Hello, hello and welcome to the 56th Market Outlook; and what a week it has been. After many weeks of consolidation and anticipation, we finally broke the range support in Bitcoin and with it sent shockwaves through the rest of the market. As such, there is plenty to cover in today's post. I will be looking at Bitcoin, Ethereum and Monero, as usual, as well as providing an update on EOS and outlining a lowcap opportunity in adToken:
Hello, hello and welcome to the 55th Market Outlook. It has been a relatively quiet week for Bitcoin, with price remaining firmly within its September range; that said, large-caps continued to show signs of promise, with Ethereum leading the pack and making new highs. As such, this past week has given me a greater degree of confidence in the idea that we will be seeing some further relief for altcoins going into Q4, as, unlike over the past ~18 months, altcoins did not falter at the first areas of resistance. In this week's post, I'm only looking at Bitcoin, Ethereum and EOS, as Monero has been very quiet and there is little else I am looking at right now. Next week, however, I expect to have a few setups to provide in some smaller altcoins, so watch this space...
Whilst the past week has presented little movement of note in Bitcoin, with the weekly range safely inside the previous week, large-cap altcoin have begun to show the signs of life expected of them at this stage of the market cycle; particularly concerning our thesis on EOS/ETH moving forward into Q4, but more on this later. In this week's Market Outlook, I shall be looking specifically at the Daily time-frame across Bitcoin, Ethereum and Monero, as usual, as well as EOS due to its significance as a sentiment gauge for the altcoin market.