I'm going to address a topic here that is the reason for 90% of the DMs I receive on INSTA. Let's go...
Gentlemen, last week we had a decline in#BTCDominance, from 60.59% to 58.57%, that is, a small drop in Dominance, but which greatly relieved the selling pressure that existed in ALTCOINS, so we jumped.
However, as the price of BTC fell this week and large investors in FOMO ended up preferring to buy BTC, a natural high at this time of price DISCOVERY. Dominance ended up shooting up and going beyond what it was last week, bringing SELLING pressure back to Altcoins.
This exaggerated rise in DOMINANCE has brought down the prices of altcoins, but a LARGE part of the altcoins like $RAY , $ATOM , $DOT , $ALGO continue to preserve between +30%/ +40% of the profits we earned last week (note that I used large altcoins as examples and other smaller ones preserve even more than +50%).
So I don't understand how most people are upset because we are NEGATIVE today. Do these people think there will be no pullback and it will only be up?
The truth is that a large majority entered last week, after the price rose more than +40%, so when the price fell 15% they were already negative and this upsets them...but the problem is with them, who entered late and not with the market timing.
If you enter a movement of +60% and expect that it will remain POSITIVE at all times, then you are wrong and you should review your thoughts, after all, if you enter a movement greater than +15% you are likely to remain negative for a few days.
Most people didn't buy in the first +5% and when they did after +40% they enjoyed the +20% for a few days and then went into the red, that's the reality and today they want to represent their frustration by saying that the market isn't moving.
Gentlemen, if you were caught in the market pullback and are negative in the SPOT at -20% or -30%, do not sell, do not go into the negative at that moment in the MARKET, THIS STRATEGY IS NOT VALID AT THAT MOMENT!
Stop and think, in the first +20% you will already be positive, even if it eventually takes 1 week, so don't waste money for nothing and HOLD ON!
If you are in FUTURES, then you should not complain about being negative, after all FUTURES is to follow the patterns of reversals and continuations, if you did not detect it, then overcome it and be aware of it next time...
...FIX, IMPROVE OR IMPROVE the input and GET BACK IN THE GAME, stop complaining about the Market and focus, give preference to PURCHASES and choose the clear areas of SUPPORT.
Don't make it seem like the profits didn't come, because they did and it's clear, just open the chart and see that we preserved good profits in the last rise.
Dominance is way too high and will have to pull back sooner or later, so practice patience and remember that in all previous bull markets altcoins only rose significantly for days when BTC stopped at a point on the chart and found its top, and SEE clearly that we are still doing that. We are looking for a top, and until we reach it, Dominance will continue to rise and make it difficult for altcoins.
However, also remember that THE HIGHER DOMINANCE RISE, THE HIGHER ALTCOINS WILL RISE TOO.
In other markets we had the phrase "HIGHER FOR LONGER", Today this phrase is hardly spoken, but that is what we will have "A BIGGER HIGH FOR LONGER" so, stop complaining and keep ACCUMULATING GOOD ALTCOINS and if you CANNOT do this... keep HOLDING what you already have!
This text is not intended to upset anyone, just to clarify and draw your attention to the reality of the matter and to remove most of this chaos that they themselves created in their heads because of the current disbelief in the market.
GOOD LUCK TO YOU ALL!
If you have any questions, contact me on INSTA and I'll try to help!
STAY SAFE! ✊🏻