Looks like a bottom, smells like a bottom, tastes like one too... I don't trade bottoms though...
"I never buy the bottom, and I always sell too early" - Jesse Livermore
If we can get above the red box, I'm a believer in alt szn (kind of a joke)
Even if Peter Brandt's current narrative of 80% decline in Total Market Cap comes true, the top coins could still rise
If this happens, I would expect the beginning of the end for 95% of the scam projects in this space, and the thriving of the remaining 5%
Do you think you'll be holding one of the coins in that 5%?
"Dot com bubble as the narrative" - Peter Brandt
Seriously though I wouldn't touch any alt coins with a 10 foot pole until further confirmation of where the market is headed
When alt/btc pairs pump while btc/usd dumps, you must question whether or not you should even be in the market... Why? Because even if your argument during these types of movement is "Well my goal is to accumulate more BTC, not USD"... You can usually make more BTC by just holding a stable fiat/USD position (i.e. not being in the market), and just purchasing more BTC for less dollars after BTC drops, but with much less market exposure and much easier to apply Risk Management
"I never buy the bottom, and I always sell too early" - Jesse Livermore
If we can get above the red box, I'm a believer in alt szn (kind of a joke)
Even if Peter Brandt's current narrative of 80% decline in Total Market Cap comes true, the top coins could still rise
If this happens, I would expect the beginning of the end for 95% of the scam projects in this space, and the thriving of the remaining 5%
Do you think you'll be holding one of the coins in that 5%?
"Dot com bubble as the narrative" - Peter Brandt
Seriously though I wouldn't touch any alt coins with a 10 foot pole until further confirmation of where the market is headed
When alt/btc pairs pump while btc/usd dumps, you must question whether or not you should even be in the market... Why? Because even if your argument during these types of movement is "Well my goal is to accumulate more BTC, not USD"... You can usually make more BTC by just holding a stable fiat/USD position (i.e. not being in the market), and just purchasing more BTC for less dollars after BTC drops, but with much less market exposure and much easier to apply Risk Management