In this update we'll be looking at some specific altcoins, and, additionally, we'll be looking at some interesting altcoins on setups which might be possible to take.
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In the past few days, we have seen significant price action in the world of cryptocurrency. The reason for this is that we have had a lot of news over the past few days. We have seen both Binance and Coinbase being sued by the SEC.
The breakout attempt last week ultimately failed and price is now back in the consolidation range, with imminent support at 26.7k and resistance at 27.6k.
After witnessing a significant upward move over the weekend, we observed a retracement in the market at the beginning of this trading week. This retracement has completely filled the CME gap that occurred over the weekend. The question now is whether we are experiencing a retracement and can expect continuation, or if we are going to make new lows. To answer that question, let's dive into the charts of Bitcoin and Ethereum. We will also discuss the Nasdaq in this trade letter. Enjoy reading!
