Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Nostoman on February 26, 2021, 10:06:36 AM
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Bitcoin Dominance is at the resistance line and if break upwards not good for alts. Dominance is in uptrend on the lower time frames and looks like altseason about to end. Don't take big positions in alts at current prices. We wait till weekend for confirmation and only wait signals that are at support or breakout.
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I completely agree with you. Now you need to be very careful on the market, because it is not clear how the market will behave (either we go down or up)
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We are still unsure if the altcoin season is coming to an end, because so far; alts are merely suffering in price because bitcoin is yet to find a support level yet; the best action at this moment is to continue to monitor the maarket; it could get even dipper; and it could pump too up too. Just keep your portfolio healthy
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I also agree with @Nostoman. I think the best thing to do at the moment is to watch the market and not take risks, because at any moment Bitcoin can start to rise again and the losses would be for the atlcoins. Taking big positions now can empty our pockets, we better be careful and wait.
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Good advice, I'm still waiting for the Bitcoin price to drop below $ 45k.
At the moment I still hold some altcoins and don't add any more altcoins because the market is not stable yet, the current market situation is still in a big correction position. I hope that early March the price will get better again as the value of the current crypto market cap has started to fall.
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At the moment, it is not at all clear what can happen to the cryptocurrency market, but since there has been a fall from time to time for about a week, most likely we should expect a fall in the near future, so now it is not worth investing in cryptocurrencies and we need to wait for the correction to end.
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We are really in a big dip right now though it can't be said with finality if the bears are taking over since there is still that chance that soon there can be a big rebound, maybe the market is just consolidating and looking for some big good news to be awakened again. We are definitely in a slumber right now but still getting some kicks from time to time...let's continue watching the market and make informed decision of our portfolios.
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Depends on your time frame and what you're buying in with surely. Putting fiat into the market right now is clearly very risky, but when it comes to Bitcoin value it's been flat for days with no changes (no trade zone mainly) and against Ethereum is still very trade-able (recently bought ADA was great idea).
If you're still hodling shitcoins like usd, eur, gbp, etc, then no doubt they are getting a bit of a dead cat bounce, and could bounce a bit higher, so better to sell at higher levels imo. Anything down 80-90% over the past year and in a strong down trend is due to see a bit of rebound before going lower ;)
On a Weekly scale Bitcoin dominance is still in a strong downtrend, waiting to break-down so remains very invest-able with BTC/ETH imo:
(https://www.tradingview.com/x/wKFD4BIc/)
The second month of a one year long bull market is no time to be getting scared, it's the time to be getting aggressive in positioning yourself personally. I see the break of Bitcoin dominance to 50% as measured by head & shoulders target as well as general multi-year fractal. The fundamental & logical idea of Bitcoin being only half of the crypto market as opposed to the majority doesn't even cross my mind to be honest, I just follow charts.
Also, I prefer this view. The "flip the chart upside down" version looking at the bullish reality long-term:
(https://www.tradingview.com/x/pNoyPQkG/)
Biggest volume spike we've ever seen this week so far diversifying into alts? Looks great.
CMF looks great. RSI looks fine.
If you're already mainly holding Ethereum and haven't been diversifying recently you've been doing it wrong though ;)
(https://www.tradingview.com/x/u4sIHAzR/)
8)
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I think it is not wise to make any trade now. Everyone should wait about a week and obeserve the market carefully. Now the market is seeming very volatile. It would be wise not to make any trade now.
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All this TA talk don't really plays well sometimes, at present btc is down so does the alts, even when btc dominance was high some alts where still able to perform really well, btc dominance didn't stop them from doing so, am just speaking base on observation
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All this TA talk don't really plays well sometimes, at present btc is down so does the alts, even when btc dominance was high some alts where still able to perform really well, btc dominance didn't stop them from doing so, am just speaking base on observation
I think you are right. If you really take a look at the market you would discover that, some of the major ALTs behave exactly like bitcoin in relation to their price movements. Even now, I am kind of surprise if what happens to Bitcoin is not the same thing happening to other ALTs and we hennare the ALTs going to have their time if they will continue to fall anytime bitcoin goes down or vise versa.
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It is better not to rush to buy altcoins at once for the entire deposit at today's prices. Tomorrow the price may be at lower levels, so it is better to buy a little at a time.
