Bitcoin is very volatile as we know it buy it's volatility is not the good nowadays because of its current price. If you're a trader of altcoins, you don't really want the king BTC to go down, because when it goes down the altcoins goes down with it and you will really lose some trades. I have my own strategy in this kind of market that I'm always telling to my Telegram channel subscribers, and I came up with this strategy a month ago with a keen observation of the market behavior:
- stick with the TOP GAINERS because top gainers always keep GAINING, just stick with 3 to 4 coins that's in the top gainers then trade it with a help of technical analysis to a find good entry and exit.
second strategy that I came up with the help of the observation and little research:
*buy some DGD (DigixDAO) when the BTC is at its resistance, because if you're noticing DGD is being pumped most of the time when BTC is falling or dipping and sometimes or maybe most of the time their price movements are inversely proportional, I personally think that this is a good strategy when the market is being prowled by bears, because if you bought some alts then the BTC goes down and your alts goes down with the King at least you have some DGD that is most likely to be pumped and you may go for the break even or a minor loss or maybe a profitable DGD trade if it goes really high, but if things don't work out as planned, be a disciplined trader and cut your losses or be an investor and hold your assets.
**But why DGD? DGD has a small circulating supply only at 2 Million, its price can be pumped easily you just need a good volume of buyers at one time, that is why I think the bulls picked it and they're pumping it so that they can't lose too much BTC despite of the bear market.
But if your'e a buyer and holder of bitcoin and not a day trader, the current market status is a good buy for you and a time for shopping.
Great Blog @jetgab I agree. If you are day-trading alts still with the big gainers, they repeat the same cycle almost every week. I'm in it for the long term game (HODL) haha but do enjoy day-trading Bitcoin from time to time. Keep up the good work. Upvoted! Check out analysis if you have a chance: https://steemit.com/cryptocurrency/@kidmartin-95/bitcoin-btc-usd-intra-day-morning-analysis
thanks a lot! great analysis also, I somehow agree. also check my intro and if you're interested in joining my channel for some observation you're very welcome :)
https://steemit.com/introduceyourself/@jetgab/introduction-to-myself-i-am-a-new-steemitan
My Telegram channel:
https://t.me/joinchat/AAAAAEofhQz0VdmZiaXmrg
follow me and I'll follow you back :)