BTC Overview (Long and Short Term TA and Policy)
BTC showed a downward trend this week (2/6-2/12), turning down just before $25,000. Altcoins remain healthy and therefore easy to trade.
Next week (2/13-2/19), there will be an economic indicator, CPI, on 2/14, which could move the market significantly, so be careful and close out positions around it.
BTC Overview
↓ BTCUSD weekly candlestick chart
This week (2/6-2/12) BTC turned down just before $25,000 and went negative. The monthly chart is also negative.
Nevertheless, as we wrote last week, “February is also positive so far, but I am a little doubtful that it will hold, rather I envision a slight push, as I have posted before.” However, it is clear we are at the $25,000 level, which is a vulnerable level, and it would be dangerous to run into long BTC positions from here. It is better to take a wait-and-see approach. If we see a big push, I want to buy. As I said, this is to be expected.
As for the question of where to buy when the price falls, I am currently looking at the $20,000 area, the $18,000 area, and the $20,000 area as candidates for the weekly update.
Altcoins are healthy currently, so buying altcoins at a time when BTC is about to make a short-term reversal can be a pretty good option.
Continuing from a little while ago, the rise in $BTC has improved the overall sentiment in the virtual currency market, which makes altcoins easier to trade as they are more likely to rise.
From FR and other indications, the market is not yet overheated, and it looks good to stand long altcoins for a while.
The tips for trading altcoins should be reiterated. However, it is a pattern-association game, and once you get used to it, it is certainly easy to get used to. However, it is a pattern-association game, and once you get used to it, it is certainly easy to take advantage of. It is also impossible to take all the pumps, so take it easy when trading.
(1) Altcoins not yet listed on Binance for a long time and have not been cleaned up too much
(2) Altcoins in the same genre as altcoins showing a big rise in recently
(3) Altcoins with high volume (if the tradeboard is too thin, stop orders are likely to be taken out by the wicks)
(4) Position on the daily 200MA
Altcoins are attracted to the 200MA and show a big rise when the price crosses the 200MA
You should trade with these four points in mind.
From next week (2/13 – 2/19) onward, I would like to trade with a focus on zk-series altcoins with regards to (2).
↓ Referenced tweet:
https://twitter.com/CryptoShlug/status/1624469200327647233?t=CDjqPUSbsmw-upLJCqNIcg&s=19
With the ETH update in March, there is also money in the LSD (liquid staking derivatives) family of altcoins, which will be a sector to watch over the next week or so. Specifically, $LIDO, $SSV, and $RPL. The chart below is for reference.
