Bitcoin dominance goes up during the bear market as bitcoin is the safe haven asset and it goes down during the bull market as people get confidence and go out the risk curve You can make some huge gains with non-bitcoin crypto assets but only possible during a bull market I believe we are at the start of a bull market, so I have been loading up and having some very good profits in other non-btc crypto assets
For the time being though, we sure ain't going anywhere. I think the whales are out hunting stops. C'mon, up or down, don't care. Just get your ass moving.
We are going places in the whole crypto assets ecosystem, but it's hidden from the tradfi folks It's the same thing with the Tech stocks slurping up billions upon billions of $$$ and most market people are still waiting for the "crash" There's liquidity $$$ flowing to all the markets.. TA should be able to sense it, but as an FA guy, I see it everywhere I'm making thousands of % on other crypto assets position of the profits I have on my trading position below which is strictly bitcoin-linked And I have not cashed out any profits to $... This bull market is only getting started, imho. I'm ready to derisk if I see any sign of troubles
I'll give you that much. This beast doesn't seem to wanna come down. I was hoping for a good selloff today but she ain't budging (not yet at least). I think I'll bail out at the end of the day, if nothing dramatic happens.
Check out these metrics. 1 week and 6 months are pretty much at par. That means you've ran around in circles for the last 6 months for nothing. Good thing is that, except for the yearly, all the metrics are pointing up. Which leads me to question, why the hell am I short?
Short term for the past year or even 6 months (except last month and a half), it was profitable to sell the rallies, every time btc was above $20k, it would crash below I don't know if you remember that one post of yours on Bitcoin price thread btc shot up above $20k only to go below within a few weeks For the moment, my chart is bullish, stock market closed for the weekend, only traders squaring off, longs and shorts
Lowering the stop to just above the trendline. I've since realized that these weekenders tend to be a little sneaky. Better be safe than sorry. At the very least, I'll come out with a little pocket change. BTW being able to trade on the weekend is both exciting and kinda dangerous to one's sanity.
I think 'due for a breather' might be correct and we are at that 50% on many products. I would be careful of shorts due to investors trying to get in on the rally and looking for opportunities to improve their average buy price. As John said earlier,it may be a BTD scenario that works at the moment,as opposed to a sell the rally of last year.
Sorry-looked at the chart more carefully and I see what you've got there. Nice short term trade with stop/worst case still in profit. Nice one.