TECHNICAL
In that kind of scenario, you should understand that power of moves depends on how many investors are looking in the same way. The triangle represents well that vision.
Monthly investors don't have any signals to feel that is the time to enter. We still are in the huge correction we began few months ago. So if monthly investors are not buyers, they are inactive or sellers, and you could try to fight the market on other time frames, you may lose.
On the chart, if the red candle close below that could be bearish.
So how to detect monthly investors entering ?
-> You should look at the monthly time frame to look at the main supports. Here you have the next support around 4300.
-> Stochastic needs to be oversold
-> RSI needs to retest 50 neutral fib
-> We need a huge volume that indicates the end of despair (all pessimistic investors leave the markets and sell their coins to optimistic ones)
Technical conclusion : Whether you are trading, you can't see on the long-term, and your trading strategy needs cautiousness. Or you are looking for long-term investment, you need to wait signals.
FUNDAMENTAL
• Other markets are correcting (securities, indexes...)
• Altcoin markets give reversal and bullish signals
• Bitcoin and other USDT pairs seem bearish
What I think about that ?
Bitcoin crash led a huge crash for altcoin markets because those markets are still new and not strong yet, projects don't have real long-term investors and the last bubble was only speculative and emotional results.
Now they are undervalued, even if there are really good projects. Tomorrow may be the golden day when you would see great bullish signals on all altcoin markets.
How we could explain that ?
Bitcoin weaker and weaker, investors are more and more looking for saving their money. So we would see an investment leak to stable coin, and also altcoin markets that are undervalued.
Moreover, as other markets like securities one are correcting and may be beginning a crash, we would also see an investment leak that gives more credibility to crypto assets.
Thank you for reading, hope that may help you to think about the situation.
Agree, comment whatever you think, I may be not right. The most important is not to be right.
Have a nice week !
(Sorry if my english is not perfect, I'm neither native nor bilingual)
In that kind of scenario, you should understand that power of moves depends on how many investors are looking in the same way. The triangle represents well that vision.
Monthly investors don't have any signals to feel that is the time to enter. We still are in the huge correction we began few months ago. So if monthly investors are not buyers, they are inactive or sellers, and you could try to fight the market on other time frames, you may lose.
On the chart, if the red candle close below that could be bearish.
So how to detect monthly investors entering ?
-> You should look at the monthly time frame to look at the main supports. Here you have the next support around 4300.
-> Stochastic needs to be oversold
-> RSI needs to retest 50 neutral fib
-> We need a huge volume that indicates the end of despair (all pessimistic investors leave the markets and sell their coins to optimistic ones)
Technical conclusion : Whether you are trading, you can't see on the long-term, and your trading strategy needs cautiousness. Or you are looking for long-term investment, you need to wait signals.
FUNDAMENTAL
• Other markets are correcting (securities, indexes...)
• Altcoin markets give reversal and bullish signals
• Bitcoin and other USDT pairs seem bearish
What I think about that ?
Bitcoin crash led a huge crash for altcoin markets because those markets are still new and not strong yet, projects don't have real long-term investors and the last bubble was only speculative and emotional results.
Now they are undervalued, even if there are really good projects. Tomorrow may be the golden day when you would see great bullish signals on all altcoin markets.
How we could explain that ?
Bitcoin weaker and weaker, investors are more and more looking for saving their money. So we would see an investment leak to stable coin, and also altcoin markets that are undervalued.
Moreover, as other markets like securities one are correcting and may be beginning a crash, we would also see an investment leak that gives more credibility to crypto assets.
Thank you for reading, hope that may help you to think about the situation.
Agree, comment whatever you think, I may be not right. The most important is not to be right.
Have a nice week !
(Sorry if my english is not perfect, I'm neither native nor bilingual)
