We have a situation here where the market bottom has been confirmed.
Notice that MANTAUSDT is trading above its 11-March low but below its 3-Feb. low. The pairs that are trading above the 3-Feb. low are stronger from a TA perspective and from a trading perspective and likely a fundamental perspective as well, compared to those trading below.
They are stronger first because the recovery is strong and second because the crash was smaller. In both cases, the rise and the drop, the market showed more support and action on these. This is something to keep in mind when choosing your pairs.
Stronger pairs tend to produce better results.
When retraces and corrections happen, they tend to happen all across. So those stronger will continue to outperform and you better choose those when choosing you Altcoins, with some exceptions of course.
There are thousands of Altcoins and it is hard to choose.
For me, I chose on 7-April when the bottom hit, so all are green, but the world (and trading) doesn't end there. The truth is that bottom prices are great but available only for the short-term.
You can use moving averages as well to know which pairs are better than another and which ones are more likely to move next. The ones trading above the longer EMAs are the ones that are stronger.
Just a few tips and tricks to improve your chances of success.
Thank you for reading.
Namaste.
