This newsletter is sponsored by 2 amazing companies: VOYAGER and PHEMEX.I use Voyager for my spot trading and investing (and to compound interest) and I use Phemex for trading with leverage. Sign up to both with the links above and get some free Bitcoin. I really encourage you to check them both out - you know that I never endorse a product that I do not use!I am cautiously optimistic about altcoins heading into the weekend. I want to be clear - there are no immediate trades here and I am not sure that I will be personally trading any alts in the coming days. These are the ideas that I am watching - they should be viewed as educational. If you are looking to trade alts and are interested in any of these, apply your own system and see if they fit. I am attempting to offer "if," "then" trades here - if a certain thing happens, then you may want to consider and entry. These could all fail before even triggering. They could all fail even after triggering, depending on what Bitcoin does. Last Friday worked out well - we effectively had an alt season last weekend and I know a lot of you made quite a bit of money based on your emails and messages. That does NOT mean that it will happen again. Manage your risk and don't take too many positions (if any). Trading altcoins is always risky, and particularly so now, with Bitcoin wavering. YOU ARE RESPONSIBLE FOR YOUR OWN FINANCIAL DECISIONS. You are grownups. Nobody can tell the future from looking at a chart. All we can do is take higher probability setups with good stops and position sizing.The most encouraging thing is that BTC Dominance rose but fell back quickly, and seems like it may continue further to the downside. That would be potentially good for alts. Further, Ethereum continues to look great in its BTC pair, which has been a tell tale sign in the past that alts are safe to trade.
The Wolf Den #58 - POTENTIAL Trades
The Wolf Den #58 - POTENTIAL Trades
The Wolf Den #58 - POTENTIAL Trades
This newsletter is sponsored by 2 amazing companies: VOYAGER and PHEMEX.I use Voyager for my spot trading and investing (and to compound interest) and I use Phemex for trading with leverage. Sign up to both with the links above and get some free Bitcoin. I really encourage you to check them both out - you know that I never endorse a product that I do not use!I am cautiously optimistic about altcoins heading into the weekend. I want to be clear - there are no immediate trades here and I am not sure that I will be personally trading any alts in the coming days. These are the ideas that I am watching - they should be viewed as educational. If you are looking to trade alts and are interested in any of these, apply your own system and see if they fit. I am attempting to offer "if," "then" trades here - if a certain thing happens, then you may want to consider and entry. These could all fail before even triggering. They could all fail even after triggering, depending on what Bitcoin does. Last Friday worked out well - we effectively had an alt season last weekend and I know a lot of you made quite a bit of money based on your emails and messages. That does NOT mean that it will happen again. Manage your risk and don't take too many positions (if any). Trading altcoins is always risky, and particularly so now, with Bitcoin wavering. YOU ARE RESPONSIBLE FOR YOUR OWN FINANCIAL DECISIONS. You are grownups. Nobody can tell the future from looking at a chart. All we can do is take higher probability setups with good stops and position sizing.The most encouraging thing is that BTC Dominance rose but fell back quickly, and seems like it may continue further to the downside. That would be potentially good for alts. Further, Ethereum continues to look great in its BTC pair, which has been a tell tale sign in the past that alts are safe to trade.