Sheldon has shared which altcoins are best positioned for trades and explode first with the strongest trading indicator signalling for a massive altcoins surge.
Bitcoin dominance is in a downtrend and its current level of support is collapsing. This means there is a relatively larger inflow of new capital into altcoins than into BTC. Or it represents a transfer of capital between BTC and altcoins, with participants taking their profits from BTC and injecting them into the altcoin market.
Sheldon says Bitcoin is doing good, making higher lows and higher highs on smaller time frames. Bitcoin downtrend lasted 13 days and has gone sideways for 13 days now which sets up the construction to be bullish. $38,000-39,000 the region to look out for in the coming days, bullish confirmation if it breaks through the resistance and short bearish if it gets rejected (7:55).
Ethereum is a good buy too, current level of support around $2,250 and is expected to make higher highs and lows (14:43).
Sheldon altcoin picks for BTC dominance plunge includes DOT, ADA, BNB, LINK, SOL, KSM, UNI, VET, MATIC, THETA, TFUEL and DOGE. All altcoin picks are short term trades with 30-40% price targets.
This episode premiered on June 2nd, 2021.