- From Coinmarketcap (CMC), the extreme level of greed matches with the Coinpicker.us proprietary indicators showing extreme overbought levels.
- The Coinpicker.us indicators are more precise and predictive for trends and changes with much more warning time than the CMC Fear and Greed chart.
- The high probability for profit trade method is: 1. Confirm the Coinpicker.us indicator (CPHPT) for BTC and/or ETH is not in the extreme overbought zone. 2. Ideally the CPHPT would be in the middle or below. 3. Then choose a crypto (use the Coinpicker.us list in the premium section for the highest potential trades or choose your own) that has the 50 dma crossing over the 200 dma.
- Hold the crypto until there is an overbought signal from CPHPT.
- The strong likelihood is that you will have a massive profit from this trade.
- BTC and most other cryptos are extremely overbought.
- Go short, buy long dated puts, sell calls, close out long positions for stablecoins.
- The proprietary Coinpicker.us indicator on the bottom of these graphs called the recent top and recent bottoms precisely. Click here for a lesson on how to read this indicator.
- ETH is not as overbought as BTC, though still overbought and high risk at these levels.
- ETH is somewhat of a proxy for all altcoins. It rose higher on a percentage basis and it has fallen less on a percentage basis. This suggests, as I have recommended, that ETH and its competitors are a better buy for quick profits than BTC.