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Yes, you are right. I declare altcoins are currently priced unstable and don't buy at our own risk.
In an unstable market situation I prefer to be short term and look for a little profit. Even though my profit was small, I did it many times so that I could cover my losses when I bought yesterday at a higher price
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Bitcoin Dominance is at the resistance line and if break upwards not good for alts. Dominance is in uptrend on the lower time frames and looks like altseason about to end. Don't take big positions in alts at current prices. We wait till weekend for confirmation and only wait signals that are at support or breakout.
I agree with you. The price of Bitcoin as well as other altcoins has already risen significantly. Now if the dominance of the price of Bitcoin decreases, it is likely to have an effect on the price of altcoins. However, in that case short can be traded.
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Thank you for the advice, i totally agree with you, Bitcoin dominance has always been a major factor to how far altcoins are likely to rise or fall, when bitcoin dominance is raising, it shows that whales are withdrawing huge amounts of money from altcoins and putting it in bitcoin, which explains why sometimes, bitcoin alone will be going up while the rest of the altcoins are going down.
This explanation is for the newbies in this space actually, atleast, to help them understand or get an idea of how this things works.
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Today is Monday March 1 and Bitcoin and Ethereum are showing a fairly good pace compared to last week and corresponds to 8 and 14% growth. I believe this chance should not be missed as the cryptocurrency market will enter a bullish trend again.
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We must take risk in life but the risk should also have a limits so that you can be able to manage the tension, many of us has loosed alot of money in cryptocurrency market,for me currently I can't afford to loose such amount of money again looking at the market currently there's alot fear of weather the coins will rise or fall.
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Though to me, taking position in any altcoin is very risky, the severity is just different from one and other, so saying this i felt its normal in any crypto coin, and i go with what you said "big position" should not be taken.
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At the moment I am only interested in the altcoins/bitcoin rate and have noticed that many of them have come down very low while the potential is enormous. I am referring to the strategy of selling bitcoin to buy some really potential altcoins, because if bitcoin reaches $100K, holders can only x2 assets, but if the altcoins/bitcoin rate increases 10 times, they will have profit x20. Traders still believe in the 1:10:100 ratio, that is, bitcoin price increases 10 times, altcoins/bitcoin rate increases 10 times, then altcoin/usd price will increase 100 times.
And I believe this because it can explain the price movement of altcoins/usd properly. I am preparing to sell BTC to buy some more ETH.
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Yes. Make everything clear first to decide something, it is too risky if you decide something now. The current crypto market is in the position to see what is the direction for Bitcoin price in the near future. If it can continue to go up and achieve again $55K, I think the bullish on Bitcoin price to continue again above $60K. It means that the prices of almost all altcoins drop temporarily.
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I think that taking a position when the market still dips also needs careful consideration. Moreover to ensure whether the coins have chances to rise up again or not. Additionally, it will also depend on what kind of holding we are, holder or trader. if it is for investing or holding, it is okay.
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Technical analysts really have to do when making investment decisions, if I look at posts from other groups, we are in the next bullish scenario, where we will see a big correction and the Bitcoin price will then go back up to above $50k.
Right now I'm still holding on to altcoins and waiting when the price really recovers
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I think that taking a position when the market still dips also needs careful consideration. Moreover to ensure whether the coins have chances to rise up again or not. Additionally, it will also depend on what kind of holding we are, holder or trader. if it is for investing or holding, it is okay.
Even if you are a HODLer which I consider myself as, I will still sell off my crypto assets once I noticed that the price is high and it is about to or it is going down, I do sell and wait until the price is going back up and I buy in again and hodl until when such I see another opportunity like that to do it again and it has really worked for me though this I don't consider as day trading and i believe you will make more from that than just HODLing through dips and rise.
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Good opinion. it will bring great results for the future even if it is not the alts season now. This means that the coins that are currently in the market will increase at least a little bit if the dominance of Bitcoin increases. So the market situation will be better. I think this is a great idea to buy ADA, Doge, DOt etc. right now.
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I somehow agree with you but I don't think alt season gonna end. Market not always move according to the support and resistance level. Sometimes some news also triggers the market. On the other hand, we have to wait for the market to get stable then decide to trade. We should avoid trading in the falling market. We should not wait if we are getting a good buying opportunity.
