$BTC
76,7xx- (85,3xx-85,4xx)-94,0xx
(76,7xx+85,3xx)/2=81,0xx
76,7xx-81,0xx-85,3xx
Above 81,0xx looks good
The market rose quite strongly thanks to money flowing back in during Q3, and strong NFP data had everyone going all in.
But after NFP came in weak, interest rates rose, and the USD strengthened sharply, the conditions for stopping position expansion were met ==> conditions for taking profit were met.
There’s no catalyst for further gains, and conditions favor taking profit. ==> Take profit
Not sure how strong or mild the drop will be, but without a catalyst, it could easily enter a neutral swing phase in the medium term.
If you want to hold, look for strong top performers to keep. You can earn along the way, and they’ll recover faster when BTC dominance drops, in the case of altcoins.
Still following the October plan: if BTC’s average price is good enough, take profit; whatever happens, we’ll break even or make a profit.
76,7xx- (85,3xx-85,4xx)-94,0xx
(76,7xx+85,3xx)/2=81,0xx
76,7xx-81,0xx-85,3xx
Above 81,0xx looks good
The market rose quite strongly thanks to money flowing back in during Q3, and strong NFP data had everyone going all in.
But after NFP came in weak, interest rates rose, and the USD strengthened sharply, the conditions for stopping position expansion were met ==> conditions for taking profit were met.
There’s no catalyst for further gains, and conditions favor taking profit. ==> Take profit
Not sure how strong or mild the drop will be, but without a catalyst, it could easily enter a neutral swing phase in the medium term.
If you want to hold, look for strong top performers to keep. You can earn along the way, and they’ll recover faster when BTC dominance drops, in the case of altcoins.
Still following the October plan: if BTC’s average price is good enough, take profit; whatever happens, we’ll break even or make a profit.