Backed Off

By -

Things were going to great with crypto, I was seriously considering ditching all other trading instruments and focusing strictly on crypto. I’m not quite there yet. In fact, I’ve taken profits for now on about half my positions and am 50% in cash on my account. I’m watching and waiting, because the market has gone from steadfastly higher day after day (see Ethereum, below) to stalled. I want to see what happens next without staying aggressive. No diamond hands here.

Below are three good examples of crypto charts which, on the one hand, are beautiful bullish setups, but on the other hand, might have a little more easing back to do before having an appealing risk/reward ratio once more. Watch those horizontals.

Incidentally, I am aware that on mobile (Android/iPhone) the comments aren’t coming up. We’re going to get that fixed.