An experienced trader believes it’s unwise for traders to call a peak in the bull crypto market.
The Flow Horse, a pseudonymous trader tells His Telegram channel, which is based on charts including Bitcoin (BTCThere is a bullish market in Gold Futures and Nasdaq. It could cost you a lot of money to wager against it.
“I told you this in 2020 and I’ll say it to you again, if your break-up is late or you have difficulty entering the market, then just purchase and walk away.
You only need to close the weekly level strong. The effectiveness of high timeframe acceptance is hard to argue…
It is not my place to predict how long a party will last, but I think you’re an idiot for predicting the tops now. Someone will be sure to shout it out when the plan finally works.
According to The Flow Horse, the crypto-market is now at a stage where Bitcoin will steal the liquidity from other altcoins if there’s a strong rally. However, some altcoins are expected to make a good recovery.
The trader points out that Ethena is one of the altcoins.ENAIt may be a good time to enter bullishly.
“Worthwhile update:
Add ENA to this.”
The Flow Horse has also said that he is looking at a cat world in a dog’s world.MEW(), a coin that has risen by about 51% in the last month.
Take a look at the MEW.
“The consolidation looks very much like the previous highs.”
“Says the trader”
“The Mew chop above prior highs seems less certain right now in the short term. You don’t want to see price chilling for a long time at his level, and if ENA can’t hold prior days lows I will bail on current additions. I am overweight Bitcoin by a large margin (compared to alts), and I think this positioning makes sense given alt open interest and how they are likely to behave if Bitcoin were to continue to push up toward the highs.”
MEW was trading at $0.0086 as of the time this article is written, down more than 4% for the day.
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