We studied the crypto market early today and saw price hitting a wall of resistance on most key cryptos, and, as probabilities indicate, when you hit a lot of resistance, price pulls back, and that?s what happened, just like it has over and over for the last year or more.
BUT ? pullbacks after a sharp rise can be a bullish set up and offer a safe trade opportunity.
We?ve shared LTC, BNB and DASH trades that have been big movers, and there are still higher targets for all 3 of those cryptos (Especially DASH when you look at longer term charts), so in this post we?re adding some coins that subs have requested. We have more in the pipeline and if we see the bullish path being followed ? we might finally have some reasons to post trades multiple times per day like we did during 2017.
But let?s be clear ? this is only a SET UP ? that?s far from a convincing breakout ? which is exactly what we need to see a new bullish trend. We are also watching closely to see if some coins are left behind if we move higher ? as we shared in recent posts we think the chances of crypto winners and losers has never been higher.
A bullish set up doesn?t mean price is going higher, it means there is a good return to risk set up that offers a trading edge ? so don?t play if you?re not prepared to lose. On the other hand, it?s okay to be skeptical and wait for a clear bullish breakout to find your entry for new positions.
If the current bear market has delivered one message?it?s to TRADE SAFELY if you want to stay in the game. So get your trade strategy ready and do just that.
