Beginner's Guide : Identifying BTC-Resistant Crypto Sanctuaries As a crypto trader, shielding yourself from the stormy volatility of Bitcoin (BTC) is imperative. By creating a separate watchlist, you can identify safe haven assets that remain resilient during BTC's turbulent times. Whether you're a seasoned trader or a beginner, it's crucial to set up your watchlist accordingly to minimize risks and maximize trading opportunities. In this article, we'll explore the importance of a segregated watchlist and provide guidance on how to set it up.
Separating Related and Not Related Pairs:
To construct your segregated watchlist, utilize the convenient features provided by TradingView. Firstly, click on your existing watchlist and create a new list dedicated specifically to altcoins. Alternatively, you can categorize pairs using color flag feature as either related or not related, emphasizing the distinction between those influenced directly by BTC and those that operate independently.
Experienced traders understand the paramount importance of maintaining a segregated watchlist. However, if you're a beginner, it's never too late to establish one. While you may not trade the same pairs as me, the fundamental concept remains crucial—identify safe havens shielded from BTC's erratic movements. As a beginner, now is the perfect time to create your own watchlist and align your trading strategies with reduced risks and increased potential rewards.
Example list i am using (you should backtest and make your own)
1. Blue-Chip (Not Related):
This category comprises altcoins that have limited correlation to BTC's price movements. They are considered more independent and can offer alternative trading opportunities. Examples include BINANCE:BLZUSDT.P , BINANCE:TRBUSDT.P , BINANCE:STORJUSDT.P , BINANCE:CYBERUSDT.P , BINANCE:WLDUSDT.P , BINANCE:COMPUSDT.P , and BINANCE:SXPUSDT.P
2. BTC Strong Related:
These altcoins closely follow BTC's price movements. Traders should be cautious when considering trades within this category. or just trade BTC instead. Examples include BINANCE:1000PEPEUSDT.P , BINANCE:PERPUSDT.P , BINANCE:FETUSDT.P , BINANCE:XRPUSDT.P , BINANCE:AGIXUSDT.P , BINANCE:YGGUSDT.P , BINANCE:OMGUSDT.P , BINANCE:BNBUSDT.P , BINANCE:1000SHIBUSDT.P , BINANCE:DOGEUSDT.P , BINANCE:SUIUSDT.P , BINANCE:ARBUSDT.P , and BINANCE:RUNEUSDT.P
3. Fast Bouncers:
These altcoins have a temporary correlation with BTC's price, but they often recover quickly and resume their original trajectory. Traders may find opportunities here despite the short-term impact of BTC. Examples include BINANCE:AGLDUSDT.P and BINANCE:OPUSDT.P
Personal usage of watching list.
Scene 1: when Btc is extremely volatile
trade btc and the unrelated pairs only
Scene 2: when Btc is in consolidation
all coins are tradable
thats it .
hope this helps :)
