So to trade altcoins. It's one of the most difficult things to do in the market.
Why?
Well the altcoin usd pair is in HEAVY correlation with the BTC pair. So CWAR:BTC dictates CWAR:USDT moves. And CWAR:BTC depends on what BTC does.
So in order to trade an altcoin, You really need to do 3 bits of technical analysis. One for the btc pair, one for the usd pair and one for BTC.
At the moment CWAR:BTC AND CWAR:USDT basically gave all of the pump back. We are at a support area and also back in the old range.
The BTC pair found support on the -1.3414 fib, trendline and value area low (a front run for the moment).
And the usdt pair found support at the CC, 0.75 Fib speedfan, Anchored VWAP from the low of the move (to the dollar).
Personally took a long from this area.
If lost, i am looking down to the global poc or the value area low.
This is no financial advice, paper trades only
Why?
Well the altcoin usd pair is in HEAVY correlation with the BTC pair. So CWAR:BTC dictates CWAR:USDT moves. And CWAR:BTC depends on what BTC does.
So in order to trade an altcoin, You really need to do 3 bits of technical analysis. One for the btc pair, one for the usd pair and one for BTC.
At the moment CWAR:BTC AND CWAR:USDT basically gave all of the pump back. We are at a support area and also back in the old range.
The BTC pair found support on the -1.3414 fib, trendline and value area low (a front run for the moment).
And the usdt pair found support at the CC, 0.75 Fib speedfan, Anchored VWAP from the low of the move (to the dollar).
Personally took a long from this area.
If lost, i am looking down to the global poc or the value area low.
This is no financial advice, paper trades only