Trade Alert - Take Profit

11 เม.ย. 2023

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