What do I see now?
The trend is still short term down, BTC and Eth have a few bearish divergences on the daily so could see a bit of short term downside, although expect it to be shallow as we build a base for the next run that looks like it’s brewing.
Sol has broken out of its long term bull flag, but is in a short term downtrend retesting the line and only turns up once the trendline is broken and then the trend shifts and we should be looking for longs until then.
It’s unclear right now so no trades today.
#Altcoins
Many people think Altcoins will fall even further... and then you have this chart.
2018 Bottom✅
2022 Bottom✅
2026 Bottom✅
The bottom for Altcoins is in.🫡
Putting myself out there on this low cap.
Nosana is one I’ve been following for a while, team seems good, AI narrative and me being a chart man (only thing that gives me signal in a market that can change like the wind) is looking good if we can breakout. Not sure if it’s just a decent bounce or the bottom and the start of a sustained move, but I’ve been buying here.
Divergences on the 1,2,3 and 5 day USD chart and weekly divergences on the NOS vs SOL chart.
If we breakout, next area I’ll be watching is the 0.25 area, but as it a low cap this can move 100% in a day which is why I’m positioned early and know my risk.
One of the hardest things about trading is seeing the setup clearly and then watching the market wick to your stop loss and then rip in the way your anticipated.
Rule: Where you put your stops is one of the most important parts of trading.
Putting myself out there on this low cap.
Nosana is one I’ve been following for a while, team seems good, AI narrative and me being a chart man (only thing that gives me signal in a market that can change like the wind) is looking good if we can breakout. Not sure if it’s just a decent bounce or the bottom and the start of a sustained move, but I’ve been buying here.
Divergences on the 1,2,3 and 5 day USD chart and weekly divergences on the NOS vs SOL chart.
If we breakout, next area I’ll be watching is the 0.25 area, but as it a low cap this can move 100% in a day which is why I’m positioned early and know my risk.
Great looking chart. Divergences on the weekly. 2 year bull flag that’s been forming since the start of 2024 vs Sol.
Waiting for a breakout but chart looks good.
You learn a lot more by doing. Don’t let thinking you need to be ready stop you or worse, keep seeking more information thinking you need to understand it more. Just start doing the thing and way becomes clear.
And Bitcoin Dominance looks like this.
Nothing is 100% but looks more likely that we come back and retest these lows in the 43-45% range which means good time for Alts. And then after that we see what happens with this range long term.
Total3 vs BTC also looks great.
Had the breakout from the bull flag, now retesting the trend line and just waiting on if this can start breaking higher. May take a bit of time but chart is looking good, just need to wait for confirmation.
Hard to know which direction the crypto market wants to go right now.
I see some people in the camp of a bear market year (valid based on the 4 year cycle), some people expecting a shallower bear market as bull market was lower weaker and some people expecting the market to bottom somewhere around here, build a base and then start repricing higher soon.
All possible. The bit that I question about us being in a bear market is that a bull market has never ended with BTC dominance being at range highs and with the ISM only just breaking above the 50 mark, which has usually coincided with the start of the bull market (can take some time for the market to pick up).
And when you look at the others vs BTC chart or the Total 3 vs BTC chart it looks like a potential bottom could be forming and if it confirms a break higher then things could get very interesting for Altcoins.
If this chart can hold here and break out then things could get very tasty, but may take a while still for the bottom too form, so could either wait and be a buyer here and get a potential higher return but more risk or wait for confirmation of a clear breakout when it appears. Not clear just yet.
But with liquidity and the business cycle picking up, I’m a buyer at these levels and will watch the market and build my position, but overall the risk vs reward looks the best it has for a while on Altcoins.
Books are great, but when you work a full time job, your spare time and energy needs to focused on doing the work.
For years I have been trying figure out how I can build the life I really want and have spent years reading books, probably over 250 at this point and still haven’t move closer to where I want to be. I’ve been caught up in perfectionism and convincing myself that what I’m doing is moving me closer.
ChatGPT has changed a lot for me in that respect (as gay as that sounds) as it’s allowed me to get answers to things instantly rather than needing to do hours of research and then going down all sorts of rabbits holes and then never actually doing the work, I now can get exactly what I need back within minutes.