Dec 1: Market Conditions / Bittrex


dec 1 bittrex

Bittrex is now open for trading again. As the picture above shows, Bittrex had another unplanned outage today. It looks to be yet another day of volume in the 400-500BTC range. Considering 1000BTC a day was considered very low a few weeks ago the atlcoins that survive will have strong communities behind them. When the next BTC bubbles rise and fall I believe the altcoins that survive this round of low volume will be the strong new markets moving forward.

BTC has been going sideways for days. The wedge is very tight, BBands tightening, 1D MACD has gone green, StochRSI is oversold, and the FBI auction is only days away. Something is going to happen soon and the result should be swift in either direction.

One would assume that if BTC is going to breakout that LTC, DRK, NMC, etc, should follow. Mainly because they have not performed well recently, thus the statistical averages come into play, eg: they need to pump up sooner than later due to the time already lost.

One comment

  1. Noticed how DTC moves along with BTC. Let’s hope for a nice break-out this week!

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