Thread by @AltcoinSherpa

Some overall market thoughts on $BTC and #Altcoins. Cliffs: I still think market is going up over the next few weeks and we're going to see 55k+ and alts will follow. After that, I have no clue. #Bitcoin $ETH

#Bitcoin is still in a bullish market structure IMO. I still think we're ok and have higher highs/higher lows. I'll change my bias if the $BTC low at 37k gets taken out on high time frame charts or we print some sort of lower high (48k>) on this next move.

I'm personally just thinking about this consolidation as a big range; the last move was a deviation and not the true break given the volume/lack of follow up. Ofc its easy to say this in hindsight but it's ok, more chop = stronger explosion out of the break.

Target is around 55-60k, it's a high volume node and S/R level. I expect btc to move up there when it finally breaks out of this range.

How are alts going to do? $ETH should follow $BTC for the most part. low 4ks should be about right if btc goes to 55k.

Now, in terms of altcoins to buy: it will ALWAYS depend on your strategy. There are some great coins to scalp and some great coins to swing and great coins to just longer term hodl and then dump later.

I think a lot of coins are accumulating rn. They never look like it when they are doing it but they are there and there are many coins like this.

https://twitter.com/AltcoinSherpa/status/1516289222877061120

Coins I like scalping due to volatility and liquidity: $GMT $APE $KNC

This doesnt mean long or short, just means trade your strategy. Im not really scalping rn.

Coins I like swing trading: Long $LOOKS $ZIL $NEAR

I think these move strongly in the next week or so

Coins that are slower trades/investments/hodl for a few weeks and then dump are $SHIB $AVAX $SAND $DAO $MC and many many others. These are not good active trades though IMO. Better to just DCA in and sit on it I think.

We'll see if this overall idea is correct on my end. I'm positioned and exposed now to a lot of stuff (btc/eth/shib/near are my biggest bags with some AVAX too). I still think that Layer 1s are mostly the best bets but there are going to be new narratives popping up in 2022.

move to earn was one sector that recently moved hard but I havent seen many totally new concepts recently.

https://twitter.com/AltcoinSherpa/status/1498625232084606977

Thus far, 2022 has been hard to trade in and I've mostly been inactive the last few weeks due to traveling. IMO you need to find the investment/trade that fits your overall time horizon and risk profile. I'm still mostly doing passive investing over the next few weeks.

My current bags are:
$BTC
$ETH
$NEAR
$AVAX
$SHIB

I have some smaller cap coins too but those are more holds I'll do for a while.

Let's see if I'm right or wrong!! Positioned accordingly and will be selling my bags as btc gets near 55k. Where the following low is printed will determine my next move.