BTCUSD - "Reversal to Sustained Upward Pressure May Be Under Way NOW." https://www.tradingview.com/chart/BTCUSD/2SSOim97-Reversal-to-Sustained-Upward-Pressure-May-Be-Under-Way-NOW/
Exciting times.
I saw you just published a few ALT/USD ideas on Tradingview. What about ALT/BTC pairs? Do you expect altcoins to outperform or underperform BTCUSD on the next leg up?
This is what my EW count and indicators are telling me. One more leg up in ALT/BTC pairs before all value floods back into BTC ahead of the halving:
I don't do TA for Alt/BTC pairs for several reasons. I "rarely" trade Alt/BTC pairs. Mainly to always TRY to keep myself in a position to protect my USD and/or USDT capital. The following is only one example...
If LTCUSD went down 20% and BTCUSD went down 20%, LTCBTC will have went down 0.0% (ZERO; remained flat). Which means if I were focused only on trading LiteCoin in Bitcoin (LTCBTC) and had not paid attention to LTCUSD as well as BTCUSD, I will have lost 20% of my USD/USDT capital. That situation occurs quite often. I would have been better off to have traded LiteCoin in USD and/or USDT by selling my LTC for USD and/or USDT and increased my LiteCoin holdings by 20 percent through buying LiteCoin once again at or near the bottom of the dip after a 20% drop.
That scenario (above) was only one of several scenarios I could give you to provide an example of WHY I prefer to trade Altcoins in USD and/or USDT "ONLY." In order to trade Alt-Coin/BTC pairs EFFECTIVELY, one would have to also do TA for that Alt-Coin/USD pair and BTC/USD pair to have a good idea of what is going on with that Alt-Coin/BTC pair. Which means that is a LOT OF WORK to do in order to trade one pair EFFECTIVELY. I would prefer to protect my USD and/or USDT Capital EFFECTIVELY by only trading Alt-Coin/USD or USDT pairs.