Here's why you should be buying up alts.

Here's why you should be buying up alts.

By MadMaxx | Psycho Crypto | 4 Apr 2020


Here's the thing: I don't like engaging in financial advice, because, you know, I'm not certified.

But whenever something works for me, I can't help but share it with others. Although that usually causes the source to dry up, I mostly feel good because I was able to offer assistance to people.

So here's why you should be buying up alts at the time.

If you were watching the charts, or if you read my last night's post, you'd have seen that Bitcoin and his closely correlated brethren all had some 11-12% moves in price. Bitcoin broke to 7.2k, and then quickly corrected and has started ranging as the volume slowly clears out.

I noticed this because the set-ups for the alts I trade formed way too quickly.

I mostly trade double tops and bottoms on some popular alt coins that have at least 800BTC in trading volume. These alts basically do the same thing every week, and I get to profit from these moves pretty easily.

But their setups usually take 2-3 days to form after a recent high.

Well, they made a high the day before yesterday, and then proceeded to form their setup yesterday. So I knew that volume had poured out of them and into the big coins.

The thing is: Whenever bitcoin starts going up, alts start going down. This happens because most people trading alts take their money out of them to make quick profits on the move of major coins.

And that was more or less why bitcoin rallied that high. Because of FOMO.

So that's why you should be buying up alts.

Their prices are stupid low right now, because the volume has left them.

For context, one of the coins I trade usually has a volume between 11000-12000 ETH. But now it's at 230ETH. A ton of volume left it, and when that volume returns, the coin will jump by a lot. It's only math.

So if you've been eyeing any alts recently, now might be a great time to buy them.

"Ok. So which alts do I buy, Max?" you ask.

I can't say for sure. But if I were to give a checklist, the coin should have the following characteristics:

  • The coin must have at least 300BTC or 1000ETH in volume. This is to ensure that big money doesn't need you up hard.
  • The coin must range with occasional breakouts. Because ranges are easy money baby!
  • The coin must have a market cap of at least 400 million. Again, to prevent the big money from playing with you feelings. You can check market caps with Coingecko, since CMC is now centralised.
  • The coin must be significantly below it's ranging price.

Once the coin has passed all these criteria, you can totally stock up on it, and wait for the volume to return. It's really easy money.

Thanks for reading guys. As always, if you wish to use these tips, DYOR and backrest.

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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