After wave 3 peaked late December 2023, a classic retrace followed... Notice that the retrace low was hit early January and while Bitcoin moves ahead, OPBTC consolidates.
Are you ready for another one? I am hoping you are having a wonderful day.
The Altcoins vs Bitcoin pairs tend to correct when Bitcoin moves up, this dynamic is no longer valid; What changed?
The truth is that it doesn't matter what changed. The fact that the ALTSBTC pairs are bullish is great news.
When we buy these pairs, we can profit 2X. ➖ One from Bitcoin's growth. ➖ Another from the pair itself.
✔️ Say you bought 1 BTC at 20,000 and Bitcoin goes up to 50,000. That's awesome, you have 1 BTC now worth 50,000 but still just one BTC.
✔️ Say you bought 1 BTC at 20,000 and use it to buy ALTSBTC and these grow 300%. That's amazing, now you have 4 BTC worth 200,000 and that's the beauty of the ALTSBTC pairs.
But these can be tricky though, make sure to do your own research.
Here Optimism (OPBTC) is trading daily above EMA50 with a strong RSI. The fact that Bitcoin is strong and this pair doesn't fold is great news, because we can expect a bullish wave to develop regardless of what Bitcoin does.
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