Hi All,
*** This is a continuation piece from the previous post, link below. ***
Similar to many ALTs and BTC, we are going through a shake out period where many of the profits in the last 2 weeks are either being cashed it (reaccumulated by the whales) or people just taking profit.
Those who bought early if timed well, should have known double top is good odds to make some money and then buy the dips, eg using the RSI on the 15 min seems to work.
Is it time for a macro correction on the ALTs, yes. Is this it? I don't think so, I think its a pause as I believe BTC is going to go more to $60K range before then next correction
{ I believe LINK is one of those coins you should have in this bull run. Its untrustworthy when to buy and when to sell but when its turn, it will go, just like ETH.}
How to trade this?
With many of the alts, we now need to go to the bigger time frames for the trend, (daily), look for confluence with the 10/20 ema and fib levels.
Note I have 2 levels which will be fine to do the daily cradle setup
All the best,
S.SAri
PREVIOUS POST
*** This is a continuation piece from the previous post, link below. ***
Similar to many ALTs and BTC, we are going through a shake out period where many of the profits in the last 2 weeks are either being cashed it (reaccumulated by the whales) or people just taking profit.
Those who bought early if timed well, should have known double top is good odds to make some money and then buy the dips, eg using the RSI on the 15 min seems to work.
Is it time for a macro correction on the ALTs, yes. Is this it? I don't think so, I think its a pause as I believe BTC is going to go more to $60K range before then next correction
{ I believe LINK is one of those coins you should have in this bull run. Its untrustworthy when to buy and when to sell but when its turn, it will go, just like ETH.}
How to trade this?
With many of the alts, we now need to go to the bigger time frames for the trend, (daily), look for confluence with the 10/20 ema and fib levels.
Note I have 2 levels which will be fine to do the daily cradle setup
All the best,
S.SAri
PREVIOUS POST
Note
Potential entry setupNote
I was hoping it dropped to give us the move but it didn't and hence the weak side movement.Note
now lets hope it drops here, to jump in...always looking for an angle Trade active
Have adjusted my thoughts.1st I flipped my LINK for BTC.
2nd the next 4 hour candle might tell us if there is a bounce up from here or down to $28. and if so, we will be confirming this was wave 5 on the micro level and will be a ABC correction.
Note
Link performance is dismal compared to the other ALTs. It seems its doing a retracement all the way back.
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.