We make cash every day but thats from adopting a strategy that works and sticking with it, your not born with these and they can take you years to develop and learn. Well I will save you some time today and tell you a very basic system you should all use.
BTC does it or does it not pull your alts down? Yes of course....... there is a reason for this.
People make tens of million of dollars buying and selling BTC all day long buy low sell high. How do they make so much?
They buy the bottom of a support and sell at the resistance line above they do this over and over again......
However if BTC doesn't bounce off a support and it crosses the support there are no buyers only sellers so it just about free falls the same as it did hours ago.
When BTC doesn't hold at support you also have every BTC holder with a stop loss set below that support get taken out so sells everywhere. They all sell as quick as they can as the next stop is a long way down to next support.
Now see the only PURPLE line on the chart this is the support that didn't hold today and when it crossed we dropped fast.
This is the only time alts get dragged down see examples of alt charts below....
So how do we fix this?
We set an alarm 1% above each one of these support lines and set the alarm so it alerts you EVERY time it crosses then set a second Alarm on the support... The third and final alarm is .5% below the support So we have 3 alarms here...... the first alarm is to tell you to wake up, the second is to say watch me incase I don't bounce and also to tell you to get ready to hit sell button on alts the third alarm is to say if your not out of your alt you might be too late.
Supports are the black lines with red circles......
So set the above up once it may take an hour but once its done you are set to trade with less risk....
Now of course you don't have to sell your alts you can hold through they all bounce back sooner or later... However I love cash so if I am online I will do this and you can buy the alt at the bottom of the drop and it will bounce back and you will earn more later... Below is an example of just 2 alts this happened to but I could show you 100.
If you want to trade alts you can always just join Cash Is King and get all these alerts handed to you, not only that you will always sell at a profit as we run tight trailing stop losses due to current market conditions. You can check my trade ideas to verify this data of course; we buy low sell high.
This is a coin AST we traded yesterday and made a nice 50% profit on I might add.... this had enough momentum to double in value. It was up 60% then BTC crossed support and it crashed we had a stop set below this and were taken out at a profit.... but I can guarantee anyone that want trading with us got smashed.
This is another trade we had open in a 10% profit and etc dragged it down. Did we lose no, stop losses are always set... People that don't follow my ideas would of lost.
Cash Is King people, we all love it we all need it we all want more but the faster you earn it the faster you need to learn strategies to protect it.
Bit of a boring article but this strategy has saved me thousands of dollars and I hope it does the same for, we work hard we deserve to keep our pennies we earn.
Btc is trying to get back over its resistance we have seen some aggressive buys come I but the charts tell us we will head back down to rest on its next support below
This chat is for you to have fun and share, feel free to join https://t.me/CASHESKINGS
Buy BTC when it's cheap, below fair value. Don't let the bankers get our BTC cheap. They have more fiat then all of us combine. You short BTC under value, they can buy more BTC then we afford to. All crypto are traded in BTC pair, that mean they get to own out altcoins and the entire crypto assets at discount. Make them pay premium!