Post
Topic
Board Trading Discussion
Re: Do you do TA on alt coins? I do it on BTC and trade market sentiment on alts.
by
Asiska02
on 26/05/2024, 22:44:14 UTC
I have recently observed no matter how good your TA is, it doesn't always work on alt cos most alt price direction is impacted by BTC price.

When BTC is up all other coin move up. So why spending time on doing technical analysis on alts when doing it on BTC gives you a potential clue of most assets price direction?

You’re not wrong about your point, that’s how the crypto market entirely works. The best way I think you can get it right and more accurately is to first analyse bitcoin and know the direction that the trend is going to before coming down to do the technical analysis on those altcoins, that will give you a better direction of when the market will go while trading. This is just like analysing market on an higher time frame and then come down to the lower time frame to place your trade in the direction of the higher time frame. They can be very controversial and confusing sometimes without going the direction of your analysis, so more things needs to be put into consideration before placing a trade.