🚨Is Bitcoin risky?
Our correlation heatmap (tracking the closeness of altcoins to Bitcoin) has issued a clear warning:
Altcoins have not followed Bitcoin's recent upward trend. 😬
🔍What does this mean?
– If BTC is only supported by a few large participants, a short-term drop may occur.
Or Bitcoin may leave altcoins behind, rising on its own as its dominance increases.
⚠️Caution is needed.
If you are trading near historical highs, the risk is higher. Even if breakthroughs continue, the risk/reward may not be ideal.
🧘♂️Waiting for oversold signals on key indicators is often the best strategy for long-term thinkers.
👁Stay vigilant. Sometimes, the best approach is to stand aside.
Chart: @Alphractal
