BitcoinShort
"ITs A TRAP"
Updated
BTC Chart with the
RED Trend Line = TOTAL (Total Crypto Market Cap)
PURPLE Trend Line = TOTAL3 (Total Crypto Market Cap minus BTC and ETH ie Total ALT Coin Market Cap)
Normally we see BTC and ETH pump a bit as money enters into those eco systems. from there the money goes into ALTs, cross chain, Long and Short Positions, Leverage you name it. The one common factor is everything for the most part at some point needs to be ETH or and BTC/WBTC along its currency exchange journey. This makes BTC and ETH move then ALTs... its still very cause and effect due to the limited liquidly depth/places to swap and narrow bottle neck of exit and off ramps into/out of crypto.
When i see the market do its thing, BTC and ETh go then ALts pump etc I am ready for more upside or at the least sideways accumulation phase but when we see a btc eth rally and then TOTAL and esp TOTAL3 dont pump above BTC or and TOTAL below TOTAL3 and BTC and ETH below both of those when compared on the same chart we see downside. this is not money entering the market but people getting out of DeFi ALTs you name it via BTC and ETH. this is time to run not buy last time I saw this in the charts we took a 35 to 40 percent crypto market DROP food for thought. for me and mine we dont want to spread to thin rite now and r ready to exit the market quick fast and in a hurry if needed.
RED Trend Line = TOTAL (Total Crypto Market Cap)
PURPLE Trend Line = TOTAL3 (Total Crypto Market Cap minus BTC and ETH ie Total ALT Coin Market Cap)
Normally we see BTC and ETH pump a bit as money enters into those eco systems. from there the money goes into ALTs, cross chain, Long and Short Positions, Leverage you name it. The one common factor is everything for the most part at some point needs to be ETH or and BTC/WBTC along its currency exchange journey. This makes BTC and ETH move then ALTs... its still very cause and effect due to the limited liquidly depth/places to swap and narrow bottle neck of exit and off ramps into/out of crypto.
When i see the market do its thing, BTC and ETh go then ALts pump etc I am ready for more upside or at the least sideways accumulation phase but when we see a btc eth rally and then TOTAL and esp TOTAL3 dont pump above BTC or and TOTAL below TOTAL3 and BTC and ETH below both of those when compared on the same chart we see downside. this is not money entering the market but people getting out of DeFi ALTs you name it via BTC and ETH. this is time to run not buy last time I saw this in the charts we took a 35 to 40 percent crypto market DROP food for thought. for me and mine we dont want to spread to thin rite now and r ready to exit the market quick fast and in a hurry if needed.
Note
look to set buy orders at 25k 26k and if 25k support breaks then 17 to 20k is the buy order ALL DAY/NO BRAINER
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