TradeCityPro | ALTUSDT Analysis Good Spot Buying Opportunity?
👋 Welcome to the TradeCityPro channel!
Let’s dive into analyzing one of the newer altcoins in the market, ALTUSDT, which might offer a solid spot entry opportunity tonight.
🌱 Bitcoin Overview
As always, we begin by checking Bitcoin's performance , Bitcoin hasn't moved much compared to yesterday.
However, Bitcoin dominance is declining, which has allowed altcoins to gain momentum , If Bitcoin remains range-bound and its dominance continues dropping, altcoins might sustain their upward trend.
🕒 Weekly Timeframe
ALTUSDT has recently been listed and has dropped approximately 88% since listing, following the typical behavior of newly listed coins.
After this decline, it has been consolidating within a range box for about 120 days.
Now, the coin is testing the resistance at $0.16293, and it appears to be breaking out.
Risky Stop-Loss: Place it just below the shadow of the current candle, considering the buyers' strength.
Secure Stop-Loss: Place it at the bottom of the range near $0.0732 and hold for targets.
🔑 Daily Timeframe
trigger at $0.13342 allowed for a buy earlier. If you missed that entry, you can buy after a breakout of $0.16293, using a stop-loss at $0.10133.
RSI Entry Trigger The key RSI level to watch for entry is 82.57, signaling strong upward momentum.
No need to analyze lower timeframes extensively because the limited data on this coin makes trading it challenging , For futures trades, there are already sufficient setups in the channel.
💡 BTC Pair Insight
Relative to Bitcoin, ALTUSDT has been in a downtrend, forming a range due to significant trend weakness , breakout from this range could initiate an uptrend relative to Bitcoin.
If I purchase the coin and its BTC pair shows bullish movement, I’ll continue holding.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Let’s dive into analyzing one of the newer altcoins in the market, ALTUSDT, which might offer a solid spot entry opportunity tonight.
🌱 Bitcoin Overview
As always, we begin by checking Bitcoin's performance , Bitcoin hasn't moved much compared to yesterday.
However, Bitcoin dominance is declining, which has allowed altcoins to gain momentum , If Bitcoin remains range-bound and its dominance continues dropping, altcoins might sustain their upward trend.
🕒 Weekly Timeframe
ALTUSDT has recently been listed and has dropped approximately 88% since listing, following the typical behavior of newly listed coins.
After this decline, it has been consolidating within a range box for about 120 days.
Now, the coin is testing the resistance at $0.16293, and it appears to be breaking out.
Risky Stop-Loss: Place it just below the shadow of the current candle, considering the buyers' strength.
Secure Stop-Loss: Place it at the bottom of the range near $0.0732 and hold for targets.
🔑 Daily Timeframe
trigger at $0.13342 allowed for a buy earlier. If you missed that entry, you can buy after a breakout of $0.16293, using a stop-loss at $0.10133.
RSI Entry Trigger The key RSI level to watch for entry is 82.57, signaling strong upward momentum.
No need to analyze lower timeframes extensively because the limited data on this coin makes trading it challenging , For futures trades, there are already sufficient setups in the channel.
💡 BTC Pair Insight
Relative to Bitcoin, ALTUSDT has been in a downtrend, forming a range due to significant trend weakness , breakout from this range could initiate an uptrend relative to Bitcoin.
If I purchase the coin and its BTC pair shows bullish movement, I’ll continue holding.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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