Long Altcoins

Updated

This could be a good time to long altcoins. The Altcoin/BTC ratio looks like its bottoming. If not then the lower green boxes are targets. But you can see that altcoins have been pretty much down only since November 2022.

TOTAL3 excludes ETH but I think ETH will do well too. I'm hoping Bitcoin doesn't tumble and take the whole market down. Best case scenario for my trades is BTC going sideways and altcoins running upwards. Otherwise there's a lot more room for alts to fall.

TLDR; I'm long alts

Note

chart is still looking good and with this market dump I could see altcoins rallying hard. It's an important time to watch.

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I think bitcoin will make another move up (this breaks down slightly)
then altcoins could hopefully run. I'm only in alts.

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Altcoins have ranged here for longer than I expected. I have a gut feeling that says June and July are going to be big for altcoins with ETH as the leader

Trade active

potential for altcoins coming

Trade closed: target reached

observe that perfect bounce at 8.42

Note

I didn't mean to close the trade I didnt sell anything. Now that BTC is above 100k i could see the market attention being on that for a while. It would make sense for alts to cool off here too.

Alex-Weigel

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