SUB/BTC on Binance with some decent profit potential here. Testing a bullish order block, uptrend lines still intact. .5 Fib level sitting on the bullish block. Volume picking up as well. All of these signs-----> Bullish
But!! Every trade has risk, and there are clear potential signs that this trade could go south...
1.) BTC/USD has been crazy with the Bart simpson (lol) patterns the past few days, So a flash crash OR flash pump of BTC could send $Sub below the order blocks and strong supports, depending on how strong these hands are. Going below these supports would inherently defeat most of the bullish signs for this trade, so keep an eye on BTC when trading Alts. Remember: For the most part, alts will pump when BTC is relatively stagnant.
2.) EMA lines sitting a few sats above current price, so they may stop the trade from making big gains. Watch for breaks and retests of the EMA lines.
3.) General market sentiment. This does not mean that we will not see an increase in price, but that the likely hood of regular trades going to crazy % returns is getting smaller, due to the fact that many traders are looking simply for profits rather than alt-season type gains.
Personally am long, if you follow and profit hit me up! Want to hear back from all the pipo hear on TV. If this trade goes south and you call it, comment here why you thought it would go down. I want to see the point of view from some other traders, and I would love to chat about some TA with anyone who wants to bounce some ideas back and forth. Goodluck all and happy trading!
But!! Every trade has risk, and there are clear potential signs that this trade could go south...
1.) BTC/USD has been crazy with the Bart simpson (lol) patterns the past few days, So a flash crash OR flash pump of BTC could send $Sub below the order blocks and strong supports, depending on how strong these hands are. Going below these supports would inherently defeat most of the bullish signs for this trade, so keep an eye on BTC when trading Alts. Remember: For the most part, alts will pump when BTC is relatively stagnant.
2.) EMA lines sitting a few sats above current price, so they may stop the trade from making big gains. Watch for breaks and retests of the EMA lines.
3.) General market sentiment. This does not mean that we will not see an increase in price, but that the likely hood of regular trades going to crazy % returns is getting smaller, due to the fact that many traders are looking simply for profits rather than alt-season type gains.
Personally am long, if you follow and profit hit me up! Want to hear back from all the pipo hear on TV. If this trade goes south and you call it, comment here why you thought it would go down. I want to see the point of view from some other traders, and I would love to chat about some TA with anyone who wants to bounce some ideas back and forth. Goodluck all and happy trading!