Crypto Trader Identifies a Change in the Altcoin Market Trend

A crypto trader and influencer with the identity Pentoshi has identified a new pattern in the price behavior of altcoins. Pentoshi observed that the altcoin market moves quickly, without having significant pullbacks, unlike a few months ago. Something different from the past few months.

In a tweet, he told his followers about some trading opportunities he missed by a narrow margin. He had concluded analyses, identified entries, and prepared his trades, only for the market to miss those entries and move higher.

There’s a few entries on alts I was looking for that were relatively close to market price and shared and missed both just to see them go apeshit with 0 fills.

Where as a few months ago that wouldn’t have happened and I’d have gotten filled within 24-48 hours. A lot of apes atm

— Pentoshi ? (@Pentosh1) January 27, 2023

According to Pentoshi, those same trades would have been filled a few months ago, even after 24 hours and sometimes 48 hours. With the missed opportunities, he wished he had entered at market prices rather than using preset orders.

Many traders use preset stop and limit orders in the cryptocurrency market. Preset orders are beneficial and an advantage in many ways for active traders. They help traders to avoid slippage and take advantage of trading opportunities even when they are not physically active.

Pentoshi’s experience has revealed one of the disadvantages of preset orders. They take away a trader’s impulse and ability to react quickly and spontaneously in the event of quick changes in the market.

Pentoshi described his recent experience as “absolutely painful.” According to him, he had a higher conviction for the particular trades that didn’t fill. He wished that he had acted earlier and entered at market price, even if that would have cost him more spread.

Market spreads can increase above original levels during high volatility. That is another reason many crypto traders adopt preset orders, especially during a bull run. Orders may be difficult to fill when prices move quickly, or they get filled farther than the trader’s preferred entry with increased spread.

The crypto market has been on a rally this year, and there are predictions that this could continue for much longer. However, traders are keeping the market close, knowing that things can change significantly over a short period.

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