Understanding BTC Rejection and Altcoin Performance 🧵
This rejection on $BTC is actually really good for some alts.
- Expecting a +100% gain in the coming days/weeks.
- Such moves typically wouldn't occur if $BTC were breaking out and stealing the spotlight.
➣ Chop/Consolidation Benefits ⏳
- A rejection on $BTC and further consolidation will give certain alts the attention they need for monster moves.
➣ Risks for Other Alts ⚠️
- Many alts will bleed along with BTC during this correction.
- Differentiating which alts may outperform and which may suffer is crucial.
➣ Key Strategy 🔍
- Check respective ALT/BTC pairings along with USD pairing charts.
- Those on support on BOTH may outperform during this window.
- Those at resistance on BOTH will likely fall even harder than BTC.
➣ $CVX Example 📊
- $CVX is on support, as demonstrated with charts shared in recent days.
- Positioned to potentially outperform during this BTC rejection phase.
Stay informed and monitor charts closely to navigate the market effectively!
