BTC dom was below 56 yesterday but now its above (56.84). This is understandable, because like I said, focus is now on BTC for the time being. Etfs inflows will increase and I noticed something yesterday thats very bullish. S&P was down whilst BTC was up. We need this to repeat for today and tomorrow. What this means is that money will start to trickle from stocks to crypto. Ultra bullish. Yesterday I announced the beginning of ALT season. ALTS will do well today but I expect this to occur 10 hours from now.
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The scenario that has been playing out has been predicted in Premiums many months ago. All premiums should now be in good profits and all premiums have a general idea which coins to hold. Most important, all premiums are aware of their exit strategy.
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A word of advice at this stage of the cycle. There is not much meat on the bone for profit on BTC. You should now be in ALTS. Spots instead of leverage.
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Alts starting to gain strength as predicted but it will be another 3-4 hrs before they gain more momentum. BTC will have as backbone the upper yellow trend line of the triangle but it will re-enter the triangle as stated.
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Allow me to share some education that my premiums have learned and now begun to put into practice.
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Most coins (if not all), will rise. Do not make the mistake of being trigger happy. Do not start selling and buying, jumping from one horse to another. Stick to your coins.
Be cool. Most of the decisions you make under emotions are wrong.
Focus on the big picture, but judge day by day.
Be ready to change bias
Have your exit strategy ready from now
Most traders will now boast of profits. Its a bull market, even noobs can boast of profits. The secret is when to get out.
We will get out
Keep risk to a minimum. Don't aim to exit at the top, you won't time it. Aim near the top, or aim in the close vicinity. Profit is profit.
Take profits . You will best achieve this when you exit via DCA.
Profit profit profit
Be cool. Most of the decisions you make under emotions are wrong.
Focus on the big picture, but judge day by day.
Be ready to change bias
Have your exit strategy ready from now
Most traders will now boast of profits. Its a bull market, even noobs can boast of profits. The secret is when to get out.
We will get out
Keep risk to a minimum. Don't aim to exit at the top, you won't time it. Aim near the top, or aim in the close vicinity. Profit is profit.
Take profits . You will best achieve this when you exit via DCA.
Profit profit profit
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The following, is a small part of the report my premiums got.
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In my recent BCW AMA post, I ended with the following sentence "Its 100% adrenalin, fear and anticipation (and here is when you will need guidance because you will make the gravest of mistakes so listen to your mentors). "
Mistakes are caused by emotions, and there is no way that you can avoid them because we are human, instead, we have to try and control them. It happened to me in previous cycles, I know exactly how it feels, so I will try and explain it, so you can avoid this mistake. I'm assuming that you're now at a stage where you have your portfolio and are now waiting for your portfolio to earn profits. During a pump, you get hyped up. You feel that you need to get involved, and one of the ways that 'you feel' that you need to do is to click on the buy/sell button, even when there is no justification for it. Most of the time, you look at your coin and then you see another coin that outperforms it, so you sell it (during the pump) and buy the new coin, only to see your older coin pump later on. Its a pump, most coins will rise, its just that that each coin has its own small cycle, so if your coin isn't pumping now, it will catch up later on. In the mean time, every time you do this, you increase risk. You don't usually put the same effort in dyor in the new coin, because with emotions, everything is done in a hurry. In order for you to have a portfolio, it means that you have done your homework and now waiting for you investment to perform. The only way that I would sell any of my coins at this stage, would be if something went wrong (hack etc) or it has reached its top and its showing weakness.
Also, at this stage I would not take part in any ico's, airdrops or coin lock ups. You need to be ready for your exit, when the time comes.
Mistakes are caused by emotions, and there is no way that you can avoid them because we are human, instead, we have to try and control them. It happened to me in previous cycles, I know exactly how it feels, so I will try and explain it, so you can avoid this mistake. I'm assuming that you're now at a stage where you have your portfolio and are now waiting for your portfolio to earn profits. During a pump, you get hyped up. You feel that you need to get involved, and one of the ways that 'you feel' that you need to do is to click on the buy/sell button, even when there is no justification for it. Most of the time, you look at your coin and then you see another coin that outperforms it, so you sell it (during the pump) and buy the new coin, only to see your older coin pump later on. Its a pump, most coins will rise, its just that that each coin has its own small cycle, so if your coin isn't pumping now, it will catch up later on. In the mean time, every time you do this, you increase risk. You don't usually put the same effort in dyor in the new coin, because with emotions, everything is done in a hurry. In order for you to have a portfolio, it means that you have done your homework and now waiting for you investment to perform. The only way that I would sell any of my coins at this stage, would be if something went wrong (hack etc) or it has reached its top and its showing weakness.
Also, at this stage I would not take part in any ico's, airdrops or coin lock ups. You need to be ready for your exit, when the time comes.
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Finally I want you all to understand what an "ALT run " is. I don't know if you lived through one before or not, but it is something spectacular and terrifying at the same time. Everyday, when you look at your portfolio you see it go x2 or x3. Everyday for 1-2 weeks, you look at your profits and your heart is racing. You are then given a false hope by your emotions, that this will last forever. Every coin that has been red for months in your wallet is now printing money. You canβt sleep at night. When you do, you wake up many times to check your phone. In the morning the first thing you do is check your portfolio, on the way to work, during work. Its 100% adrenaline, fear, and anticipation. To the experienced trader, itβs the feeling of walking on thin ice that can give way at any moment.
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Your next decision will be "when to get the fuck out".
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Btc dom holding below 56% again and dxy below 106 BUT the whole of crypto needs to take a breather, a rest, to catch up its breath in order to move higher. Tomorrow is a very important day and according to data, will probably set the mood for the weekend.
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BTC taking a much needed rest. Profits were taken and rightly so, but some of these profits found their way into ALTS which is to be expected, The 15 min wick to 92300 is significant because at some point it will be revisited. Historically, this is what happens. Our BTC is now on the upper line of our comfort box and I expect this line to be its backbone for now. There is mid confidence that the yellow trend line will come into play. Note, this is a descending trend line, which will bring BTC into the box. BTC dom now below 56% and may break below 55% today. This favors ALTS, and they will out perform BTC today. For the new members, note I only use BTC chart to get a direction of the general market. You should be in ALTS now, and its the sideways/weakness of this chart chart that determines direction for ALTS.
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In 6 hrs we have unemployment data. Above 4.2 will put pressure on all markets, including crypto. Watch and react. Pre-markets may have an indication of this number shortly before release so we will observe and we may spot something in 5 hrs from now.
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Its important for us for unemployment to come at 4.2. This will give us a good mood and enough momentum to carry us in green during the weekend. Again, emphasis will be on ALTS. If, by any chance we get 4.1, fasten your seat belts.
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For the next week, I will be concentrating on cycles and fundamentals. Need to time the top on ALTS as accurate as possible. There are events that we have absolute no power over. A lot of fundamentals that may overpower cycles. We have our 2 top narrative and as I write this, we exit on the first top, but before we do this we will see how the second top is progressing. This may extend our objective for another 7-10 days, which, surprise surprise, coincides with the Γ/- 5-7 day error that cycles have.
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For the time being, there is no greater bullish factor for ALTS, when BTC is weak and they go up. Repeat, you should be in ALTS now.
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