$LDO
Strong to BTC, but let me use it as a nice example as how to properly use a diagonal trend line to trade most effectively
Using diagonals alone is quite sketchy.
1. The pair needs to be relatively strong to BTC
2. It needs to be trading around a POI
3. Diagonal trend shift + structure.
4. Beating a key level that was previous support. In this case it is the previous week low marked on the chart
If BTC cant reverse upward from it's shift in flow to the downside, it means nothing, but if BTC simultaneously switches it can move
This means if you long alts right now, you are playing the chart but the larger asset that is in control can ultimately negate your trade. So that is something to always be aware of.
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