See the related idea pinned below for context...
as all ALT/BTC pairs got rekt overnight. BTC.D pumped and had some good profits if leveraged. Hoping the market reverses now with ALTS pumping. closed trade.
nothing more than described in the title. My TP is the green resistance zone and SL is right below the swing low. Low R/R but with size cuz I got some conviction on this one. I strongly beleive ALT/BTC pairs will bleed here
BTCDOM Outlook
If BTCDOM manages to break above 1100.3, we are a little sad
Altcoins are going to sleep, I hope there will be a rejection so the market will recover
And Happy Asset Spot
Wassup, wolves🔥
There is a ready to trade formation for you!
The price is slightly falling on a bigger frame.
It could be a good signal for bear-traders.
According to Elliott Waves theory all the waves are done and now the price is heading to the breakout.
However do not rush the trade and look for breakout.
There was a bearish fakeour already.
Follow the chart...
Why do I think it is good to long DOM?
1. Pump is much stronger than the dump.
2. DOM is testing the 0.236 of Fibo, tested for two times already!
3. Going to make an entry once the 1D chart closes above 1115.8 which the 0.236 of Fibo.
4. I will target 0.786 within a month or two. (1331.8 USD)
5. Before my target BTCDOM might consolidate at the 0.5 golden ratio...
We should expect some pump in no time according to the daily market structure price action retraced down to 0.6 Fibonacci retracement on 4h chart we’ve already seen a confirmation that price wants to start moving upward
Bitcoin Dominance index seems to be reversing while Bitcoin is trying to make new All Time High.
Current Price= 1072.4
Buy Entry = 1066.0 - 1049.2
Take Profit= 1111.9 | 1170.6 | 1240.1
Stop Loss= 1012.2
Risk/Reward= 1:1.2 | 1:2.49 | 1:4.02
Expected Profit= +20.52% | +42.72% | +69.04%
Possible Loss= -17.16%
Fib. Retracement= 0.382 | 0.618 | 0.883
Margin...
This is what i think about this guy ( BTCDOM )
Please Be Careful For Long Position On AltCoin,
All Attacks Can Be Done from Any Angle
And Please Watch Your Step Make Sure Stop Loss Menu Can Work in Your Platform !
As BTC dominance goes down but still in MACD bullish zone, BTC still in the hunt for its ALL TIME HIGH (ATH).
Eth and other ALTS, goes up as BTC is waiting for a big pump bfore the month ends..
This is a very good November for us guys.
Stay positive!
