Patience and Opportunity for the Strongest Altcoins
Top Altcoins (9 charts) - 15/8/2024
Altcoins are currently facing a rough patch, and there aren’t many opportunities available at the moment, aside from one new trade. However, the trades from the last capitulation event are still holding strong. In this post, I've also highlighted the key levels to watch for Bitcoin and Ethereum.
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My criteria for selection:
- Price History: Altcoins must have a price history of over one year.
- Liquidity: Altcoins must be listed on major exchanges like Binance and Coinbase for good liquidity.
What to Expect:
- Buy Levels: I'll share charts of the strongest altcoins, including detailed trade setups for each.
- Risk Management:
I set a stop loss to ensure I lose no more than 1% of my portfolio.
I take profit when my target is reached.
I maintain a maximum of 5 open trades at any given time.
- Dynamic List: Altcoins showing weakness will be replaced by stronger ones.
- Mindset: These trades can span multiple weeks. Given their high probability winrate, it's important to let them fully develop.
Top Altcoins (9 charts)
Daily chart levels to watch:
(* means it's a stronger altcoin)
$SOL $127 area support
Stop loss at 98.29
Take profit at 188.93
Risk / Reward ratio: 2.16
