen later. On the 1D BTC is staying above the 50MA and it is set to close it's first candle above it in a few days. Now, on the 2H (2-hour timeframe) we had a golden cross, that's what has given BTC the boost it needed to go over and stay above the 50MA (50 Moving Average) on the 1D (1 Day timeframe). BTC is likely to stay above the 50MA if the golden cross forming on the 3H (3 hour timeframe) actually happens -- which is looking good. For paper trading purposes it is safe to buy into LTC around the $95.00 area with a safe stop loss. Why are we looking at BTC and buying LTC? Because your paper trading money will multiply faster with LTC and we are looking at what BTC is doing because BTC is like the index for all of crypto. If BTC goes down most coins will go down, if BTC goes up, selected coins will go up. Keep an eye on the 3H timeframe for that golden cross and stay safe.

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