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Two days I converted my Bitcoin and altcoins to USDT thinking that the market will be dipping for more sadly that was the time that the market started to get up to its feet. I now realized that listening to people in forums is a bad habit, and they are also just neophytes in this game, and they are just expressing their own ideas even without basis. Now, I lost the chance to make a good ride of cryptocurrency's comeback and stuck with my money. Funny and sad.
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I think the market is very overheated right now, and if I buy coins then only for a short time. Keep your main asset in stablcoins. And we are waiting for a deep correction to buy coins for long-term storage. :D
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At the moment I am only interested in the altcoins/bitcoin rate and have noticed that many of them have come down very low while the potential is enormous. I am referring to the strategy of selling bitcoin to buy some really potential altcoins, because if bitcoin reaches $100K, holders can only x2 assets, but if the altcoins/bitcoin rate increases 10 times, they will have profit x20. Traders still believe in the 1:10:100 ratio, that is, bitcoin price increases 10 times, altcoins/bitcoin rate increases 10 times, then altcoin/usd price will increase 100 times.
Couldn't agree more :) I've been hearing of many people taking "profits" when their coin has doubled, but instead their 2x usd/fiat gain is usually at the expensive of a 50% bitcoin/ethereum loss. Investors should to be careful, taking losses that you think are profits isn't very smart imo.
I guess if you are still hodling fiat currency that's down 70-80% in the past year (I have no idea why you would be!) then probably everything looks overpriced right now. The reality is it's not, it's your fiat-based shitcoin that's down so much that makes everything look so expensive right now ;)
It's like if I had all my wealth in XRP right now, everything would look unaffordable at the moment. The problem here is hodling shitcoins, not much else.
And I believe this because it can explain the price movement of altcoins/usd properly. I am preparing to sell BTC to buy some more ETH.
As for selling Bitcoin for Ethereum, did that Dec/Jan, then was selling of eth/btc profits into altcoins after ending up with majority Ether portfolio 8)
It's true the alts/usd prices rarely make any sense until alts/btc breaks to a new all time high, otherwise it's in a false state of price discovery.
The only use for alts/usd (or alts to any other shitcoin) is being able to buy the ATH breakouts, with amazing bitcoin/ethereum discounts ;)
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Nice trading advice there, mate. I think you are right. The market is trading sideways for a few days now, and many traders are treading water, waiting for the breakouts on the charts
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Yes, you are right. I declare altcoins are currently priced unstable and don't buy at our own risk.
In an unstable market situation I prefer to be short term and look for a little profit. Even though my profit was small, I did it many times so that I could cover my losses when I bought yesterday at a higher price
Yes, the current crypto market conditions are very unstable. Most investors only take short-term profits which further exacerbate the conditions of the crypto market.
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This is why it is very important in my opinion to be able to divide wealth into as many types of assets or coins that you feel have potential. Don't just invest in altcoins or Bitcoin, but as much as possible in both. it will be much nicer.
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I told you not to open new trades and use stop loss in all trades. Not doing any trades is also an art and you need to master it to save your profits. People forgot that saving money from loss is also profit. Will update if found new entries for alts and will update on BTC. But now ADA and Polkadot are in a great position.
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But now ADA and Polkadot are in a great position.
I hear some good news about these coins. DOT already improved its price but ADA seems to drop its price. I think these coins respond to the news in different ways. For me, it is not so clear to see the potential in ADA but DOT surely has a good chance to continue increasing the price. Better to buy DOT now and wait for the good sign in ADA.
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But now ADA and Polkadot are in a great position.
You can add Kusama and some other coins to that list too ;)
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Current market situation is not suitable for trading or for taking new entries.we should wait for bitcoin stability and for decrease dominance.Alts going down 10-20% down with in no time.we should wait for the best.
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This is why it is very important in my opinion to be able to divide wealth into as many types of assets or coins that you feel have potential. Don't just invest in altcoins or Bitcoin, but as much as possible in both. it will be much nicer.
That's right
However, you need a lot of time to be able to analyze the market at any time, with the number of altcoins you have, you will get a higher profit and risk, always be careful when making decisions.
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But now ADA and Polkadot are in a great position.
