Bitcoin Dominance chart broke bullish outside the trendline resistance after forming a Double Bottom reversal pattern.

One of the reasons why the Altcoins are pulling back heavily recently.

How do I see the potential Altcoin market next move?

Scenario #1

If Bitcoin will continue to rise up to 11.4k levels, the Dominance chart will likely continue higher and expect more blood on the street.


Scenario #2

Let's say Bitcoin reaches the strong resistance area at 11.4k than suddenly flash crash (rejected).
The Altcoin market will hit hard, longer correction, and consolidation.


How I will approach this current condition?

Since my Breakout & Reversal trading strategies are not working well in a bad trading condition.

I will not trade, I will wait for a clear Altcoin direction.

I would rather be waiting on the sideline versus taking high-risk trades

But if you want to buy Altcoins in dip pullback, go ahead as long as I will not take responsibility for it.

Always take note: sitting in cash is also a position

پارس

نتایج تست اتوتریدرهای کریپتالین - فارکس

نتایج تست اتوتریدرهای کریپتالین - فارکس

طبق ویدیوی آموزشی نصب ربات این فایلها را در فولدر مربوط به اندیکاتورها کپی کنید


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ویدیوی پاسخ به سوالات متداول

NZDUSD
H1
TP1 0.66749
TP2 0.66964

Market unclear. No Clear direction for Altcoin yet. No Trade. Just Cash.

BTC Dominance confirms new Daily Higher High and Higher Low after forming a Double Bottom reversal.
If this uptrend continues in the coming few days, the target is up to 62.12 level or higher. So basically, almost all Altcoins will keep pulling back to their mean. I don't trade on strong pullbacks, I wait for proper reversal confirmation to reduce the risk. So please be patient, we will have another Altcoin season again soon. But if I see a small opportunity, I will try to give a new signal so please exercise proper trade size allocation and follow your stop loss.

BTC Dominance still trading inside this rising wedge pattern.
This is the main reason most Altcoins are still in a downtrend market. Until this channel remains valid, Altcoins will experience difficulty. Playing the Breakouts or Buying at support is high risk. I prefer to wait for a proper trend reversal but this option will take days/weeks to develop. The Altcoin season has ended for now so this is not the time going full throttle in the market. But instead, the perfect time we study and backtest our trading strategies. I will only focus on quality trades versus quantity. Every profitable trader has different types of 'Trading Systems'. If my 'System' does not apply to the current market condition, I will not force to make a trade. This always leads to disaster in the long run because you are chasing the market.

By the way, below are my current Altcoin watchlist. Awaiting for reversal confirmation. I will add or remove coins if the structure turns ugly.