Basically there are certain key levels that are not visible on SOL chart but are on BTC. Since crypto usually follow BTC can I trade on SOL based on BTC analysis since profit seems to be higher on SOL due to volatility?
Can I trade SOL based on BTC?
byu/Other_Helicopter_704 inCryptoMarkets
Posted by Other_Helicopter_704
1 Comment
That idea makes sense and a lot of traders do use BTC as a guide for the overall direction.
But correlations in crypto are not always stable. Sometimes an alt like SOL moves with BTC, and sometimes it completely decouples and does its own thing.
You’ll often see moments where BTC is sideways or even dropping while a specific alt starts running because of its own momentum. TRX is actually a good example of that sometimes — it doesn’t always move the same way as BTC.