Big #Altcoin thread: How much longer do we have for $ALTS? Will the summer be hard for the #ALT market like it has the last 2 years or will it be different? #Bitcoin $BTC #Crypto
The last 2 years, $ALTS have a normal cycle of a strong pump in end Q4-early Q1, retrace for 1-2 months, and then have a strong springtime pump. Summer retrace follows (last 2 years). Here's my older thread on $ETH market cycles in March:
I typically think that the summers are VERY bad for #altcoins and that we currently have 3-5 weeks left of good times for $ALTS before everything starts to pull back hard. Below are the reasons why in more detail.
Thread: Where are we in the 2nd #altcoin pump cycle? How much longer do we have to trade $ALTS? What is the typical market history like? As alt traders, we must be aware of the conditions and environment that are strong for trading alts (namely Alt/btc pairs). $ETH $XRP $BTC
I also wrote / charted these charts on the weekend so they may be a few days old. The same principles still apply though IMO. Check out the next two threads before reading this one, I think it'll give better background as to where I'm coming from.
Here's a thread I wrote a few weeks ago. I have many of the same charts w/ some updates:
Anatomy of a Trade w. $MATIC: Here is a successful MATIC trade I recently took. I identified the accumulation range a while ago and decided to move on it when price got close to 145 sats, the EQ of the range. Here is a thread for trading $alts (but can also be applied to $BTC) /1
Anatomy of a Trade w. $MATIC: Mark the EQ by doing a .50 fib and 1/0. You can learn more by watching my video on charting ranges.