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Backing Away From Crypto – Watching And Waiting For Now

Published 08/24/2021, 03:54 PM
Updated 07/09/2023, 06:31 AM

Things were going too 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.

Ethereum Chart.

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.

ALGO:

ALGO Chart.

ATOM:

ATOM Chart.

ENJ:

ENJ Chart.

 

Latest comments

che ne pensate di EOS ?
This guys draws lines in the sand, he is completely clueless. What a shaky way to bet you money
Sell this garbage millennium Bros.  Take it from an old white guy you're going to lose all your money eventually. It's already been dumped on twice . get out now
You cashed in a few weeks too early imo
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