ALTCOIN Bear vs Bulls : Neutral Sentiment - alt coins are losing bull power, Neutral ground
ALTCOIN SCOREBOARD - For now only long time investments are better calls, swing trading is hard this coming week or 2
4 BEARISH
3 NEUTRAL
3 BULL
This means ALTCOINS Are just as likely to rise as they are to fall currently. I Use ETH, ADA, NEO, ARK, NANO, EOS and ICX as main indicators, if all start an uptrend, you can be sure of a general altcoin run up against BTC.
But currenly with BTC gaining strength, the general bullish sentiment has lost its strength making its very hard to call a short term altcoin long position. For short term trading, im currently consideing to push back to btc, if it gains momentum, it tends to hurt altcoins in the short tun (if compared to btc value).
Not Financial advice, doing it for fun have a good one.
#ADABTC still hasnt broken the support line
#Sign Bullish/neutral
#NEOBTC Broke Support Line slightly -
#Sign: Bearish Sentiment
#EOSBTC Broke the new trend support line - looks like it will target the long term support line
#Sign: Bearish
#ETHBTC Still in the middle of the run up
#Sign: Bullish Sentiment
#ICXBTC still in bear pattern, may break lower
#SIGN Bearish
#ARKBTC Just broke long term 4hr Support - its still in the Recovery Zone
#Sign Bearish to Neutral
#NANOBTC Still in the middle of the 4HR uptrend Channel
#Sign Neutral to Bullish
nice!
Been doing alt coins for a while now and what I've found it that when bitcoin goes up then alt coins go down; I'm talking about tokens with ether or bitcoin; sometimes they go down a long way and I feel to panic, but sooner or later they go back up huge...
yes its the rule by thumb when bitcoin consolidates, altcoins start running up,
ada and neo especially started the last strong altrun a few weeks ago, other altcoins followed afterwards, so im keeping track of them.
Sometimes many altcoins at the same time form strong bull or bear consolidation positions, so it makes swing trade decisions easier, if you are not certain, about one trade you wanna do
For example maybe i wanna trade LSKBTC as an example, but if my major altcoins have bear signals, ill most likely wont do the LSKBTC trade, since leading altcoins are losing momentum, LSK would follow (with a big probability, there is always the off chance that it wont follow ofc)
this is pure chart trading, ofc if you have a project where you do research and you are aware of the roadmap, then its a total different story, haha, I do this just for swing trades, generate some extra btc, so i can pour it into other longterm investments