Big breakout both in USD and BTC terms after almost a 2 months consolidation period. Several larger coins have started doing pretty well once again, which will then have a direct impact on smaller ones. However until then on average BTC and ETH might crush the rest of the coins in terms of returns.
So far the total market cap has gone up 140% vs BTC but coins...
I am bearish on #SHITPERP for the following reasons
I see more red volume above average. This tells me distribution.
Super Algorithm Indicator has called bearish today.
It has excellent success rate calling bearish on SHITPERP. Below are the past times it did...
I am putting out a lot of bullish charts for what is considered "shitcoins". I am always at the lookout for topping signals and this index of some 50 shitcoins is in a rising wedge, reached resistance and formed bearish divergences on the daily. Price reached the 1.217 extension commensurate with the waves of a starting diagonal. So if this is wave one of alts...
This is sort of a risky short considering the way Bitcoin has been pumping these past few days. However, there is a nasty resistance cluster at this level, and a beautiful candle shows a great R:R trade setup.
we are in a moment of low volatility of BTC: it has to increase soon. However, whatever direction BTC will take, alt will suffer.
-if it goes below 10k, alts will suffer more.
-if it goes above 11k and start a nice rise, everybody will queue on BTC, leaving alts in a corner at first.
I will stay away from alts right now. If you don't want to stay in btc and...
Shitcoins have gone parabolic, one can only guess where the top is or when will it dump. RSI hints there is a lot room to go up.
With shitcoing popping and xing many times, they have stolen the spotlight from BTC.