Time To Build Positions? 2-3 Trades to Consider
As patterns predicted, the crypto market has recovered (for the most part) from the recent spike down. Once again BNB has led the way so far, and is holding recent gains and is heading towards key resistance at $15 that could be an important breakout. See prior posts for trade strategies we’ve shared since the $6-7 range.
While it may not be the ideal time to enter a BNB trade as most cryptos including BNB have tended to retrace after good size moves, we are seeing set ups in other large cryptos that are worth considering, and for the first time in months offer patterns that justify considering building positions that could lead to much higher prices over time.
We again caution subs that we’re in a nasty bear market until we’re not, and that fact needs to be considered in all trade strategies, but the LTC chart has a bullish IT edge and TRX is showing a potentially meaningful bottom, so as long as you can understand those set ups are not GUARANTEED and you can lose money, IT trading here could make sense.
Two final notes: 1) We feel obligated to say "Don’t forget BTC”. The chart may not be as bullish as BNB or LTC, but BTC is THE KING.
2) What about ETH or high flying smaller altcoins? See if their chart is better than LTC’s as a guide, but without much volume being traded right now, trading larger more proven coins is the higher prob trade - especially intermediate term.
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