4hr_& a look @using ETH/BTC Dominance & other "PURE" indicators://i started using the crypto market it self as my indicators. its all i use anymore (besides a sneak peak at some other indicators here and there) THis is it and all u need in this market. Maybe through in some DeFi market cap and dominance charts among other quick looks but for a day in day out indicator u really cant beat this if you can give your self time to really watch this market and its alien tides of money pushing and pulling through the narrow exit and on ramps at a fire hose pace.
ETH dominance combined with BTC dominance is really the bread and butter. build your own indicator and learn to watch this market, the correlation between these indicators and your favorite alts. or even fav block chain and how she interacts all as one eco system.
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://the first arrow teals us that eth dominance (fat green line) trumps
btc dominance (fat gold yellow line) or possible uptrend/money entering the market. with ALT coins (purple skinny line), eth (green skinny line) and then btc (burnt orange) following
this eth load up as money enters the market
we then see, alts/eth/btc, level off and show signs of a down trend. at the same time u can see ETh dominance spike (but this time BTC dominance has a sharper correlation) as ETH/ALTs/BTC
ie the crypto market downtrends and money leaves the market.
the reason we see the ETH dom spike is due to the limited number of on and off ramps into this crypto eco system. So to enter, esp in larger amounts, you need to pass through the "ETHERUM
Gate/Road/Whatever" that and most alts are on the ETHERUM block chain or ETH alts.
It is worth mentioning that we have watched alts bleed into other block chains in significant liquidity so it may be worth watching these other metrics,
esp in a pure up trend or down trend ie stable or more consistent market conditions. Like if you day trade esp alts. I also use a DeFi market cap and dominance indicator lines in addition
n to what you see now... but again thats more when im playing the ALT market etc like i just mentioned above
Happy 4th to my fellow US homies out there. HGM 0Ut_
set buy orders for stink bids BTC 19500 n down to 16000ish with heavy orders in that 1800s to maybe hi 1700s but this is a more wait n see as it happens situation (same or eth)
set buy orders for stink bids ETH 965 n down to 6500 ish but concentrate at 900s to 800s here and for me and mine WILL BE our heaviest position.
I would use 30% of available funds for initial btc n eth positions and cost average in or buy heavy once uptrend confirmed with maybe a small feeler in an alt or two maybe 3 but i mean small and more a place holder.
