Re: [Charts] Cyrpto Market Weekly MA Bullcross & Altcoin Dominance Looking Bullish
I normally don't do mid-week updates due to the "noise", but as I was playing the breakout on the Daily chart (after cancelling the long on the Weekly chart for altcoin dominance), dominance has now reached the 50 Week MA (purple line) on a Green 4 TD sequential. This is why I backed out of this Weekly trade, I'm not a fan of Green 4's at MA resistance.
For those trading shorter time-frames, it's a good time to tighten stop losses or take profits. As referenced previously, I expect some resistance at this level, but for it to ultimately be broken, whether that means coming back down to the 200 Week MA over the coming weeks to find support or not. I've taken some satoshi profits, but otherwise leaving long positions from October 2019 from 30.5% altcoin dominance (1.5% under the 200 Week MA now) on break even stop losses as macro trades, as opposed to swing trades.
In contrast, this is looking great to me as the market is above all it's long-term MAs, stop losses now break even
For those trading shorter time-frames, it's a good time to tighten stop losses or take profits. As referenced previously, I expect some resistance at this level, but for it to ultimately be broken, whether that means coming back down to the 200 Week MA over the coming weeks to find support or not. I've taken some satoshi profits, but otherwise leaving long positions from October 2019 from 30.5% altcoin dominance (1.5% under the 200 Week MA now) on break even stop losses as macro trades, as opposed to swing trades.
Altcoin Dominance Eyeing Up A Breakout to 40% - Cancelled Long
In contrast, this is looking great to me as the market is above all it's long-term MAs, stop losses now break even
Cyrpto Market About To Bullcross: 50 & 100 Week MA - Active Long
