What I think & I’d do : first of all ,normally I’d start to b | Crypto Bravehearts
What I think & I’d do : first of all ,normally I’d start to build longs from here . BUT ,very very cautiously ,the safest thing would be to wait for some confirmations & seeing some reversal signs first . Why ? Because things may surprise us ( no matter how ) ,that’s why we don’t shouldn’t guess& hope what will happen ,but to have our plans and react based on our triggers . I’ll share some charts ,mostly swings ,because on ltf if I share a setup ,and btc moves in either direction ,would be useless ) .
Tomorrow’s FOMC also important ,to confirm the CPI & get things worse ,or trying to reanimate the market & create from this drop another mega fakeout and big reversal ( I know ,this is the most optimistic scenario ,but you saw the covid crash & reversal ,& many others manipulations ) .
So ,continuing to see a longer bear market ,this is the bubble burst ,big recession and the top is in ,as stocks keeping printing lower highs/lower lows .
Or finally market will find the bottom and start to see new green weeks/months then ,being pushed by FED .
Or a ranging market ,bouncing locally & then more choppy PA
3 scenarios ,ready for all . Normally here most of strong altcoins are looking bottomed ,or anyway sitting on the strong htf supports ( or near ,with maybe max -20/-30% left to wick down & bounce ) ,so would be a great start to enter/build positions ,”defended” by watching stocks & btc’s chart - I mean if you see losing local support ,can exit & re-enter your alts only after seeing btc’s bouncing and holding the local support . That’s I’d do .
BUT - never blindly ,if you’re not experienced & you’re can’t manage positions ,and you prefer to focus on swing trades ,then strong FA projects are the play - keep in mind ,big supports can always be lost if btc will do it as well . Altcoins count 0 if stocks ,then btc ,will not bounce . But if the local bottom is in / is near ,then is ok to consider some of these alts shared on my watchlist.I’ll update later as always
