Is there growth potential and what to do now? Starting from October 18, BTC has been growing steadily and to this day has already increased by +50%! Around October 22, I started putting long ideas on many altcoins, so we didn’t miss this growth. I also published a lot of ideas from alts, which are also already +50+100%. All ideas with a growth potential of 100% can be found using the tag #searchks.
What to do now and is it worth taking profits? 🤨
If you have a short-term trading horizon, then taking profits makes sense. On this channel, I form positions in an investment format, so I continue to hold the acquired positions and only symbolically take profits in order to build up my cache in case of further drawdown.
🛠 According to technical analysis, there is a divergence on the daily time frame.
On the weekly time frame, the RSI is at 80 and is already overbought. But on the monthly frame there is a neutral zone of 60 and there is potential for further growth.
⚖️ Fear and Greed Index 75 - greed, but not extreme yet.
During bullish periods, many technical indicators may be ignored by the market, since demand is extremely high at the moment and this prevents many traders from entering into a trade, which only increases the FOMO effect.
⚠️ In order not to get confused, I recommend having several portfolios at once: short-term, medium-term, long-term. A mistake many beginners make is that positions with different horizons are opened on the same account. As a result, the trading strategy is a complete mess, which does not lead to good results.
🔰Result:
Technically, now is not the best entry point into a long position, so we have reached the upper limit of the ascending channel and it would be more logical to wait for BTC below.
In case of sharp failures, I plan to buy back BTC and alts. There is currently “bullish momentum” in the market and there is no talk of a reversal yet, so we simply enjoy the profit in the portfolio and can lock in a plus of ~10-15% of the previously gained position.
📈 Until the end of 2023, I expect the rally in the crypto market to continue; everything may change dramatically on January 1, 2024, but more on that later.
In this blog, I share my personal experience and how I control risks in client accounts. I talk about how not to fall into the trap of emotions and how to create a long-term strategy for increasing capital on this channel.
There are a bunch of promising ideas ahead, subscribe 🚀
