BTC targets $6641 – Stay away from Lower Cap Coins
Bitcoin, ETH, BCH and the rest of the top 10 will see a large increase over the next several days. Nouvive has put out a warning to stay away from the Sub Top 15
Why has Nouvive said this?
- It is well known in the Crypto Community that when Bitcoin and Ethereum are about to blast off, Retail & Institutional Investors start to remove their capital from coins lower than the top 15, instead putting it into BTC, ETH and BCH as a result of the hard fork.
- This will see the rest of the market dump by less than 3-5% over the next several days as BTC decides whether to sit at $6500 or revisit $7200.
- It is in Nouvive’s Opinion that in the next 90 Days – we will see BTC go all the way to $13,500 – therefore to take advantage of this – all retail investors will naturally remove capital from lower coins to take advantage of the arbitrage.
Where will BTC go today?
Nouvive sees a Bullish Bias of 70-30 today:
What is the Bullish Bias:
- Despite the RSI stochastic on all higher time frames signalling a cross-over and a reversal to the downside – there is enough positive momentum and institutional push to move BTC higher to $6641.
- Accumulation has upticked over the past several days – especially as the market moves slightly higher than usual.
- Institutions are moving long from a Short-neutral position – this is signalled by the week on week increases in open interests for Longs for BTC from $6300.
- BTC has not cooled off – usually after a pump as high as seen – we would see BTC go to the 0.618 fibonacci – This isn’t the case.
- Volume is slightly decreasing illustrating that volume and volatility is slowly being sucked out of the market to enable a move up.
Nouvive sees a trade for BTC, BCH, EOS, ETH and confirms to stay away from lower market cap coins.
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