Should we be buying ALTS now?

2021年7月21日

It has been a hot topic of whether to take entries into ALTS is a good option now or not.

We too took our sweet time checking markets for sure.

ETHUSDT which is the Pied Piper for ALTS(mice) is currently facing a sort of resistance (around 1900). If we break through this $1900 level with a good volume then surely that can be considered as a good sign of taking entries into ALTS, but for now, we at ChainAssets.Capital would recommend that you take extra caution in taking your position, and keep Short Ratio more as compared to Longs.

Overall Price Action and Trend Analysis is in favor of Shorts. So be prepared for anything here, but the level of $1900 should not be ignored.

If the above analysis proves to be true, we are eying a Target of $1300 in ETHUSDT and $13600 in BTCUSD.

NOTE: Need to wait till Daily Candle closure (LONG If it closes above 29278, & SHORT if Daily Candle Closes below 29278)