FAQs Frequently Asked Questions
Crypto Report
For BTC, do you use the 10DMA (or 20?) for selling?
Q: For BTC, do you use the 10DMA (or 20?) for selling? BTC is more volatile so 10 might get you out too soon.
Also, for buying BTC, you look at key levels, volume and attempted rallies. To identify a rally, in stocks you used the 1.5% rule (increased volume + 1.5% increase). BTC is again more volatile, do you have a more appropriate number?
A: With crypto, I dont use most indicators I would use in stocks. I instead watch BTC and ETH very closely. One often leads the other. As where ETH goes, so go the altcoins. I am always scouring for liquid altcoins which are showing strength either by resisting a downtrend when BTC or ETH are weak or outperforming both BTC and ETH during uptrends. To find potentially outperforming coins, you can do a regular search on www.coingecko.com by arranging the coins in order of performance over the last 24 hours and 7 days. I do this for the top 200 coins, but generally buy in the top 50.
Also, for buying BTC, you look at key levels, volume and attempted rallies. To identify a rally, in stocks you used the 1.5% rule (increased volume + 1.5% increase). BTC is again more volatile, do you have a more appropriate number?
A: With crypto, I dont use most indicators I would use in stocks. I instead watch BTC and ETH very closely. One often leads the other. As where ETH goes, so go the altcoins. I am always scouring for liquid altcoins which are showing strength either by resisting a downtrend when BTC or ETH are weak or outperforming both BTC and ETH during uptrends. To find potentially outperforming coins, you can do a regular search on www.coingecko.com by arranging the coins in order of performance over the last 24 hours and 7 days. I do this for the top 200 coins, but generally buy in the top 50.
First published: | 27 Dec 2021 |
Last updated: | 27 Dec 2021 |