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Daan Crypto Trades Profile picture
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31 May, 4 tweets, 1 min read
$ALTS Are still looking quite good vs $BTC.

$BTC.D had a big bounce when BTC dropped but is still failing to see continuation which is good for alts relative to BTC.

If it wants to continue up, and not go down further, it should bounce here and make it's way towards 50%.

1/4
The current correlation between $ALTS and $BTC seems to be that whenever BTC moves up, so do ALT/BTC pairs and vice versa.

This correlation is often the case after a correction and usually ends whenever BTC starts making big moves towards the upside towards ATH area's.

2/4
When that happens, BTC tends to move up quickly and leave ALT/BTC pairs behind seeing all the attention is on BTC and people don't need alts to get good gains.

This means that IF BTC were to grind up slowly, we could very well see alts continue to do well relative to BTC.

3/4
My approach towards alts is still cautious seeing $BTC is still in a big down trend and hasn't broken out of this range.

If BTC goes down further, so will alts.

My plan is to wait for more certainty on BTC (Above $43K) before going heavier into alts.

For now, patience. ⏳

4/4

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More from @DaanCrypto

Daan Crypto Trades Profile picture
31 May
Fun question: Denial and Disbelief are on a very thin line with one another.

When the majority is saying others, that don't fit their bias, are in denial. Which group is actually the one in denial?

I'd say price will have to prove which is right, but often the majority isn't.
This comes back to my post from yesterday again. People love to point at others being wrong instead of questioning their own bias.

Even though I think the probability for going up is higher, I am open to all scenario's and will adapt quickly.

I'm also aware that I could be wrong and will be happy to accept the fact. This mindset makes me able to flip bias quickly without being stubborn and staying on the losing side for too long.

Read 4 tweets
Daan Crypto Trades Profile picture
30 May
$BTC Detailed Update 📈📉

I'm going to show 3 scenario's.

"So we go up, down or sideways?" well, we obviously get signs to tell us which scenario it's going to be before it fully plays out. We can then anticipate on those.

1/x
🔹Scenario 1 📈

This is basically the idea I showed yesterday about the Wyckoff accumulation WITHOUT spring. If this were to happen, especially during the weekend, I expect a lot of people to be left behind. More about that later.



2/x
🔹Scenario 2 📉📈

The Wyckoff accumulation WITH a spring. That thread I made yesterday got bombarded with people thinking we MUST have this spring. Just because of that it makes me doubt we even get this. Time will tell.

3/x Image
Read 10 tweets
Daan Crypto Trades Profile picture
30 May
What has always fascinated me is how the average person tends to react their anger out at other people when something goes wrong. Especially financially.

This is quite hard to understand for me personally.

1/8
I do understand that financial losses can hit you emotionally. But my first response is always to look at the mistakes I made myself. Not blame others, especially if they had nothing to do with it at all.

2/8
We see this everywhere in the world. Just as an example, things like online gaming, where the worst player in the team is often the most aggressive/angry person which tells others to do better etc.

3/8
Read 8 tweets
Daan Crypto Trades Profile picture
29 May
$BTC Are we in Accumulation or in Distribution?

Here is our bullish hopium that shows this might just be the accumulation before more upside. 📈

Let's dive in.
First off, the real question is: Is this range accumulation or re-distribution?

The answer to that question will determine whether we eventually break up or down out of this range ($30-43K).

Wyckoff can give us a good indication of what we're working with.
The most telling factor here, will be the volume. If this were to be a distribution range, like we've seen at the top, we would be seeing increased volume on the sell-offs.
Read 11 tweets
Daan Crypto Trades Profile picture
24 May
$BTC Got my eyes on this diagonal resistance for now.

A breakout would likely result in BTC testing the $42-43K level again in the next few days.

Rejection could lead us back lower.

Make sure to read the next tweet in case price does breakout.

u.primexbt.com/DaanCrypto Image
Still a lot of late shorters that have had an easy run so far. Usually these highs tend to get swept before anything else.

Keep your eyes out for a swing failure pattern to occur. This is where price sweeps these highs to take liquidity and rejects/falls immediately afterwards. Image
$BTC Solid breakout and retest of the diagonal so far. Looks good for continuation towards $39K and possibly 42-43K after that. Image
Read 4 tweets
Daan Crypto Trades Profile picture
22 May
My View On The #Crypto Market and $BTC.

🔹What happened?
🔹Do I think the bull market is over?
🔹What's next?
🔹What will I be doing?
🔹What happened?

First off, what the hell happened?! Especially on May the 19th in particular?

Of course there's plenty of arguments and narratives for what happened. Be it Elon, China FUD or just the general end of the bull market as a whole.

1/x
The one thing that's most likely though, which we can see from the data, is the fact people have been over-leveraging into longs... A LOT.

We knew this was happening all along and usually we got away with a 20-30% dip but this was not like the other corrections.

2/x
Read 32 tweets

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