BTC remains aligned with our “Q4 2021 Prediction” from September 6th, “2 Week Potential Price Path” from September 7th and “10 Day Potential Price Path” from September 9th.
My opinion is that BTC find a bottom within the 37.5k-38.5k range and recent price moves confirm that view for the following reasons:
– Point A: 38.3k is thethe July-September rally
– Point B: 37.5K are the 100% BTC (indicative of an ABC Correction)of the 1st leg lower
– Point C: False break on the 1-hour charts of the descending resistance in a descending onehas raised the last leg lower.
– Green rectangle: the vertex of a descending onethis coincides with points A and B.
An alternative low is 41.1k as this is thethe July-September rally and 0.618 the 1st leg lower. However, the initial view places the ground closer to the descending one Apex.
Trading plan: reduce short positions before 38.5k and buy altcoins with the greatest growth potential if the Bull run continues. However, a confirmed interruption of the descent Resistance before 38.5k will nullify this strategy
I’ll post a list of my 7 favorites Low cap Altcoins from a technical and fundamental point of view as soon as we have confirmation that the BTC below is present including VEGA Protocol https://vega.xyz/
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