The actions of the Chinese authorities have had a positive impact on the market

‘BTC, like as the key altcoins ETH, LTC, and XRP retain the potential to reach their local reversal zones. For BTC, I expect the formation of a new intermediate flat, so the possibility of a sharp price drain down and merging stops isn’t excluded, and only further — reaching first the range of $ 60,000, and then $ 65,000, and possibly higher,’ the expert notes.

‘LTC is less volatile still, therefore, volume loading and the formation of a reversal buying pattern are still observed for this tools, but generally, it’s probably worth expecting the coin will move to the $225 area, where a local maximum was observed,’ Mark Sorokin says.


‘Despite any expectations, this ‘story’ had a positive impact on the market. Large market participants were able to generate fresh liquidity to move the major market tool prices up. I expect the growth to continue, its intensity will depend on the activity of participants and the current market sentiment,’ the expert summarises.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store