Teddy
Teddy 2 minutes reading from Bitcoin

Bitcoin and Altcoins: A Decentrend to Either Direction

Weekly trend suggests that a big move will happen soon, as trend is getting squeezed in a descending triangle.

Currently in the middle of an enormous range, both extremes were never retested upon being broken.

Either direction will provide us with priceless opportunities.

BTC

Breaking the pattern upwards will suggest that BTC will retest previous support as resistance - high 20s.

The opportunities here lie in riding altcoins upwards that will inevitably follow bitcoin - with a much greater R/R than this big old dinosaur.

Breaking the pattern downwards will suggest that BTC will retest previous resistance as support, low 10s.

The opportunities here lie in buying bitcoin and altcoins at a massive discount, a position that you could comfortably ride stress free for the years to come.

I do not know the direction that the market will take, I can't predict the future - but i can surely prepare myself for each scenario.

Ask yourself:

- What coins should I buy if we get an impulsive move up? - What coins should I buy if we get an impulsive move down?

The coins that you should buy on different scenarios will be different, why?

👇🏻👇🏻

Upwards scenario:

Here you want to ride coins that may not be 'as established' as they are often subject to higher volatility - aka they pump harder.

You are picking coins that are hyped today, no need to worry about their positioning in years away.

Hype > Common sense

Downwards scenario:

Here you want to ride coins that are drastically more 'solid' - they may pump less in contrast to less established shitcoins but at least they will be here in a few years.

Focus is long term survival - as you will be holding them a lot longer.

This post is based on this twitter thread.

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