When we are looking at something like the Others chart we have to take into consideration what happened to markets last year end of Q4. The volatility of the ALT coin market is completely contingent upon what happens with much of the large cap cryptos and market sentiment and right now things are looking like they could get bearish before they get bullish. These markets are designed to keep the average retail trader sidelined and at bay giving them little to no significant entries by playing on the emotions of the traders.
Right now things are playing out exactly ho they should. After these big pushes in the market either to the up or downside (particularly in Elliot wave patterns) is followed by a major correction either to mitigate from a order zone, fill imbalance or to liquidate traders to building momentum to swing things back the other way (no pun intended).
In this instance I believe it's all of the above. There are instances where markets have slightly smaller or larger mitigation points but in this example of price action I believe we are not only priming for a big move to the upside but the dumb money (retail) should use caution and know they could be targeted going into the coming weeks. Others could drop another 10-20% and depending on what ALT it is you are trading and the parameters behind the circulating supply and it's market cap could influence things significantly.
**USE PROPER RISK MANAGEMENT**
Right now things are playing out exactly ho they should. After these big pushes in the market either to the up or downside (particularly in Elliot wave patterns) is followed by a major correction either to mitigate from a order zone, fill imbalance or to liquidate traders to building momentum to swing things back the other way (no pun intended).
In this instance I believe it's all of the above. There are instances where markets have slightly smaller or larger mitigation points but in this example of price action I believe we are not only priming for a big move to the upside but the dumb money (retail) should use caution and know they could be targeted going into the coming weeks. Others could drop another 10-20% and depending on what ALT it is you are trading and the parameters behind the circulating supply and it's market cap could influence things significantly.
**USE PROPER RISK MANAGEMENT**
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.