BTC - Short - Altcoin Strategy
As BTC approaches $17,500, be ready for AMAZING buy opportunities for strong upside coins that had been pushed to the ground during the BTC run to $20,000.
My list of favorites for shorting BTC during a large correction run are as follows (not in any particular order--as the best buy depends on a number of factors):
-STRAT
-MCO
-NEO
-ADA
-KMD
-MONA
-WAVES
-PIVX
-IOTA
I'm sure I'm missing a few awesome coins, but I just wanted to get this out there during this BTC pump.
BTC will see big resistance at $16,000, $16,500 & $17,000, but do not judge your buy opportunity based purely on small changes on BTC (i.e. $250-750 decrease). Wait until we see BTC close the day. The following day should begin one of 2 ways. (1) Continued pump without a drop of more than $500, or (2) Hard pump followed by a drop that takes us below today's close.
Be very careful, as always, and do not play with all of your BTC at once. With B2X hard fork approaching, there is no reason to strip yourself of BTC unless an Alt is below a 100% Fib retracement--aka "Stupidly Low Price". When B2X drops, we will be receiving an equivalent amount of B2X (respective of your BTC holdings), as well as a "proportional" amount of BTC (which probably won't be a ton of BTC, but it's FREE BTC SO WHY PASS IT UP?
I am only willing to bet ~10% of my BTC on the right Altcoin today because we may see BTC continue through resistance as it has done countless times before.
Stop Loss @ -2.5% investment.
Profit Stop @ +5% initial investment.
Risk Reward ~2:1 (while BTC remains <$16,500).
If BC goes past $17,750, I will stop loss wherever I'm at on any Altcoin.
My list of favorites for shorting BTC during a large correction run are as follows (not in any particular order--as the best buy depends on a number of factors):
-STRAT
-MCO
-NEO
-ADA
-KMD
-MONA
-WAVES
-PIVX
-IOTA
I'm sure I'm missing a few awesome coins, but I just wanted to get this out there during this BTC pump.
BTC will see big resistance at $16,000, $16,500 & $17,000, but do not judge your buy opportunity based purely on small changes on BTC (i.e. $250-750 decrease). Wait until we see BTC close the day. The following day should begin one of 2 ways. (1) Continued pump without a drop of more than $500, or (2) Hard pump followed by a drop that takes us below today's close.
Be very careful, as always, and do not play with all of your BTC at once. With B2X hard fork approaching, there is no reason to strip yourself of BTC unless an Alt is below a 100% Fib retracement--aka "Stupidly Low Price". When B2X drops, we will be receiving an equivalent amount of B2X (respective of your BTC holdings), as well as a "proportional" amount of BTC (which probably won't be a ton of BTC, but it's FREE BTC SO WHY PASS IT UP?
I am only willing to bet ~10% of my BTC on the right Altcoin today because we may see BTC continue through resistance as it has done countless times before.
Stop Loss @ -2.5% investment.
Profit Stop @ +5% initial investment.
Risk Reward ~2:1 (while BTC remains <$16,500).
If BC goes past $17,750, I will stop loss wherever I'm at on any Altcoin.
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