ALTCOINS? WAITING FOR A POSITIVE SIGNAL FIRST
Hello traders,
I am waiting for a break above the resistance in the chart before being confident in increasing my exposure in ALTS. BTC is still indecisive and, as you know by now, in a similar situation, ALTS are very risky. Indeed, if BTC pumps, they will underperform. In the unlikely scenario that BTC made a double top instead, the will underperform as well losing much more than BTC.
Also, by Zooming-out, despite the last few days small pumps of small coins, due to the btc indecision and consequent sideways movements, ALTS are still well underperforming BTC.
Also, as you can see, we stopped at the retracement area, meaning that a prolonged downward scenario is not unlikely. I do not believe it will be that strong, but the target for that eventual movement corresponds to the January minimum for ALTS, which was registered exactly when BTC was pumping.
My suggestion is to always check these indices for ALTS: ALTPERP, SHITPERP and MIDPERP, available in the exchange on the chart - check my bio for info.
I am waiting for a break above the resistance in the chart before being confident in increasing my exposure in ALTS. BTC is still indecisive and, as you know by now, in a similar situation, ALTS are very risky. Indeed, if BTC pumps, they will underperform. In the unlikely scenario that BTC made a double top instead, the will underperform as well losing much more than BTC.
Also, by Zooming-out, despite the last few days small pumps of small coins, due to the btc indecision and consequent sideways movements, ALTS are still well underperforming BTC.
Also, as you can see, we stopped at the retracement area, meaning that a prolonged downward scenario is not unlikely. I do not believe it will be that strong, but the target for that eventual movement corresponds to the January minimum for ALTS, which was registered exactly when BTC was pumping.
My suggestion is to always check these indices for ALTS: ALTPERP, SHITPERP and MIDPERP, available in the exchange on the chart - check my bio for info.
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Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Are you a good trader but you lack the capital?
Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.