The most important skill when trading altcoins is being able to identify strength/weakness.
Long strength, short weakness.
Yet this is where many traders make mistakes.
Here's a simple method to help:
When the market bounces, make a list of coins that broke their EMA200 on H1 (or H4/Daily), and those that didn't.
The strongest coins will typically bounce the most, and the weak coins will lag.
Examples of current "weak" coins:
• $APE
• $ADA
• $MATIC
• $CFX
Examples of current "strong" coins:
• $BTC
• $STX
• $APT
• $SUI
You can also do the same (in reverse) when the market dips. Make a list of coins which broke structure to the downside, and those which held up.
Once you have this information, you can trade accordingly.
For example: If BTC/ETH's next move is up, long the "strong" coins. If BTC/ETH break down, short the "weak" coins.
Long strength, short weakness.
Example for context below:
$APTOS USDT UPDATE
Watching this for a breakout it sadly didn't give a sweep entry as I posted 2 days ago
most alts just went staight up after my altseason post
Pro tip for finding altcoins before they explode.
When you see a chart like this, use Twitter Advanced Search to see who was talking about it during the highlighted period.
$RVF
Top tier project & only trading at 6 million Market Cap.
The number 1 DEX/CEX aggregator. I will not be surprised to see this one sitting at 500 million MC in the next bull run.
Big players like @Aptos_Network recognize the potential of @RocketXexchange. Huge :)
#DeFi