cyatophilum

Bitcoin is making new highs, but some ALTs haven't (yet)

BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello, today I want to share my current trading strategy.

First, I will look at Bitcoin against USDT.
The market is bullish and shows no sign of ending anytime soon, at least for now.


From this information, I know I can trade the BTC /USDT chart, but not only. Because with all this capital flowing into crypto, usually (that's what used to happen everytime), a great part of this capital will turn into Altcoins.

Indeed, if we look at the ETH/BTC pair for example, we can see that it is starting to over-pace bitcoin , put it simply: it can beat bitcoin .


What I mean is: while bitcoin beat his previous all time high by 80%, a lot of coins haven't done the same yet.
Looking at ETH/USDT, which previous high is 1438 USDT, hasn't made a new high yet.


Litecoin as well is starting to gain strength against bitcoin , its volume is increasing lately.
His all time high, around 368 USDT, remains to be beaten.

ADA ( Cardano ) is in the same scenario, and I'm sure we could find other ALTs like such.


To sum up, my current stratgy is to find Altcoins who perform better than bitcoin , to maximise the potential gains.
Then I will setup a swing trade indicator on each.

One last thing, very important, is to keep an eye on the Bitcoin dominance and Altcoins marketcap.
Right now, Bitcoin is getting 67% of the total capital put into crypto. It has a lot of room to go down.
Meanwhile the altcoins (bottom chart), are following a strong ascending trendline, with a lot of space to go up.
This only confirms the strategy to get into Alts right now.

/!\ This is not a financial advice, I am a developer, not a trader (yet).

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