Bitcoin dominance has had a retrace this week, as a few large alts like ETH and DOGE had major rallies this week. However, beware of this move as we are still in a risk-off cycle for Altcoins and the risk of holding Altcoins here is still high.

Back in April we had a similar bull-trap on Bitcoin dominance where Altcoins briefly rallied but got destroyed when markets dumped in June.

I continue to focus on accumulating BTC and ETH in this risk-off period, as it gives me a good balance of safety and risk.

If you are in profits from some of the short term narratives like Chiliz/fan tokens highlighted in our newsletter, remember to secure profits.

We are still in a bear market. Focus on accumulating Bitcoin and Ethereum, and wait for the opportunities to come. Personally I will keep waiting until Bitcoin Dominance reaches close to the 47% level before buying into Altcoin positions for long term holds.