SOL / TetherUSLong
ALTCOIN Market via SOLANA
SOLANA is a good example of many Altcoins right now, what are we seeing and how do we position accordingly?
Proceed with caution. Poppa Bitcoin is not called King for no reason. A lot of altcoins are looking juicy indeed and even myself am tempted to dump my hard earned funds into many of them. ALTS are a different animal, DYOR and pick ones you believe in long-term that hopefully are not just meme-coins or something you saw on in an advert. Do a little research, what are people talking about currently? What's new on the market? What's shiny, new and exciting? For me the last time I discovered a gem was Solana at $3 and boy did I mess that one up. Live and learn, move on. Point is the methodology worked and will apply to the next one or get another opportunity on a gem you may have missed.
If you are DCA-ing, be ready to ride the dips and volatility especially when Bitcoin is undecided as far as direction goes. Many altcoins have already experienced bear markets themselves to-date, THETA and SOL as good examples.
I will say this, I don't believe crypto to be dead and so buying down in these areas produces significant points of opportunity, the 'bottom' in other words is 'Point of Maximum Financial Opportunity' - meaning the best possible point in time to bid a long-term position which will EVENTUALLY come.
I'm not saying we are there yet, but the time will come and I don't think anyone expected these low prices again so soon. My opinion is take advantage of it, don't miss the next cycle or get in before others do. Be patient, disciplined, build up positions and be ready to wait, if you're an investor.
Shorting around these levels would need to be short-term in my opinion, we've already dropped to the low of the lows and are starting to look for bottoms - not the best time to short for a swing trade IMO. Likely you'll be stopped out with a squeeze or just chop up your stack. Being in stables on the sideline is short enough for me currently, waiting for the moment you wake up and it's clear there has been a reversal.
Position yourself for the future.
V
Proceed with caution. Poppa Bitcoin is not called King for no reason. A lot of altcoins are looking juicy indeed and even myself am tempted to dump my hard earned funds into many of them. ALTS are a different animal, DYOR and pick ones you believe in long-term that hopefully are not just meme-coins or something you saw on in an advert. Do a little research, what are people talking about currently? What's new on the market? What's shiny, new and exciting? For me the last time I discovered a gem was Solana at $3 and boy did I mess that one up. Live and learn, move on. Point is the methodology worked and will apply to the next one or get another opportunity on a gem you may have missed.
If you are DCA-ing, be ready to ride the dips and volatility especially when Bitcoin is undecided as far as direction goes. Many altcoins have already experienced bear markets themselves to-date, THETA and SOL as good examples.
I will say this, I don't believe crypto to be dead and so buying down in these areas produces significant points of opportunity, the 'bottom' in other words is 'Point of Maximum Financial Opportunity' - meaning the best possible point in time to bid a long-term position which will EVENTUALLY come.
I'm not saying we are there yet, but the time will come and I don't think anyone expected these low prices again so soon. My opinion is take advantage of it, don't miss the next cycle or get in before others do. Be patient, disciplined, build up positions and be ready to wait, if you're an investor.
Shorting around these levels would need to be short-term in my opinion, we've already dropped to the low of the lows and are starting to look for bottoms - not the best time to short for a swing trade IMO. Likely you'll be stopped out with a squeeze or just chop up your stack. Being in stables on the sideline is short enough for me currently, waiting for the moment you wake up and it's clear there has been a reversal.
Position yourself for the future.
V
Vatsik
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.