WHEN SHOULD YOU BUY AN ALTCOIN? 🧠
OR
WHEN WILL THE BULL RUN START? 🧠
1. To buy an altcoin, always check the 1D or 4H timeframe. Look for a change of character, meaning it should break its previous lower high.
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2. For the altcoin season, monitor the ETH/BTC chart. If it’s in an uptrend and above the 200-day moving average in the 1D timeframe, it's a great signal to dive into altcoins.
3. Another key factor is Bitcoin dominance (BTC.D chart). If it's in a downtrend and below the 200-day moving average in the 1D timeframe, it's a good time to consider altcoins.
4. Remember, markets are volatile, and things can change in an instant. These are just some key indicators to watch before diving into the altcoin market.
5. Some altcoins might pump due to specific fundamental reasons, where points 2 and 3 might not apply.
6. Some professional traders use different techniques for their analysis and don’t rely on these indicators, which can also be valuable to learn.