#TOTAL2 | Alts and Bitcoin dominance update!
Updated
- as long as we are under 620 B, we are going to 550B level
- most likely, bitcoin dominance is going to test 47.65% level and that mean the money will flow from alts to bitcoin to hold the price a bit and prevent Bitcoin from going down hard.
- that mean Alts is going to have a correction (-5 to -10%) but that doesn't mean you should sell your alts.
- in my opinion, this correction is healthy and not dangerous as long as bitcoin doesn't show any negative price action or reversal pattern.
- I advice to just rebalance your short term trading wallet and prepare to buy more alts as there is still a pulish momentum in alts in general.
Take care everyone and thank you 🌹
- most likely, bitcoin dominance is going to test 47.65% level and that mean the money will flow from alts to bitcoin to hold the price a bit and prevent Bitcoin from going down hard.
- that mean Alts is going to have a correction (-5 to -10%) but that doesn't mean you should sell your alts.
- in my opinion, this correction is healthy and not dangerous as long as bitcoin doesn't show any negative price action or reversal pattern.
- I advice to just rebalance your short term trading wallet and prepare to buy more alts as there is still a pulish momentum in alts in general.
Take care everyone and thank you 🌹
Trade active
#Alts still have bullish momentum in my opinion but as we said in the above chart we should see a correction to the 550 B level on Alts market cap - we will wait for a breakout to open new positions on Alts.
- Long positions now are considered risky and the market may go up or down quickly and in unpredict way.
- I stay bullish. but I also consider that it may be a bullish trap and the market can move downward at any time. so, please follow the right risk and money management rules.
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