Technical weakness has persisted through Bitcoin and all the major altcoins causing the Altcoin Index to plummet. This retracement seems to have hit BTC and the Altcoin Index commensurately, and this can be measured. The Crypto Spread Indicator shows that we are at parity, after briefly tilting to the favour of the Altcoin Index.
Bitcoin has blasted through levels to find support in the lower bound of its current range at $10.8K. The other altcoins have seen analogous support at respective levels. These levels seem ripe for a buyback, but beware because virtually all technical indicators remain bearish. Consider levels below the current ones if you seek to enter a position.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
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Bitcoin has blasted through levels to find support in the lower bound of its current range at $10.8K. The other altcoins have seen analogous support at respective levels. These levels seem ripe for a buyback, but beware because virtually all technical indicators remain bearish. Consider levels below the current ones if you seek to enter a position.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
For daily commentary on cryptocurrencies, subscribe to our newsletter!
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