Good morning traders! The week is well underway and time to recap what's happening.
While the markets remain pressured, it's good to remind yourself, that blockchain techonology is not going away any time soon yet. And what better time to buy, when there is blood on the streets? The market is getting reorganized, late and small guys are getting scared out of the market and there is hard to find anything other than fear out there.
Picking bottoms is a nasty business, but looking for supportive price action at key technical levels is not. What i am looking for, is mainly Bitcoin, to see signs of markets bottoming.
Example from last night - yep, that tech setup produced a bounce, unfortunately as the case tends to be recently, failed to follow through. We'll just have to keep looking.
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When Bitcoin finds it's bottom, the following relief rally could be swift. Look for alts, that have the potential to outperform Bitcoin.
Mainly looking at you, Litecoin. Litecoin has provided us with a decent amount of good news recently and should start to take advantage of it, as the bloodletting stops.
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