Altcoins are hardcore following ETH
Updated
As of now all alts and TOTAL2 is mimicking ETH since ETH is also dominating Altcoins more than BTC in my opinion. Comparison of ETH/BTC, TOTAL2, and ETH Doms charts are proving this.
My RISK-range is between 1400-2850 USD. Trading in this range makes sense to me. Expecting accumulation period to last as long as until January. Hoping for ETH/BTC to not drop much lower than 0.041-0.045 because that would be bad for all alts including eth.
Speaking of which, you don't even need to do any TA to any of your altcoins yet. It is honestly a waste of time.
If I was to trade altcoins, I would follow this;
Follow what BTC is doing > Look at both ETH and BTC dominance > See if BTC is closing on breaking a trend > See if ETH is closing on breaking a trend after BTC does > Look if TOTAL2 or ETH/BTC is making any moves > Do some fundamental analysis of news and dates for your altcoin by comparing it in its own group of coins (Defi, NFT, Oracle, Store of Value etc.) > Do the TA for the altcoin > Plan your entry and exit for your longs or shorts > Stick to the plan
My RISK-range is between 1400-2850 USD. Trading in this range makes sense to me. Expecting accumulation period to last as long as until January. Hoping for ETH/BTC to not drop much lower than 0.041-0.045 because that would be bad for all alts including eth.
Speaking of which, you don't even need to do any TA to any of your altcoins yet. It is honestly a waste of time.
If I was to trade altcoins, I would follow this;
Follow what BTC is doing > Look at both ETH and BTC dominance > See if BTC is closing on breaking a trend > See if ETH is closing on breaking a trend after BTC does > Look if TOTAL2 or ETH/BTC is making any moves > Do some fundamental analysis of news and dates for your altcoin by comparing it in its own group of coins (Defi, NFT, Oracle, Store of Value etc.) > Do the TA for the altcoin > Plan your entry and exit for your longs or shorts > Stick to the plan
Note
LinesORANGE = TOTAL2 (ALTCOINS)
BLUE = ETH.D (ETH DOMINANCE)
YELLOW = ETH/BTC CHART
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