The altcoin market is cooling off, but is it really time to panic?
Since the late September top, altcoins have been in a correction phase. But one thing stands out: we’ve now seen 4 decent reactions from local bottoms, each time preventing a major liquidation-driven dump.
$BTC is looking much healthier overall. Price is moving sideways instead of printing lower lows. For now, Bitcoin isn’t showing any real weakness.
Take $DOGE , for example. It’s already retraced around two-thirds of its rally since August. After several weeks of altcoin pumps, a good chunk of the excess has been wiped out.
Personally, I’m not looking to take large directional risks right now. But I’m also not going to panic while BTC is holding up relatively well.
The market is correcting, and opportunities may be forming. Just don’t confuse patience with rushing into a trade.
#trading
Since the late September top, altcoins have been in a correction phase. But one thing stands out: we’ve now seen 4 decent reactions from local bottoms, each time preventing a major liquidation-driven dump.
$BTC is looking much healthier overall. Price is moving sideways instead of printing lower lows. For now, Bitcoin isn’t showing any real weakness.
Take $DOGE , for example. It’s already retraced around two-thirds of its rally since August. After several weeks of altcoin pumps, a good chunk of the excess has been wiped out.
Personally, I’m not looking to take large directional risks right now. But I’m also not going to panic while BTC is holding up relatively well.
The market is correcting, and opportunities may be forming. Just don’t confuse patience with rushing into a trade.
#trading