ASX Trader Advises on Maximizing Crypto Returns with Market Indicators

• Founder of trading education platform Mastering the Markets, David Bird (aka ASX Trader), has said investors should pay attention to market indicators such as Bitcoin dominance and disregard social media hype to be successful in trading cryptocurrencies.
• ASX Trader remains optimistic on crypto, but said this cycle is different, which increased the importance of market indicators and technical analysis to time investments.
• Bird will be joined by investment educator Craig Tapping to host an event on the Gold Coast on June 21 to teach investors how to maximise their returns in complex markets like crypto.

Theres no denying it, this crypto cycle has been different from previous cycles. 

So far weve seen Bitcoin perform reasonably strongly but altcoins havent yet had their usual rally despite many months of hearing that alt season is supposedly just around the corner. As yet, no significant alt season has materialised. 

According to David Bird (known online as ASX Trader), the founder of investing educational platform Mastering the Markets and Certified Financial Technician (CFTe,) altcoin dominance altcoins share of the total crypto market cap has been stuck in a downtrend. This reflects this cycles lack of capital flows from Bitcoin to altcoins, unlike what weve seen in previous cycles.

He argues that altcoin investors should compare their investments performance to Bitcoin, not to the US or Australian dollar. If any particular altcoin isnt significantly outperforming BTC, its likely not worth the additional risk compared to BTC and youd be better off sticking with the OG cryptocurrency, according to ASX Trader.

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If youre going to take on more risk by investing in altcoins, ensure they significantly outperform Bitcoin; otherwise, its smarter to just stick with BTC.

He said there were signs of a possible reversal of this trend what he calls a B wave, or zag zone back in early 2024, but that trend was ultimately rejected in March of 2024 and the downtrend in altcoin dominance has continued.

Were now at the 0.618 Fibonacci extension level, which is where prices often find a bottom, he said. 

If altcoins cant bounce here and reclaim the 9% dominance level (an important past support), the next target could be down at 5.5% which would mean another sharp drop for alts.

Related: Altcoin Banana Zone Fizzles as Bitcoin Dominance and High Yields Stifle Rally

ASX Trader said its important to understand the market and be strategic, saying dont be blinded by hype or believe the 4-year cycle is your golden ticket. The market is relentless, it will entice you with hope and turn it against you.

Related: Altseason Cancelled? CryptoQuant CEO Says Most Wont Make It

Based on the current Bitcoin and altcoin dominance figures combined with other indicators, ASX Trader says were finally in the zone Ive been waiting for, where altcoins could be bottoming out. 

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After nearly four years, Im finally seeing the potential for a major macro reversal in altcoins. Just remember to watch the BTC pair, not the USDT to find the true winners.

ASX Trader, along with investment educators Craig Tapping and Craig Dickson, will host a full-day event on the Gold Coast to teach investors how to best navigate complex markets, such as the altcoin market. The event promises to show trading strategies in action, with live trading demos and real-time market analysis with tickets starting at AU$249.