Bitcoin Price Bullishness Remains Intact while Top Altcoins Signal Strong Moves

Since hitting $4,200 on February 24th, the leading cryptocurrency has been stuck at $3,900. It’s been more than a fortnight that Bitcoin saw any real action. At the time of writing, Bitcoin has been trading at $3,892 with 24-hours loss of 0.59 percent, as per the data provided by Coinmarketcap.

Meanwhile, the daily trading volume has been moving down as it slides to $9.4 billion from $10.7 billion, a few days back.

However, according to crypto trader and analyst, Alan Masters, the bullishness of the Bitcoin is, in fact, intact. Talking about Bitcoin on the 4hr time frame, he notes the following points,

  • Bitcoin has been printing higher lows since the 27th of February.
  • We can see a bounce each time EMA200 (bold orange line) is tested.
  • Our trendline from the 7th February worked as support on the last drop, XBTUSD didn't reach EMA200 and bounce before that, a small but valid bullish signal.
  • Both the MACD and RSI are showing a strong curve up which can open the door to additional bullish action.

He further says the consolidation continues to happen as “A break and close below EMA200 would invalidate most of these signals and a new analysis is needed. This is all based on the 4H time frame,” with the Bitcoin bullish potential remaining intact.

Altcoins Strong, Beginning of Something Much Bigger

When it comes to altcoins, among the top cryptos, coins like Dash is making huge gains while Stellar, Litecoin, and Cardano saw a good rise in the past couple of days. Today’s top gainer with over 30 percent gains is Maximum Coin while Zcoin, Chain, Electronium, Komodo, Kucoin Shares, and Digitex Futures are up between 10 to 20 percent.

“This action is indicative of the market bottom already being established and I believe this can be just the beginning of something much, much bigger,” shared Alan Masters.

He says, altcoins remains bullish and strong and on the basis of past market analysis that also means additional bullish action from altcoins could be expected.

“When I think back in time before the last cryptocurrency market bull-run, you would always see similar action to what we are seeing today. Bitcoin goes little bullish and the altcoins explode. After the huge altcoins explosion for several long weeks, then the retrace comes and Bitcoin shoots up.”

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Russia to Prohibit Crypto Circulation, Mining, and Ads Under New Draft Law For Digital Assets

Cryptocurrency regulations are quite tricky and up until now, only a few countries can boast of finding the right mix of existing new laws...

China’s Largest Mining Chip Maker, SMIC, Gains Regulator’s Approval On $2.8B IPO

One of China’s biggest semiconductor manufacturer, SMIC, announces plans to raise a $2.8 billion public sale IPO on the Sci-Tech Board of the...

Bitcoin Flash Crashes to $8,600 with BitMEX Shenanigans at Play Again

Bitcoin doing bitcoin things! Today, Bitcoin had yet another moment like March 12, although the price didn’t crash that low. Yesterday, Bitcoin jumped as high as...

AVA Labs Integrates Chainlink’s Decentralized Oracles to Improve DeFi Dapps Development

AVA blockchain, becomes the latest platform to add Chainlink, a decentralized oracle system to its platform. The integration of Chainlink to the Dapp blockchain...

Binance Korea to Improve KYC/AML Framework With Coinfirm's Compliance Solution

Binance South Korea unveiled a unique partnership with Blockchain analytics firm, Coinfirm that will help Binance remain compliant with the strict AML framework...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today