ALTBEARUSD trade ideas
ALTCOIN INDEX ANALYSIS UPDATEThe correction is over ⁉️
- Yello, ladies and gentlemen😎!
💎The Altcoin Index twice re-tested the top of the descending channel, which has acted as the support. This price action has drawn an ABC corrective pattern based on the Elliot Wave theory.
💎Right now, Alt Index is trading in the demand zone, and we already see a ...........
ALTPERP H4: 50% correction WARNING/ HIGHER LOWS (NEW)Why get subbed to me on Tradingview?
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ALTPERP H4: 50% correction WARNING/ HIGHER LOWS (NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
NOT a setup to SHORT ALTPERP Just showing
signs of weakness and recommend to stay out
of this market into the correction.
🔸 Summary and potential trade setup
::: ALTPERP H4 chart review
::: updated/revised outlook
::: correction MODE in progress
::: sequence of lower highs - BEARS
::: BEARS FLAG progress / WEAK SETUP
::: weakness will last for 4-8 weeks
::: LOG SCALE chart
::: not a great looking chart
::: limited upside from here due to
::: general market weakness and BTC weakness
::: S/R was re-tested and we are still flushing
::: price/ RSI div very clear on D1/H8 TF
::: expecting correction/pullback mode
::: CORRECTION required to attract
::: new buyers from the lows
::: 40-60% correction possible next
::: 4-8 weeks in Q1 2022
::: right now no upside in this market
::: position traders should wait for
::: better entry prices later after
::: correction MODE up next
::: be careful don't get caught up in this
::: also overextended right now
::: BULLS remain on sidelines and
::: be ready to BUY LOW later
::: recommended strategy: STAY OUT / CORRECTION WARNING
::: BULLS stay out until correction is over
::: correction run not over yet
::: good luck traders!
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/CORRECTION
::: Sentiment short-term: BEARS/CORRECTION
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
ALTINDEXaltcoin index is bullish from here imo
cant decide which alt to long?
why not long the index...
sentiment low appears to be in...
psycologically speaking ive seen several normies openly bragging about not investing on facebook
everythings down about 50%
predicted low was feb1
here we are and it looks like reversal
Alt coins, a key decisive turning pointIt looks as though a reverse head and shoulders is forming. For me the question left to ask here is where will the right shoulder bottom at? It has definitely confirmed adequate support just below current levels. It may have already bottomed on the right shoulder. It might drop lower and create more of a triple bottom. Either way that would most likely mean we are sitting in an excellent buy zone for the entire alt coin market. Whether it has bottomed today, tomorrow, or next week it really doesn't make much difference. I believe right now, you could throw a dart blindfolded and land a massive gain on just about ANY altcoin you choose right now. Which is why I chose ALT PERP as a general represantion of the current alt coin market. Happy Trading! Buy and hold, no fear here, prices will multiply shortly!
2022 Alt Spaghetti find the spaghetti chart concept fascinating and enjoy messing with different alts overlayed upons alt perp. included eth and btc for further comparison of the general market. Clearly Metis has been the winner on this one. Will be actively watching this list through the year and will be interested to see what shift in narratives we see.
Last Hope For Alts There are bearish sentiments in the short term but things are looking like the conditions for a bullish continuation could be met. I’m following the previous market trend to provide prospects for how the market could once again respond to those conditions. In the past, around May, the market flipped bearish and altcoins crashed into the 200-day moving average (MA). It bounced from this point and made a corrective rally upwards, regaining more than half of its value after the crash. After that, the market cooled off and placed bids at the support of roughly 2,500. At this point, the 200 day MA was lost and the next crucial support was the 55 EMA which gave a stronger bounce that recovered up to 80% of the altcoin market dump, at the end of August. Right now, the market has repeated the dump and bounce that it previously did, on the 200-day MA and I will be bullish if we bounce off the stronger 55 EMA. It’s really closed so let’s wait and see. The alts may bounce hard to the previous highs and possibly print even new ATHs in the weeks that will follow it. On the other hand, it would be a gruesome bearish event if the 55 EMA doesn’t hold and support is also lost.
Bullrun is over???Hi guys,
As you can see, there are three main trends in the chart. In the last main trend, we wait to reverse a new major. But two scenarios are possible. The first scenario is the new major pivot will be a HigherLow upper than 4023$. So the uptrend will be continued. In this scenario, available targets are 6885 (last HH) ,7000$. In the second scenario, a new major pivot will be a Lower Low. It means we will reach lower than 4023$. In the meanwhile, the uptrend is over and I will sell my all ALTCOINS!!!
ALTCOINS? WAITING FOR A POSITIVE SIGNAL FIRSTHello 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.
Altcoin season vs bitcoin seasonComparing ALTPERP with BTCPERP gives a somewhat similar chart as the BTC.D chart. At daily timeframes, it seems as if altcoins have botomed against their BTC pairing (looking at momentum and strength indicators). I am expecting a small altcoin season as of right now that will last till early (4-9th) November. After that, Bitcoin will surge and make a blow-off top, resulting in a large altcoin outbreak that is suggested by this symmetrical triangle.
NFA