Altcoin Market Cap Analysis - Levels for Accumulation
Hi Traders,
This altcoin market cap weekly chart is looking very interesting - The pull-back off the 23.6 fib level is a positive sign that the bottom has been marked, and now we can accumulate below this level like pros. I am taking a new fib from the December swing low to the June swing high, and using these levels to make my purchases - (specifically the 50%, 38% and 23% retracement levels).
Ultimately I think we are currently battling the$100B psych level, which pretty much trumps all the TA on screen - buying below this level is ideal if your altcoin convictions are still alive.
Strategy, patience and high risk tolerance is all that is required here.
Best of luck, hit thumbs up.
This altcoin market cap weekly chart is looking very interesting - The pull-back off the 23.6 fib level is a positive sign that the bottom has been marked, and now we can accumulate below this level like pros. I am taking a new fib from the December swing low to the June swing high, and using these levels to make my purchases - (specifically the 50%, 38% and 23% retracement levels).
Ultimately I think we are currently battling the$100B psych level, which pretty much trumps all the TA on screen - buying below this level is ideal if your altcoin convictions are still alive.
Strategy, patience and high risk tolerance is all that is required here.
Best of luck, hit thumbs up.
