As the market seems to rebound, you wonder if it would not be worth buying some coins, and you mainly consider the main ones - e.g., BTC and ETH.
Is it the right time to buy?
We will consider only some Crypto blue chips to start. A good way to know if it is the right time to buy is to check if they are overbought or oversold:
All of the 6 coins above are close to the overbought territory. So it does not seem to be the right time to buy. It could be worth waiting a bit.
What to do if my coins are in the oversold territory?
You can just wait or accumulate, i.e., buy more coins by using DCA (Dollar Cost Averaging) if you think that it is only temporary (please be cautious...).
What to do if my coins are in the overbought territory?
You can HODL (Hold Them For Dear Life), sell them for fiat currencies or stablecoins, or swap them for less volatile coins.
How to find the least volatile coins?
There are some good tools to track the volatility (see the link below). Among the blue chips above, we can see that BTC is the least volatile one:
So, between BTC and ETH, which one should I buy now?
We are currently close to the overbought territory, which means that the most volatile cryptos will likely dump (at least a bit...) in the next few hours or days. Therefore, if you want to optimize, you may swap a portion of your ETH for stablecoins (if you already made profits) or for BTC (if you want to continue to be exposed to cryptos).
Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.
Please find below a few links to earn a few coins...
