A seasoned crypto trader, known as The Flow Horse, is warning against calling the top of the current bull market. He believes that the market is still in a strong upward trend, with Bitcoin, Gold futures, and the Nasdaq all showing bullish signals.
Don’t Call the Top
The Flow Horse advises traders to avoid trying to predict the end of the bull run. He emphasizes that the current market momentum is too strong to bet against, and those who try to time the market are likely to miss out on potential gains.
“If you’re late to the party and struggling to get in, just buy and walk away,” he says. “One strong weekly close above the current level, and that’s it. You’re an idiot if you’re calling tops right now.”
Bitcoin Dominance and Altcoin Opportunities
The trader also acknowledges that Bitcoin’s dominance could increase during a rally, potentially drawing liquidity away from altcoins. However, he believes that some altcoins will still be able to perform well.
Ethena (ENA) and MEW
The Flow Horse highlights two specific altcoins:
- Ethena (ENA): He sees potential for bullish entries in ENA, noting that the coin is in a good position for a move upwards.
- MEW (Cat in a Dogs World): This memecoin has seen a strong run this month, with gains of over 50%. The Flow Horse is watching its price action closely, but cautions that it may be too early to jump in.
Bitcoin Still a Top Choice
Despite the potential for altcoin gains, The Flow Horse remains heavily invested in Bitcoin. He believes that Bitcoin’s strong fundamentals and potential for further growth make it a solid investment, especially considering the current market conditions.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always conduct thorough research and consult with a financial advisor before making any investment decisions.
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