BTC pump while alts go sideways... ?

[Guest]

Can anyone speculate based on history or opinion on why BTC is pumping over the last few days whilst alt coins sit sideways?    Should we speculate an alt coin catch up after BTC stabilizes?  

[Guest]

On 2/20/2018 at 12:28 PM, misterford said:

Can anyone speculate based on history or opinion on why BTC is pumping over the last few days whilst alt coins sit sideways?    Should we speculate an alt coin catch up after BTC stabilizes?  

Ill give it my best guess. 

It seems pretty common that when BTC starts pumping that it sucks the momentum out of all the alts. BTC reached oversold territory on the daily charts a couple weeks ago and there was also a reversal signs from the NVT signal (http://charts.woobull.com/bitcoin-nvt-signal/). There were some other TA indicators showing good momentum swing over the last week but yesterday BTC got rejected by its downward trendline. It may retest the trendline in the next day or two but my bet is that BTC pulls back and tests the supports at 9K again, if it holds then maybe a move over 12K, if it fails then test supports 7500 or lower.

I personally don't see a return to all time highs for BTC or XRP for another few months. If BTC can break its downward trendline it may draw more people in who believe the worst is over. This would be good for all coins. I think its unlikely to see any alts make a big move until BTC gets out of its down trend.