Richard Fetyko, CEO of altFINS:

“Crypto markets are pulling back, not surprisingly.

I gave our VIP members a warning two days ago in our VIP telegram group: ETH: Very Overbought RSI levels (>86!)

I also warned about overbought levels in yesterday’s video (watch here), which includes an indepth ETH analysis.

In summary, ETH was very overbought (RSI > 86!!).

Also, notice in charts below that many alts reached overbought levels (RSI > 70) right as price reached a critical resistance area where horizontal resistance lines up with 200-day Moving Average (200 SMA).”

We call that ‘Stiff Resistance’

Prices usually pause their advance in these areas, pull back before resuming their advance again.

Source: altFINS Trade Setups 

There are several others in our Technical Analysis section that are labeled ‘Overbought at Resistance’ or ‘Approaching Resistance’.

When these signals appear, I trim or completely close out my positions and wait for another buying opportunity.

Traders can stay on top of such BUY or SELL signals: set up alerts and use the altFINS mobile app to stay on top of trading opportunities. (here’s how)

Technical Analysis (50+ trade setups)

Overbought at Resistance or Approaching Resistance

Go To TA Section Now

So what’s next? How far will the markets correct?

Ideally, prices cool off and pull back to their nearest support levels and bounce up from there.

Market is clearly in an Uptrend, with alt season in full swing.

So I’ll use this opportunity to load up on alts that could still 2x or more by end of the year.

Join altFINS community of traders!

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