There it is! The Altcoin Inverse Pump Effect
What Pumps Up, Must Pump Down!
When BTC hits new All Time Highs, it’s hard to know when the wave is going to crest and over the breakers, then fall back to a new stable price floor.
But…. when it starts to happen, signs start to show when the altcoins that have been riding BTC’s glorious coat-tails upward, get pumped even harder downward by BTC’s downward fluctuations.
Looks like this may have begun.
Doge started facing massive resistance a few weeks ago as Bitcoin hit $100,000.
I stopped my bot when doge was around $0.46, and haven’t started another on Doge.
Bitcoin has increased all the way to $108,000 in the last week, while doge struggled to push above $0.41, only for BTC to fall back to $97,000, a loss of roughly 10–11% in the last few days. At the same time, Doge has fallen from $0.41 back to $0.31, a loss of almost 30% of it’s value from the previous high only a little over a week ago.
If Bitcoin continues to fall, Doge will likely get pushed all the way back to $0.20–0.25, which would be as I predicted in my previous Dogebot story.
This is all great news!
…..Why?
Because it means I can ride out Christmas and New Years, enjoy the gains taken this year, be patient and wait for the new price floor to be discovered, then buy-in again and reboot all of my martingale bots!
I recently sold off my BTC holdings when we hit $100k, and I’m waiting for a new price floor.
How I Intend to Become a Crypto Millionaire! —3 flips down, 3 to go!
BTC price crossed $100k a few days ago, and now I wait for the next dip!
I’m still holding a few random altcoins, but for the most part, I’m idling my engine, waiting to rev it up again when BTC price hits $70,000 USD or less.
If we actually do maintain $100,000 or close to it through New Year, I will consider rebooting my bots and buying back in.
Right now, I am not seeing very much pressure to sell on the heatmap, which is kind of surprising to me.
If BTC price reaches $103,000 there will some moderate sell pressure — but the map is showing a decent amount of bright yellow liquidation potential around $105,500–106,000.
That yellow line = the heat.
If BTC rises back to $105,500, and doge only rises back to $0.35–0.38, then BTC falls back to $97,000 again, doge will likely be pushed all the way down to something like $0.28.
See how the downward “inverse” altcoin pump works?
This is why I am extra cautious when running bots on ANYTHING other than coins I am familiar with (BTC, ETH, LTC).
I made a nice little capture happen on Doge this time around and I know how to attempt the same again, but the time is here to sit back and chill a minute before doing it. I simply “saw a path, and took it”. As I say in my disclaimer.
Disclaimer : This is not financial advice and I am not a financial advisor. This is just what I am doing with my own money. I am NOT an expert. I am some dude on the internet who sees a path sometimes, and takes it.
As for running a Dogebot now, it’s just not the right time.
I am going to go spend time enjoying the holidays and visiting Leavenworth and Mt Rainier this year, to enjoy a winter wonderland.
Wishing you and yours a happy holiday season, whatever tradition you celebrate!
Happy Holidays to All!
Thank you for reading!
Until next time….
Onward and Upward Everybody!
-Chris
A.I. Lifestyle
Lifestyle Income and Automation Solutions. "There is always a solution for everything!" ⭐ Become a Member of this…www.youtube.com
#tradingbots #doge #patience #pump #altcoins #waiting #trading #heatmap