Bitcoin is making new highs, but some ALTs haven't (yet)
Hello, today I want to share my current trading strategy.
First, I will look at Bitcoin against USDT.
The market is bullish and shows no sign of ending anytime soon, at least for now.
From this information, I know I can trade the BTC/USDT chart, but not only. Because with all this capital flowing into crypto, usually (that's what used to happen everytime), a great part of this capital will turn into Altcoins.
Indeed, if we look at the ETH/BTC pair for example, we can see that it is starting to over-pace bitcoin, put it simply: it can beat bitcoin.
What I mean is: while bitcoin beat his previous all time high by 80%, a lot of coins haven't done the same yet.
Looking at ETH/USDT, which previous high is 1438 USDT, hasn't made a new high yet.
Litecoin as well is starting to gain strength against bitcoin, its volume is increasing lately.
His all time high, around 368 USDT, remains to be beaten.
ADA (Cardano) is in the same scenario, and I'm sure we could find other ALTs like such.
To sum up, my current stratgy is to find Altcoins who perform better than bitcoin, to maximise the potential gains.
Then I will setup a swing trade indicator on each.
One last thing, very important, is to keep an eye on the Bitcoin dominance and Altcoins marketcap.
Right now, Bitcoin is getting 67% of the total capital put into crypto. It has a lot of room to go down.
Meanwhile the altcoins (bottom chart), are following a strong ascending trendline, with a lot of space to go up.
This only confirms the strategy to get into Alts right now.
/!\ This is not a financial advice, I am a developer, not a trader (yet).
First, I will look at Bitcoin against USDT.
The market is bullish and shows no sign of ending anytime soon, at least for now.
From this information, I know I can trade the BTC/USDT chart, but not only. Because with all this capital flowing into crypto, usually (that's what used to happen everytime), a great part of this capital will turn into Altcoins.
Indeed, if we look at the ETH/BTC pair for example, we can see that it is starting to over-pace bitcoin, put it simply: it can beat bitcoin.
What I mean is: while bitcoin beat his previous all time high by 80%, a lot of coins haven't done the same yet.
Looking at ETH/USDT, which previous high is 1438 USDT, hasn't made a new high yet.
Litecoin as well is starting to gain strength against bitcoin, its volume is increasing lately.
His all time high, around 368 USDT, remains to be beaten.
ADA (Cardano) is in the same scenario, and I'm sure we could find other ALTs like such.
To sum up, my current stratgy is to find Altcoins who perform better than bitcoin, to maximise the potential gains.
Then I will setup a swing trade indicator on each.
One last thing, very important, is to keep an eye on the Bitcoin dominance and Altcoins marketcap.
Right now, Bitcoin is getting 67% of the total capital put into crypto. It has a lot of room to go down.
Meanwhile the altcoins (bottom chart), are following a strong ascending trendline, with a lot of space to go up.
This only confirms the strategy to get into Alts right now.
/!\ This is not a financial advice, I am a developer, not a trader (yet).
🔥Get the Cyatophilum Indicators today and automate them on Binance! => blockchainfiesta.com/strategies/
Discord Server: discord.gg/RVwBkpnQzm
I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/
Discord Server: discord.gg/RVwBkpnQzm
I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/
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.