Bitcoin Update - 5th April 2019
by Miyagi · 04/05/19

1. BTC - Currently we can see BTC headed to 5500 after picking up some liquidity now at the recent low. What we’re most interested in is when BTC will be printing some divergences to signify a cool-down.

The momentum is strong (volume of 21.4 bln USD matches the one from December 2017!) and it's something we want to see in BTC so we push upwards to other untested resistances, first one being 5500.

We would also print a' three drives into a high' pattern which would be confluent for our short idea, more-so if we top out there the 618 will be printed where we're planning a long.

All in all, so far so good.

2. ALTCOINS - judging by the recent activity in some altcoin charts, we're seeing massive volatility spikes to shake out some weak hands. In our opinion with or without these wicks 'MOST' altcoins still look good.

My favorite picks are XMR and BTT, XMR we already called a week ago and with BTT we already have posted two calls - one swing that's still waiting and one scalp Alex did which was pretty good.

Overall, this month is going to be fun in our opinion with a lot of opportunities headed our way.

The only frustrating thing is BitMEX altcoins are wicking around so hard and disrespecting levels, for example on Binance TRX hit 530 perfectly whilst on BitMEX it wicked to 480.

We advise caution trading altcoins on Bitmex right now as we'll wait for it to calm down just a tiny bit before initiating some scalps or swings.

Stay tuned for more updates and stay safe out there, don't get caught in the FOMO!