Do not trade with high leverage. You will get wrecked. Use 2-4x max and have enough margin to sustain the volatility. We might see some chop before moving higher. Its inevitable. We have fed rate decision next.
At this point especially for alts, you dont need high leverage to make good returns. Good position size + low leverage is all you need to make better gains.
The PAIN for this cycle is almost over. Alts will pump for 3-5 months and BTC along with top 10 alts will have a few months more than that. End of the bullrun will be at year 2025. remain level headed. Calm down
Its hard to assume what will happen next. But we will most likely test the lower trendline around 57.5%
Im hoping BTC price will maintain while the dominance goes down. This will bring life to the altcoin market. I believe it will stay in the same channel until BTC has a new all time high. Then while the volume increase we will see alts go higher as new money comes in
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Gem100xhunter
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$BTC dominance chart has been forming a raising wedge pattern for over 800 days. This is a bearish pattern that signals exhaustion. Top of the trendline is around 59-60%. From there it may lead to a rejection back to the lower trendline and eventually breaking down to the downside. This will spark altseason.
This is not the time to be cute with your positions. You are witnessing everything infront of you. You just have to know where to look.
Forming a ascending triangle. Constricted from both sides it may act as a pressure cooker. Its been cooking for almost 3 months.
I dont have a crystal ball and there is no way to say if price will move upward or downward.
However we have broken above the bullflag and have successfully retested it from my post a few days ago. So this might be the impulsive breakout move.
An impulsive move is due. It should happen within 20 days. As that is when the apex of the triangle is reached.
Im eyeing 785B which is also the top last may. This will be heavy resistance. This move may seem small. But alot of tokens will do +200% some even more.
Just to be clear im not saying we will reach 785 in 20days. Im saying the breakout should occur within 20 days.
The move down of $BTC seems like its going to retest the upper trendline of the bullflag. If we successfully retest it and it flips into support. Btc will retest 70+k.
$BTC dominance chart has been forming a raising wedge pattern for over 800 days. This is a bearish pattern that signals exhaustion. Top of the trendline is around 59-60%. From there it may lead to a rejection back to the lower trendline and eventually breaking down to the downside. This will spark altseason.
This is not the time to be cute with your positions. You are witnessing everything infront of you. You just have to know where to look.