Buying altcoin right now is dangerous

Altcoins looked hyped up right now but buying it is very risky at this present moment. This is the time when most crypto traders loose money. FOMO is created right now, all altcoins are surging a lot, specially the one's with defi. But it looks nothing more than just preparation for another crash, may not be a big one but there should be correction within few days or week. You can buy your alts at much cheaper price than buying today or tomorrow.

Here are few points backing me

• Bitcoin dominance at strong support region and forming bullish divergence
  This is the king of all charts if you are an altcoin traders, if this chart looks bullish, it is best to not buy any altcoin.

• Bullishness in social media
  Everyone being super hyped up is the recipe of a dump. Every crypto account of twitter and youtuber is super hyped up. People are buying into projects to not be missed, not because they understand.

• Multiple altcoins with bearish divergence and strong resistance
  Taking a look at most gainer coins, RLC, LINK, ALGO, WRX, every coin is either in a strong resistance or forming a strong bearish divergence. Link is parabolic which often leads to a parabolic correction. Summary is this altcoins need a break, at least few percentage dips to continue further.

• Bitcoin preparing for a big move

What we know from crypto market is that, when bitcoin moves, altcoin's dump and right now altcoin are already bearish with multiple indicators.

This doesn't mean I don't like altcoin or don't believe altcoins can give significant gains. I just don't think it is good time to invest into alts.

Do Your Own Research before any move, don't trust a random post on steemit.