Looking to Buy Back Into Altcoins
The market is definitely at a point where profits are being taken from altcoins that had
significant runs. This is a time to look to buy back in on some good looking fib levels.
Ethereum is currently performing very well, and Bitcoin is very likely to follow suit.
This will further drive down the prices of such altcoins vs. BTC.
We are still within a bull market, so we should be looking for entries that have good
risk to reward ratios.
On AVAX, I believe that the 0.786 of this Fib retracement is a good point. It
coincides with a historically significant price level, and we can expect some type of
bounce from that level. The 0.618 is also a point where we are likely to see a bounce.
Putting in a buy order at the 0.786 is safer, but you can also trade off of the 0.618
and take some profits out of that position immediately if there is a bounce to the 0.50.
significant runs. This is a time to look to buy back in on some good looking fib levels.
Ethereum is currently performing very well, and Bitcoin is very likely to follow suit.
This will further drive down the prices of such altcoins vs. BTC.
We are still within a bull market, so we should be looking for entries that have good
risk to reward ratios.
On AVAX, I believe that the 0.786 of this Fib retracement is a good point. It
coincides with a historically significant price level, and we can expect some type of
bounce from that level. The 0.618 is also a point where we are likely to see a bounce.
Putting in a buy order at the 0.786 is safer, but you can also trade off of the 0.618
and take some profits out of that position immediately if there is a bounce to the 0.50.
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