@amanrazz Do you think the BTC rise is going to slow down the breakout for Komoda and other alts? If yes, please help me understand how?
Is it a good idea to take the money out from Komoda and put it in BTC at this stage? If yes, what should be the cutoff for the selling komodo?
Sorry for asking these stupid questions as I am new to the trading world.
amanrazz
⋅
@XVGTRON, Yes , Bitcoin rise definitely affect the altcoins price negatively because as you may know most alts are traded with BTC and when it start rising then people who are holding there alts start exchanging it BTC as a result a lack buying Order is created in the alt which drops its price. Same happened with Komoda it was forming a good upward channel and was indicating a upward breakout but now that the buying order are lost it broke the lower line(as in image) and had a downward breakout instead. If BTC was stable then komoda should have got new buyers who will had pushed it higher.
Yes as quick as possible as bearish breakout had happened and a lower high is formed
Is it a good idea to take the money out from Komoda and put it in BTC at this stage? If yes, what should be the cutoff for the selling komodo?
Sorry for asking these stupid questions as I am new to the trading world.