Toncoin Goes Down While Bitcoin Goes Up?
2024-10-16

They can move in isolation but they just don't. The entire Cryptocurrency market is interrelated and moves as a unit; what one does, the rest follows.

This is specially true when we are talking about Bitcoin.

If Bitcoin goes bullish, the Altcoins market is bullish, period.

But we are seeing bullish action on the Bitcoin side, correct? 

Yes! Bullish action is not the same as higher highs or a bullish cycle. There can be bullish action within a downtrend or correction.

Here we see Toncoin (TONUSDT) very weak and moving below several layers of resistance. There isn't even any attempt to challenge these resistance levels.

If Bitcoin was set to hit a new All-Time High and produce maximum growth, we would expect to see very strong bullish action here and all across the market. Maybe there is a delay but so far there is no bullish action across the Altcoins market giants, in fact, many are weak.

This is telling us that either there is a delay or that Bitcoin's move is unnatural and some sort of whale manipulation. The fact that Bitcoin is behaving in a certain way and the market is not responding as it usually does reveals that normal market dynamics and forces are not pushing Bitcoin up.

Someone is pimping up the market because they want to sell their coins as high as possible. That's my opinion of course.

The truth is that Toncoin is set to move lower based on how this chart is looking, as well as other major pairs. When Bitcoin moves down, these Altcoins move down; When Bitcoin grows these Altcoins grow.

Either Bitcoin will stop growing and start moving down, or these Altcoins will recover and start going up.

➢ It is a bull-trap.

➢ Toncoin (TONUSDT) continues bearish.

Patience is key.

Thanks a lot for your continued support.

Namaste.