A few people have reached out and asked if the market is bullish right now because of all the activity in the altcoin markets. This is a fair question - we haven’t seen this volume of trading in the altcoin market since April last year.
The answer is simple. BTC is still the base pair for the majority of the crypto market. When BTC is stable people are much more confident trading against it in altcoin markets. BTC right now is trading near an established bottom, inside a well-established channel. So long as it stays stable, altcoins will continue to rally.
From its current position, BTC could easily rally to 4800/5300. It could also range, falling back down to 3400. We recommend being patient and waiting for either of these scenarios to play out before taking a long position on BTC.
What you should absolutely NOT do right now is be 100% in the market. Being 100% in a market leaves you no opportunity to take better positions as the market changes. You become tied to a specific moment in time and can’t react to new information.
Right now we have 30% of our capital in the market and the rest in stable coins. There are many waves. Don’t let your fear of missing anyone wave control you. Be patient, mind your stop losses, and wait for opportunities to present themselves.
Signal Tool: signalgroups.com
Telegram: t.me/coinandcrypto
If this idea was helpful to you please like it! Your feedback lets us know what ideas to keep up to date! :)
The answer is simple. BTC is still the base pair for the majority of the crypto market. When BTC is stable people are much more confident trading against it in altcoin markets. BTC right now is trading near an established bottom, inside a well-established channel. So long as it stays stable, altcoins will continue to rally.
From its current position, BTC could easily rally to 4800/5300. It could also range, falling back down to 3400. We recommend being patient and waiting for either of these scenarios to play out before taking a long position on BTC.
What you should absolutely NOT do right now is be 100% in the market. Being 100% in a market leaves you no opportunity to take better positions as the market changes. You become tied to a specific moment in time and can’t react to new information.
Right now we have 30% of our capital in the market and the rest in stable coins. There are many waves. Don’t let your fear of missing anyone wave control you. Be patient, mind your stop losses, and wait for opportunities to present themselves.
Signal Tool: signalgroups.com
Telegram: t.me/coinandcrypto
If this idea was helpful to you please like it! Your feedback lets us know what ideas to keep up to date! :)