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$7k Hurdles are Past - Pull Back in New Uptrend??? *&* Altcoin Market Rundown - WHAT TO EXPECT

01/09/2020 09:20


Remember What We Say About FIRST TIME BREAKOUTS - They are often failures at first, rebuild their bases and re-emerge for legs higher. Coming out of a DOWNTREND getting rejected at the $8500 level is perfectly NORMAL and the reason why I haven't alerted. The first obstacles were overcome. Those were $7400 and $7800. This has been the thesis since mid-December.

What the rest of the WEEK HOLDS:

As of January 9th, we are currently getting rejected by the top end of the bear channel. I envision two things to happen

1. We can retest the neckline at $7250, and then attempt the next breakout and with this attempt have a higher probability of closing above the channel
---or---
2. We can descend to the downside of the channel which will be low $6ks

 


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