Bitcoin 70000? Where to next? Trading momentum on altcoins!
2024-11-04

In this video, we’ll break down where Bitcoin’s price might go after five days of decline and what strategy can help you benefit from the current situation. We'll discuss key levels to watch, the role of indicators, and how to properly configure and use the Hermes Pro AI tool. You’ll learn how this indicator supports custom setups for popular moving averages and which settings work best for crypto trading.

Here's what we’ll cover:

- **How to Trade Ethereum:** We’ll go over critical levels on the ETH chart, discussing why 2,503 could be an entry point and how the VRVP volume indicator highlights a gap that may propel Ethereum’s price to 2,671.

- **What to Do with Solana:** Currently in an uptrend, we’ll analyze levels like 167.56 and 176.56, where sharp price moves may occur due to volume gaps on the chart.

**Setting Up the Hermes Pro Indicator**

We’ll show you how to configure the Hermes Pro AI indicator, focusing on the four moving averages that are popular with Wall Street traders: the 50, 100, 150, and 200-day averages. These settings are widely used by professionals for analyzing daily charts, helping traders pinpoint entry and exit points for long-term moves.

With our step-by-step guide, you can configure the indicator to set colors and values for the moving averages. You’ll also see how this tool visualizes horizontal levels, making trading clearer and safer. Using such tools not only helps make more informed forecasts but also provides greater confidence in trading decisions.

**Level-Based Trading Strategies**

- We’ll discuss a trading strategy for the 69,685 level on Bitcoin. We’ll show you how to enter a long position with high leverage and a tight stop-loss, as well as when to take partial profit and move the stop to breakeven. Using these strategies can help minimize losses and maximize gains in high-volatility conditions.

- Why are short positions questionable right now, and when should they be avoided? With concrete examples, we’ll explain how to monitor the signal bot and identify familiar setups on other altcoin levels to effectively enter long positions.

**Altcoin Trading: Doge, MASK, and SUI**

We’ll review some popular altcoins with trading volumes over $100 million and discuss promising trading ideas.

- **Doge:** We’ll target a false breakout at 14,988 for a long position and explain why a strong upward move is likely here.

- **MASK:** We’ll look at potential long entries following a strong downward impulse. A volume gap on the chart could indicate a possible bounce to 2.806. We’ll examine why a “dead cat bounce” might provide a good entry at 2.45.

- **SUI:** This asset is currently overbought, trading above its 50-day moving average. We’ll explore how the volume gap below 1.7634 could be a great shorting opportunity if Bitcoin continues to decline.

**Horizontal Levels in the Hermes Indicator: Simple and Clear**

The Hermes tool helps ensure safe trading by allowing beginners and experienced traders alike to set up the indicator to analyze charts and horizontal levels. This free indicator is available for connection, with a link in the profile description. By incorporating it into your strategy, you’ll gain clearer insights into chart patterns and make more informed trading decisions on support and resistance levels.

**Conclusion**

This video is suitable for beginner traders who want to build simple strategies and set up indicators, as well as for those who want a deeper look into the crypto market, including breakout, false breakout, and trendline strategies.

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