STOP TRADING ALTS đâŠfor Now
A lot is happening after the Fed meeting, and Iâll break that down in my next post. But for now, I have to be here the voice of reason, and hereâs the most important thing I can tell you: STOP TRADING ALTS. Donât listen to all the fake crypto gurus telling you to buy this coin or that coin right now. We donât know where the bottom of this drop is yet, and thereâs no clear signal to guide us.
Hereâs a quick summary of whatâs going on:
âą Yesterday, the Fed cut rates by 0.25 bps, and Powellâs speech sent the markets into more volatilityânothing new there.
âą Crypto and stocks have been pumping hard for the past few months, so this retracement was overdue.
âą The dollar is strengthening, and naturally, thatâs putting downward pressure on BTC.
So, What Should You Do?
âą Spot Bags: Keep them as they are. If youâve got strong positions, just hold. Iâd advise further DCA if youâre in a bullish trend, but donât jump the gun yet. Wait for a clear signal before making any major moves.
âą Futures: Be very careful in this volatile market. Personally, Iâve only longed LINK, which is still not in profit, and Iâm staying out until I see a clear opportunity. Iâll move with a small risk until the market gives me something more predictable.
âą BTC.D: This is where my concern lies. BTC dominance is nowhere near resistance. One spike to 60% and alts could drop another 20-30%. A massacre, basically.
The market is volatile, and sometimes doing very little is the best move. Iâm staying cautious for now and keeping my eyes on the marketâs next move.
If you want to make sure youâre navigating these waves without getting caught off guard, check out my copy trading account. Iâm managing risk while others chase every shiny altcoinâbecause, letâs be honest, sometimes doing nothing is the best move. Click here to copy and đ°đ
Stay smart, stay patient, and letâs ride this out together.