Important to keep an eye on Bitcoin Dominance. Alts have been doing great while it's trended lower, but now it's reached the bottom of a macro ascending triangle and looking for support.
I've outlined 2 possible scenarios. One - BTCD rallies and continues to range in the pattern. Bullish for BTC, Bearish for Alts. 2. BTCD rolls over, and Altcoin season ensues.
Indicators on the 1D TF seem pretty bullish for BTC, at least in the short term, but we'll have to wait and see how it all plays out.
I don't think this bull run is over, but you have to shift focus from BTC to alts and vis-versa and keep an eye on BTCD and TOTAL2 market indices so you don't buy or sell at the wrong time.
happy trades CD
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Forgot to mention - even if BTC/D pumps in the next week or two, it will still have to break resistance to avoid forming that bearish Head & Shoulders pattern I drew in prematurely. It's just an idea to be aware of.
I also agree. Are you holding stablecoin right now and going to buy whichever way it goes once we see a clear path? Or are you in BTC or alts?
cryptodonovan
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@drbrah, yeah I'm probably 60-70% in tether rn (regretfully haha). So I'm waiting to scale back into ETH (hopefully next dip). I am long BTC on one exchange. And I'm bullish on NEO, BAND, XRP, and ADA, so I'm holding some of those and will probably increase my position if alts pull back further
Dan902839
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All in all I’ve increased the BTC Value of my portfolio by a measly 5% with all those moves I made at the moment and now feeling confused
cryptodonovan
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@drbrah, well as btc price rises, wont your portfolio have less btc value unless you're mostly in btc?
you should probably measure your progress in USD value since it's stable lol
Dan902839
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@cryptodonovan yeah I measure my progress in BTC! I know BTC will be worth more in the future than it is today, so I don’t worry about the price of BTC. I just buy alts with the goal of accumulating more BTC value!
cryptodonovan
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@drbrah, Ah, right. wish I had that mindset 4 months ago lol. i was bearish for too long. traumatized from 2018 crash lol. now i have a bunch of tether that would've been worth a lot more if I'd hodled. But I'm inclined to start doing the same as you.