Why Altcoins are more attractive to me than Bitcoin now
As the price of Bitcoin breaks all time high, people are either feeling the fear of missing out or be celebrating on twitter.
I see it as a major red flag despite being early in this bull cycle.
By analyzing $TOTAL and $TOTAL2 charts we can better identify where the next opportunity lies.
Let's say we hit 2x target measured by the Fibonacci retracement on both charts, trade the breakout of $TOTAL2 would give us a 279.6% upside potential while risking 29.82%.
On the flip side which is where the current excitements are, $TOTAL only provides a fairly risky trade with Risk/Reward Ratio of 1.88.
What I am trying to amplify here is even if we were to keep going up in price of Bitcoin, we may still be better off trading Altcoins back and forth rather than just chase Bitcoin.
The most important part of participating in a market is to NOT let your emotions take over control, anytime and anywhere. Be discipline, Bitcoin is NOT the only chance for you to get rich.
I see it as a major red flag despite being early in this bull cycle.
By analyzing $TOTAL and $TOTAL2 charts we can better identify where the next opportunity lies.
Let's say we hit 2x target measured by the Fibonacci retracement on both charts, trade the breakout of $TOTAL2 would give us a 279.6% upside potential while risking 29.82%.
On the flip side which is where the current excitements are, $TOTAL only provides a fairly risky trade with Risk/Reward Ratio of 1.88.
What I am trying to amplify here is even if we were to keep going up in price of Bitcoin, we may still be better off trading Altcoins back and forth rather than just chase Bitcoin.
The most important part of participating in a market is to NOT let your emotions take over control, anytime and anywhere. Be discipline, Bitcoin is NOT the only chance for you to get rich.
Trade closed: target reached
