#ALTSEASON time?
Read the thread below to see what I think 👇
Retweet if you like content like this, I might post these kind of analysis on a more regular basis if you guys like it!
[1/x]
Read the thread below to see what I think 👇
Retweet if you like content like this, I might post these kind of analysis on a more regular basis if you guys like it!
[1/x]
Volatility and a trending BTC are bad for $ALTS in general, ALTS thrive in an environment in which BTC moves sideways.
As can be seen in above chart, last time we had a drop in price, ALTS started moving after BTC made it's range[2/x]
As can be seen in above chart, last time we had a drop in price, ALTS started moving after BTC made it's range[2/x]
This is because volatility dampens after a drop in price. After the peak and drop, buyers and sellers need to agree on the price again, this results in consolidation and price tightening, which is good for ALTS.
Hence why we usually see ALTS move after a drop [3/x]
Hence why we usually see ALTS move after a drop [3/x]
The ALT market cap and ETH/USDT look very similar to BTC before the large run up.
Both retesting all time highs this week, it would only be logical to have a bullish reaction from here like BTC did
[4/x]
Both retesting all time highs this week, it would only be logical to have a bullish reaction from here like BTC did
[4/x]
$ETH
BTC pair on a key monthly level here and retesting the weekly 200 EMA. Not alot of data on it yet since the market is too young but historically this EMA has had reliable interactions with the price.
A bullish ETH is bullish for ALTS in general [5/x]
BTC pair on a key monthly level here and retesting the weekly 200 EMA. Not alot of data on it yet since the market is too young but historically this EMA has had reliable interactions with the price.
A bullish ETH is bullish for ALTS in general [5/x]
$BTCD
Dominance has had a nice interaction with the 200 EMA aswell on the daily which is now forming resistance.
Below this 200 EMA we have consolidated but these consolidations are usually a continuation signal, which would also result in bullish ALTS
[6/x]
Dominance has had a nice interaction with the 200 EMA aswell on the daily which is now forming resistance.
Below this 200 EMA we have consolidated but these consolidations are usually a continuation signal, which would also result in bullish ALTS
[6/x]
#Macrostructure
Many alts are trying to change macrostructure from lower highs to higher highs, this is an indication that trend is or might be switching. See chart for example,
Alot of alts are also reclaiming important resistance levels which now turn into support [7/x]
Many alts are trying to change macrostructure from lower highs to higher highs, this is an indication that trend is or might be switching. See chart for example,
Alot of alts are also reclaiming important resistance levels which now turn into support [7/x]
How to play and how to benefit the most:
- Play for swing trades
- Have macro invalidation levels
- Diversify
If trend is up you don't want to trade too much, it's hard to outperform a market that's going up fast
Diversify so you don't fomo because other coins are running [8/x]
- Play for swing trades
- Have macro invalidation levels
- Diversify
If trend is up you don't want to trade too much, it's hard to outperform a market that's going up fast
Diversify so you don't fomo because other coins are running [8/x]
There are no guarantees in trading. Always be prepared for downside and have risk managed.
Altho the signs are here for altseason we can't blindly assume. As traders we play probabilities and the probability is in our favor right now imo.
Good weekend to all and good luck [9/9]
Altho the signs are here for altseason we can't blindly assume. As traders we play probabilities and the probability is in our favor right now imo.
Good weekend to all and good luck [9/9]
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