Short term trading conditions are still not ideal.

Dont lose money chasing losses now.

We are still in the middle of the overall Crypto market cap.

A lesson for newer traders, (See Total image)

When you see candles like we saw on the daily Crypto market cap from yesterday (candles with a medium body and long wick), there is a strong likelyhood price will test that wicked area in the near future, works mostly on higher time frames 1H or more.

We could see price drops to test the middle of that wick zone($2.275T) in the coming days, we are still above the Crypto range low of $2.165T

Also note BTC dominance is still way above any level to start an ALT season, Currently 55%, we would need a substantial drop to see any ALT season start and i dont believe that will happen.

The only time this year we have even come close to 50% BTC dominance is after the BTC ETF when Grayscale ETF shares were sold off which caused huge temporary sell pressure on BTC, the price and BTC dominance quickly recovered and has not come close to the parabolic ALT season many false clickbait post or videos have claimed.

If you insist on investing in the current market conditions then your best and safest option is to invest most of your funds into BTC.

We have no clear direction at the moment and we have room to test the range low.

Tomorrow will be key!

Tomorrow we have US unemployment claims, this will be a key focus for traders as employement is a key factor the FED uses to determine Policy.

We have fallen in price in the last week as the optimistic view of 3 cuts,was then moved to 2 cuts, and then the FED said it will likely be only 1 cut, this was terrible for crypto. We now need a lot of future inflation and Jobs data to go in our favour for 2 interest rate cuts to become possible again.

Honestly short term trading now is just guessing, if you got into spot on this dip then dont panic if prices fall a little more, we still have room to fall and recover.

Now is not the time for Shitcoins!

Be Smart

DYOR before investing