Trade Alert - Take Profit
Traders,
Are you beginning to sense that I am unsure of what will happen in the next week or so in the altcoin space? This is true. While I am fairly certain that Bitcoin will pullback at some point in the future to either retest our
25,200 level or, just above that, the 50 day ma - I am less certain as to how altcoin will react to BTC if it does pullback. In the past, during bear markets, altcoins have always exaggerated any move to the downside during a bear market. We are still in a bear market and with tomorrow's Shanghai upgrade on the Eth network which unlocks millions, I am just not sure how alts will respond. For me it's better to capture any profits I have while I have them and to wait until I see proper setup forming again for re-entry.
You can see APE is up into resistance here at the 50 day. I sold.
I have also sold Audio and Matic for now and am in cash at the moment.
Stew
Are you beginning to sense that I am unsure of what will happen in the next week or so in the altcoin space? This is true. While I am fairly certain that Bitcoin will pullback at some point in the future to either retest our
25,200 level or, just above that, the 50 day ma - I am less certain as to how altcoin will react to BTC if it does pullback. In the past, during bear markets, altcoins have always exaggerated any move to the downside during a bear market. We are still in a bear market and with tomorrow's Shanghai upgrade on the Eth network which unlocks millions, I am just not sure how alts will respond. For me it's better to capture any profits I have while I have them and to wait until I see proper setup forming again for re-entry.You can see APE is up into resistance here at the 50 day. I sold.
I have also sold Audio and Matic for now and am in cash at the moment.
Stew
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.