seems like 20MA is about to cross the 9MA and MACD gives us a downtrend signal. StochRSI just crossed the 20 support line. 4H chart, i am looking here. In my eyes, this one is a downtrend here!
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Too bad, seems like the entire market is a bit down because of BTC.
The thing is, if it crashes hard. Then (most) of the altcoin will get a reality check.
But on the other end. If BTC keeps soaring for a few years. Then that also won't boat well for the other altcoin.
@fechaugger yeah, i have 80% of my portfolio in alts and almost every single alt got stopped because of price decline, but 20% still waiting for juicy BTC buys. the other solution is to look for coins that you can buy with tether.
I have most of my altcoins holdings in Steem right now. Which isn't doing so badly if you compare it too a few weeks ago.
As long as the lighting network isn't their yet. I try to stay away from BTC. The tech, or better the scale-ability isn't too great right now. And seeing the current downtrend, I'm not risking it.
I looked 1H chart... seems quite the opposite. And 1D chart looks like it looked last week... I believe we just had a little correction, which was hard on rest of the market. Emotions are too tense right now. But we are slowly moving up on 1H chart. Hopefully we get out next week, and BTC gets stabilized... this situation is really bad for all the alts.
Yeah, i checked the 1H chart too and seems it is making higher higs and higher lows, i still have buys at 9.8k, January is bad month for stock and crypto market, because people have taken the money out to fiat to buy gifts etc. So january is the recovery month and i hope februrary brings us good profits as the new market cycle starts @jak00b
Funny thing is, only chart that is needed right now is BTC chart. All the alts just follow it. Some more, some less, but all do.
If one zooms out, will the trend still remain the same? The big picture tells alot.
You mean, when you zoom out of 1H to 4H for example? @jqckdickens382
Yes even to 1 week/1 month/6 months. I believe the general trend will be seen enough to make a decision.
I really like this post joosep! keep up the good work!