In the Crypto space, I believe it's always a great idea to hedge your funds in different altcoins in order to maximise profits. When doing so, it's important to notice the relationship of the altcoins price to Bitcoin's price.
We can see a Cup and Handle formation here. The price is following the blue trend line and looks like we have just bounced off the bottom of the handle. The MACD also confirms that this is a good entry point as the faster moving average crosses above the slower one.
Our initial target is the top of the cup and if it can break above there then we will target the 1.618 Fib line. If Bitcoin breaks $20K then the 1.618 target will be a lot more likely.
Good luck!
We can see a Cup and Handle formation here. The price is following the blue trend line and looks like we have just bounced off the bottom of the handle. The MACD also confirms that this is a good entry point as the faster moving average crosses above the slower one.
Our initial target is the top of the cup and if it can break above there then we will target the 1.618 Fib line. If Bitcoin breaks $20K then the 1.618 target will be a lot more likely.
Good luck!