You can add Kusama and some other coins to that list too ;)
I agree with you. Kusama is currently popular. Which is built on the dot platform. So is at the top of popularity. As such the price is currently 298$ In the beginning the price was much lower. As with 0.91$, the lowest price. Investors and holders have benefited a lot. So ksm should be put on the trade list.
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It is better if we have to be fair in dividing assets. Don't just invest in one type of altcoins. And indeed I feel I should be able to invest in Bitcoin too.
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Investing in one type of altcoin is very risky indeed. And choosing worthy altcoins for investment is quite difficult. Analyzing the market is not an easy task, especially when bitcoin is jumping here and there. Maybe the best solution would be to wait out the current moment a little.
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Indeed, now many Atlcoins are falling in price. But all of that will definitely go up again. Not only altcoins have fallen Bitcoin has also decreased. The important thing is not to panic to sell. we must be more patient, diligent and tenacious in investing in crypto. Better to keep the altcoins longer that we have. Waiting for the price to go up to sell it, so that we can make a profit.
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Indeed, now many Atlcoins are falling in price. But all of that will definitely go up again. Not only altcoins have fallen Bitcoin has also decreased. The important thing is not to panic to sell. Better to keep the altcoins longer that we have. Waiting for the price to go up to sell it, so that we can make a profit. The point is we have to be more patient, diligent and tenacious in investing in crypto.
Altcoin price fell this time due to the influence of Bitcoin price, so don't panic. And it's true what you say, hold Altcoin longer and wait for the price to go up will return our money even we can get profit. And when we hold Altcoins, it is important for us to do often to check the price in the market, because when the price goes up we don't lose the opportunity to sell the Altcoins we hold.
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Yes, the current crypto market conditions are very unstable. Most investors only take short-term profits which further exacerbate the conditions of the crypto market.
Short-term investing does not mean damaging market prices, but on the contrary, short-term investing will strengthen volume in the market and will boost the altcoin price.
Don't be afraid that short term investments will destroy the price of all altcoins, you just have to watch the movements in the market to prove it
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I completely agree with you. Now you need to be very careful on the market, because it is not clear how the market will behave (either we go down or up)
Of course, we must be careful at crypto currency market..Because we all know crypto currency is unpredictable. I see bitcoin is still dominance. I think we can invest in bitcoin for short term and daily trading mate. It is more safety.
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You may be right. But also it can go either way. The resistance might break(and it has been threatening to rip at the seams for a while now) and alts may do better
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I think everyone who are involved in investment or even in trading must be carefully watch the trend and current graph neither alts or Bitcoin. To take to consideration the resistance and demands while watching the flow are helpful ways to avoid more loses and regrets after the event.
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It depends on one planning to hold long-term, short-term, or Intraday. If you want to short you can do it anytime but If you are planning to hold for the long-term then certainly you should analyze properly before buying. Now I feel alt season has been started and one should focus on most top 50 coins that have potential so that one should not regret later.
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Investing in one type of altcoin is very risky indeed. And choosing worthy altcoins for investment is quite difficult. Analyzing the market is not an easy task, especially when bitcoin is jumping here and there. Maybe the best solution would be to wait out the current moment a little.
It is a fact that it is very difficult to select altcoins that are suitable for investment, so those who are in the business of trading can no longer sit idly by. Those who trade must have an observation about the market. So in the light of their observations, I believe that they can make a short trade in the current situation without sitting idly by.
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I think everyone who are involved in investment or even in trading must be carefully watch the trend and current graph neither alts or Bitcoin. To take to consideration the resistance and demands while watching the flow are helpful ways to avoid more loses and regrets after the event.
If course, we must be careful when investment, trading and as holder. We all know crypto currency is unpredictable . When the price is going low or dump, we should go buy more for investment. Thats my way to do now.
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I think everyone who are involved in investment or even in trading must be carefully watch the trend and current graph neither alts or Bitcoin. To take to consideration the resistance and demands while watching the flow are helpful ways to avoid more loses and regrets after the event.
If course, we must be careful when investment, trading and as holder. We all know crypto currency is unpredictable . When the price is going low or dump, we should go buy more for investment. Thats my way to do now.
in any case, it all depends on what goals the user sets with the cryptocurrency and how long he plans to make investments. I believe that you can do two things, or leave your asset for at least a year, or check the rate of the asset every month in order to get additional income from the difference in price, fixing your income.