Bitcoin, which could not make a good start to December, was withdrawn to $ 42,000 with the effect of global markets.
Having managed to maintain the 10% reaction from the $42,000 level, BTC managed to rise above $50,000 at night.
The recovery in Bitcoin undoubtedly had an impact on the recovery in the US markets.
Dow Jones, Nasdaq and S&P500, which started the week with a premium of over 1%, increased the risk appetite of investors again.
Looking at US futures, we see that the positive mood continues.
While the losses of the past weeks in the direction of commodities and stocks are partially compensated, we see that the recovery has started in altcoins.
The fact that Bitcoin has risen above $ 50,000 again and exceeded $ 51,000 has also increased the risk appetite in altcoins. However, the losses of the last week have not been erased yet with the latest rises.
On the altcoins side, it will be followed whether Bitcoin persists above $50,000.
We need to break above the weekly MA20 ($52428) again to continue the uptrend. If we stay above this level, we can observe that the rises accelerate again.
Investors waiting to make a new entry can follow whether this level is exceeded.
In case we go above the weekly ma20 again, this level will be our new stop level for pullbacks.
The weekly ma50 ($47400) we quoted in our previous analysis remains our support point.
On the other hand, for the continuation of the rises, it will be followed whether today’s opening in the US stock markets is positive.
*Not Investment Advice.