Expecting a sideways market for sometime ? Nobody knows.
"There seems to be a lot of selling pressure" "looks like the rally is over" "owh no double top" 😅
This is what I've seen a few people say, but historically if you've seen something Tuesdsays haven't picturculary been to great for the bulls in this cycle.
If your concerns are that the leveraged longs are like at 100% return and you don't want to loose the gains, then bust thing to do is to book it.
I had recently hooked profits on my $INJ $GLMR and $ROSE positions because I was up 100% and wanted to renter at a better price with better risk management as I had gone with low leverage.
Look, nothing in the market moves vertically up. Everything needs a break to rest up to go crazy parabolic again. It's a natural part of the process. People get tired of buying and rest and then buy again when the have more money.
Patience, Price action and Risk management keep them close and its okay to take profits, if you have a target try to stick to that. To me a 100% on a trade is decent.
My view is that if we consolidate and take a break that would be fine, I would want to see it consolidate near the upper range and then see an upmove in the upcoming days. If you are in levered longs I think its worth the risk to hold for the breakout or re-enter in a tiny 5% correction which I will be doing.
cheers!
