Hi Riders, last week we saw a bounce on altcoins and $NASDAQ while $BTC remained moving sideways.
Moving forward I do believe a big move is coming for $BTC during this week or the next one, as we can see the oscillator is almost at the middle of the chart for both $BTC and #Alts and the space between price and Rider Band lower limit is narrowing again. As the market is still bearish, chances for a downside move are higher until price gets above rider band again.
So for now , for my trades i will be looking for:
Still trading on the 1hr timeframe, both shorts an longs, locking profits agressively using our anticipation strategy (see tutorials)
In case market starts flipping bullish I willl be paying attention to our Bull-bear signals on the 4hr and daily timeframe for entries, and specially for exits on #alts that already pumped. (trend shift strategy)
For my DCA strategy:
Buying Bitcoin when we get red to purple colors on our Trend Rider Macro view indicator. Already bought some at 18-22K and have a ton of cash ready to buy if it dips again.
For Alts: I only buy (for DCA) if (i)we get pink or purple colors , (ii) if alt is close to a weekly support or a very strong one on the daily and (iii) the coin has good fundamentals.
i.e: FTM, PYR, ADA.
See our Trend Rider Macro View tutorial on our Full Detail page.
If an Altcoins has already pumped massively from bottom don´t chase it, move to the next higher timeframe and look for a resistance break there. Most #alts are already bullish on the 4hr timeframe, so look on the daily timeframe. Our Trend Support and resistance lines (orange and blue lines) (Rider Indicator #1) are specially helpful to detect trend changes.
Not oversold anymore
Price getting ready for it's next move
Trend Indicators still bearish on the daily timeframe
Watchout here, after a big bounce, price is right at Rider Band lower limit, which is the natural resistance after a bounce. So if you long for the midterm, be sure to have a clear stop loss and/or wait for a support test or trend resistance line break.
Examples for Altcoin good levels to DCA (consider that Alts are way more riskier than $BTC during bear markets, so if not confortable with risk just buy $BTC or wait)
Clear support at the weekly timeframe, I bought some $ADA here, no leverage.
Pink and purple colors on our Trend Rider Macro View indicator.