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How to analyze an alt coin for short term profits?
Here are some point if we consider them while analyzing alt coins we get more accuracy and profits ratio in spot not future.
1. Do technical analysis of your selected coin. If it is giving bullish sign then do below step.
2. Check BTC dominance is it giving bullish sign , side way or bearish , if it give bearish sign then well and good 👍. If it give side way direction then it is normal if it give bullish sign then avoid to trade.
3. Now check altcoins market cap ( excluding BTC , ETH, USDT). If it give bullish or side way momentum indication then trade otherwise skip it.
4. Now analyze BTC if you get bullish sign then take trade if bearish sign then avoid.
These are the four steps if you follow them you can gain more profits and decrease losses.
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