I've been trading in and out RSR/USDT since . 01 and it is the gift that keeps on giving.
I am shitcoin_rich. I'm just some guy who made it in 2017 and gave a lot back to the market in 2018 and 2019, but, I learned a lot of great lessons and nuances of the alt market. My TA is meant to be simple, no gann fann's and fib circles. A few alt coin trading tips. I trade with EMA's as my baseline with price action as my basis for exact entries. I use fibonnaci/ market geometry/ indicators/ divergence for confluence on my entries/ exits. I am the farthest thing from a financial advisor.
1) When BTC is trending bearish , alts are mostly bearish .
2) When BTC is trending bullish , alts are mostly neutral or bearish .
3) When BTC is consolidating, alts are most neutral or bullish .
4) After a BTC bull trend, and moves into short to mid term consolidation, money almost ALWAYS moves into alts.
5) Alts follow Ethereum's macro trail mostly. Ethereum follows BTC's macro trail mostly.
6) If you trade alts with bearish momentum for Bitcoin or Ethereum , odds are you will lose.
BTC is King. Ethereum is queen. Alts are volatile peasants.
Trade Alt coins when BTC and ETH have bullish and/or sideways conditions.
RSR/USDT put in the daily high on Feb 13th, and the daily swing low on Feb 23rd, and has broken market structure to the upside on March 9th . Some technical observations, especially regarding the Feb 23 low.
- The February 23 low tagged the macro .618 fib extension and reacted bullishly. The low also wicked bullishly with a hanging man candle into a weekly order block. The reaction of the low put in a close of a higher high. And lastly the low tagged the Daily 55 EMA and moved bullishly away.
- Subsequently we have put in a higher high at .083 cents and I am looking for a support/ resistance flip at the .067 local high. If that area (local . 618 retracement / 6hr 55ema) holds, I am forecasting the next leg up to .13
I am bullish on RSR's fundamentals and expect it to reach .50 and maybe even 1.00 this year IF BTC and ETH hold bullish macro market structure.
And remember! Don't over risk! DYOR! Have a trading plan!
I am shitcoin_rich. I'm just some guy who made it in 2017 and gave a lot back to the market in 2018 and 2019, but, I learned a lot of great lessons and nuances of the alt market. My TA is meant to be simple, no gann fann's and fib circles. A few alt coin trading tips. I trade with EMA's as my baseline with price action as my basis for exact entries. I use fibonnaci/ market geometry/ indicators/ divergence for confluence on my entries/ exits. I am the farthest thing from a financial advisor.
1) When BTC is trending bearish , alts are mostly bearish .
2) When BTC is trending bullish , alts are mostly neutral or bearish .
3) When BTC is consolidating, alts are most neutral or bullish .
4) After a BTC bull trend, and moves into short to mid term consolidation, money almost ALWAYS moves into alts.
5) Alts follow Ethereum's macro trail mostly. Ethereum follows BTC's macro trail mostly.
6) If you trade alts with bearish momentum for Bitcoin or Ethereum , odds are you will lose.
BTC is King. Ethereum is queen. Alts are volatile peasants.
Trade Alt coins when BTC and ETH have bullish and/or sideways conditions.
RSR/USDT put in the daily high on Feb 13th, and the daily swing low on Feb 23rd, and has broken market structure to the upside on March 9th . Some technical observations, especially regarding the Feb 23 low.
- The February 23 low tagged the macro .618 fib extension and reacted bullishly. The low also wicked bullishly with a hanging man candle into a weekly order block. The reaction of the low put in a close of a higher high. And lastly the low tagged the Daily 55 EMA and moved bullishly away.
- Subsequently we have put in a higher high at .083 cents and I am looking for a support/ resistance flip at the .067 local high. If that area (local . 618 retracement / 6hr 55ema) holds, I am forecasting the next leg up to .13
I am bullish on RSR's fundamentals and expect it to reach .50 and maybe even 1.00 this year IF BTC and ETH hold bullish macro market structure.
And remember! Don't over risk! DYOR! Have a trading plan!