If you're still chasing this $MOVR pump without a plan, stop now.
Too many traders jump in after a double and get caught holding bags when it reverses. The FOMO hits hard and timely exits become impossible.
Yesterday I expected $MOVR to rise a bit more then fall. Instead it nearly doubled from yesterday's levels. Moves like this look strong, especially when $KSM is holding up well.
The bulls will say this is the start of a bigger run connected to $DOT ecosystem developments. I disagree. It looks overextended and a better spot to gradually build a short position using average cost rather than going all in.
Volatile alts demand that kind of disciplined approach or you get wrecked on the reversal.
Where do you stand on $MOVR after this move?
#Moonriver #Altcoins #Trading
Too many traders jump in after a double and get caught holding bags when it reverses. The FOMO hits hard and timely exits become impossible.
Yesterday I expected $MOVR to rise a bit more then fall. Instead it nearly doubled from yesterday's levels. Moves like this look strong, especially when $KSM is holding up well.
The bulls will say this is the start of a bigger run connected to $DOT ecosystem developments. I disagree. It looks overextended and a better spot to gradually build a short position using average cost rather than going all in.
Volatile alts demand that kind of disciplined approach or you get wrecked on the reversal.
Where do you stand on $MOVR after this move?
#Moonriver #Altcoins #Trading
