After a big move in the last 24-hours, we looked at ETPBTC. As with many alt-coins, the recent rally has brought the coin right to the top of its previous 4th wave and a big Fib speed resistance line.
In the case of ETPBTC, if it can close above 8782 on a 2-day chart, there might be reasons to say a legit bottom is in here.
Bottom Line: Generally speaking, we're not a fan of chasing alt-coins after a big up move. That said, ETPBTC does have bullish technical potential. If alts and big coins can turn around and have an up day, the ETPBTC technical read could flip to optimistic and traders might go with strength at that point.
In the case of ETPBTC, if it can close above 8782 on a 2-day chart, there might be reasons to say a legit bottom is in here.
Bottom Line: Generally speaking, we're not a fan of chasing alt-coins after a big up move. That said, ETPBTC does have bullish technical potential. If alts and big coins can turn around and have an up day, the ETPBTC technical read could flip to optimistic and traders might go with strength at that point.