Quick update

Binance, Coinbase PRO
#BTC/USD Take-Profit target 1 ✅
Profit: 6.1904% 📈
Period: 250 Hours 4710 Minutes ⏰

Binance, Coinbase PRO
#BTC/USD Take-Profit target 2 ✅
Profit: 10.2104% 📈
Period: 35150 Hours 38 Minutes ⏰

📍Current BTC update:📍

✅ Bitcoin:Well, how do you accumulate positions on a campaign with a goal of $ 20,000? Never buy until there are clear signals on the long. Our short position brought a huge profit. Sometimes you have to wait a few weeks for a good trade. Such realities.

✅ Altcoins:Short and only short. The crypto market is falling and this is obvious.

The dominance of bitcoin is currently 68.3%. This is a retrace after the last move. Our forecast is 80-85% in the long run.
General recommendation: NEVER BUY ON SUCH KIND OF FALL. It will end with a margin call.

Binance, Coinbase PRO
#BTC/USD Take-Profit target 3 ✅
Profit: 25.1457% 📈
Period: 419 Hours 15 Minutes ⏰

Despite the decline of bitcoin and the lack of altcoin season, banks are slowly but surely moving towards the use of blockchain technologies. Sooner or later, this will affect the crypto assets market anyway and they will begin to grow. Not all, but nevertheless, a sign that the expansion of cryptocurrencies continues and will remain with us for many years. There is one skill in trading, without which success is almost impossible - the ability to wait.

📍Current BTC update:📍

✅ Bitcoin:Nothing has changed since the last review. Bitcoin is trading within a fairly wide range of 7,700 - 8,650 dollars. A breakdown will indicate the high probability of a bearish scenario. An upside breakout will not tell us anything much, as there is still quite a strong level of 9,000 dollars.

Only after taking it and consolidating is it worth thinking about buys. At the current levels, it makes sense to trade in the lower and upper border of the corridor according to the principle of reversal points. But this time you need to change tactics and take profit at the upper border of $ 8,600 and, in case of a reversal, open a short position, setting the goal to the lower border of $ 7,800. It is not necessary to cover it at the very border, but a little earlier, to close a trade for sure.

When the price rebounds, you should try to open a long position. But as soon as there is a breakout of the borders of this range, it is worth opening a position in the direction of a breakout. The price will most likely move further well.

Our tactics? At the moment, we are holding a short position at the price of $ 11,300. We are going to work from the borders of the zone of $ 7,700 and $ 8,650 by using reversal points.

We described the tactics above. It’s not worth inventing anything, everything is quite simple. The main thing is the plan and strict adherence to it. It is possible that we can get stuck here for a long time.

✅ Altcoins: When Bitcoin breaks down below the lower border, you can even open short positions for some altcoins to catch the first strong movement, because if Bitcoin falls, the other altcoins will drop with a vengeance. Buys are out of question so far.

Unless Bitcoin shoots up, breaks through the level of $ 9,000, consolidates there and slowly grows. In this case, speculative capital can pump altcoins. We will see it. In the meantime, we are standing by. At the moment, liquidity is leaving the altcoin market, and it’s not so easy to take a large position, which is a very bad sign for us. Only the top 5 altcoins are suitable for trading and investment, well, maybe, a couple more from the rest of the market, and it is sad.

Sometimes we see pumps in the market for altcoins with a small capitalization. These manipulations are done by groups of people. There are many telegram groups on this one to him. We do not advise you to get into this kind of adventure. Very dangerous for inexperienced traders. In general, market manipulations threaten with prison sentences and heavy fines. Sooner or later they will find you. Do not do things that make you constantly look around.

Bitcoin’s domination is currently 66.2%. There is a correction, but this is not a reason for the active trading of altcoins, because at any moment the growth of domination may resume.The marks are almost the same as from the last review. Nothing has essentially changed, most of the capital is in the most liquid cryptocurrency.

[Переслано из Crypto Classics]
🔔 Exchange: Binance,Coinbase Pro 🔔
#BTC/USDT
Signal Type: long term
Trade Type trade: long position

Range open trade: 7 900 - 8 100

Ammount: 30% from deposit

Target:
1) 8 300
2) 8 600

Stop area: below 7 800

#BTC/USD Take-Profit target 1 ✅
Profit: 3.75% 📈
Period: 49 Hours 35 Minutes ⏰

✅ Altcoins: We see that many coins made good bounces. However, but in our opinion it’s worth focusing on the top 5 altcoins. The rest is not worthy of attention due to the lack of liquidity and strong manipulativeness. We are in some telegram groups that deal pump. They lure people through a call to buy one coin or another at the same time. However, we are more than sure that the organizers of these groups buy these coins in advance and sell them to those naive people who think they will be allowed to earn money on a pump. The amount of money in the market is limited and no one will let you make money, even if you paid money to enter the group.

All the same, the organizers will make money on you. Top 5 altcoins do not show signs of growth, but at least they do not fall rapidly. This is already a good signal, but it’s too early to buy. Bitcoin is ahead of everyone. In our opinion, it now makes sense to keep in short positions for a long time, but without big leverage and with good stops in case there are pumps. It will be very difficult to get you out of position. We repeat that we do not see any signs of a market reversal.

The dominance of bitcoin is currently 66%. The upward trend of domination is broken. However, we believe that not all altcoins will grow. Since the cryptocurrency market is a venture capital market, capital will flow only into promising coins. At the moment, the most promising, if not strange, is Bitcoin. 99% of the remaining coins will simply depreciate over time. The real altcoin market will be after bitcoin itself begins to grow.

Currently, we will more often do reviews, share information and give recommendations on speculative trades. But while we see a rather sluggish market, so the lack of a position is also a position. Stay tuned.

✅ Quick update:
So we completely absorbed the movement of the pump and returned and fell below the level of 7760 dollars. The next local support level is $ 7,400. At the moment, you need to be very careful. The price fell quietly from $ 9,000. A rebound is possible.

We are waiting for a reversal pattern and try to buy back with quick profit taking. However, if we stand here for several days and form a sell pattern, we will open a short speculative position. So far, practice shows that after such a movement there is a rollback in prices.