RED MARKET ACTION
As you’re undoubtedly aware, the entire market has taken a hit today, to the tune of about $50 billion
Yesterday we saw $BTC bounce from around $13.3k to $14.5k before hitting resistance. That’s when the selling began. As we’ve stated numerous times before, BTC volatility in either direction never bodes well for the market at large.
Bears are out in full force. For us, this is a “no trade zone”.
Without a really negative catalyst we don’t run to panic sell. We’re confident in our long positions ($NEO being one that carried us today) and stoplosses did their job on shorter term trades.
If you have capital available, “buying the dip” can be very advantageous on days like this. We typically like to set buy orders on the way down at previous support levels in hopes of catching a bounce.
Try not to make decisions without clear thought; panic selling is almost never without regret in our experience.
The smart money is buying the blood 👌
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. Cryptosumer does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.