[TA] Watch the ALTs closely

[shibetrader]

I am slowly FOMOing into some alts at the moment and buying the blood. Everybody is now convinced that ALTs will die which is another signal to buy. Sentiment analysis is a very powerful tool.

This is QUITE RISKY still so if you have a lower risk tolerance you might want to wait for a confirmation. I haven't bought a lot but rather slowly starting to scale in, because more downside potential is definitely possible.

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ETH just dipped below the long term trendline but the week has just started so if it does not close below it at the end of the week the trendline is still in play.

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XRP is majorly oversold on the daily. Check the chart to see what happened last time it was that oversold. It is also approaching a historic support area

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Another major signal that tells me to buy is increasing volume on the 4h charts of many altcoins. Besides, an uptrending RSI and a bullish divergence, even though you could argue it is invalid because it is longer than 14 candles. Many altcoin charts look very similar in terms of volume and divergence

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I am a cryptocurrency trader / investor and want to help new people in the space avoid my mistakes. Let me know which topics you are interested in and I could write an article about it.

My posts are only informational and never a financial advice

Comments

[insaallah99]

@shibetrader well written. Helpful. Looking forward to more from you.

[shibetrader]

Thanks!

[shibetrader]

Yes. Please resteem for visibility and share any topics you wish me to cover. The more response I get from the community and see that it is helpful the more I will share. Feel free to ask any questions as well