Any retraces to the 50DMA (Also the 25 SMA) should be bid

28 de out. de 2023

On the few coins that have recently outperformed Bitcoin, any retraces to the 50DMA (also the 25 SMA) should be bid with aggression until and unless those moving averages are lost. If we see momentum start to fade and the moving averages start to flatten out and we get retests that have weak bounces, then the position can be trimmed or exited. Until then look to take profit at monthly and weekly horizontal resistance zones, personally am trimming by 5% at each monthly level we have above us. The trend in Crypto has started to shift bullish after the recent god candle that sent us sailing through the prior yearly high at 31.8k. Coins such as INJ, TRB, and FET, to name a few, had already been outperforming BTC in Recent weeks. So it makes sense to focus on these and to buy up retraces to key moving averages such as the 7 and 25 SMA and the 100 and 200 DMA. Until we start to see those flatten and we see multiple retests without good bounces then I am going to trade the trend and remain long. Looking to take profit and key resistance. Keep it simple. Trade the trend and use weekly and monthly levels as support and resistance along with the key moving averages and high volume areas. Lets crush this bull market and make some serious cash in 2024. Now is the time to really pay attention and pick your bets. Dont waste time on shitty alts that have continually underperformed BTC. There is nothing worse than picking a bunch of high beta plays, being ultimately right on the Bitcoin move, but failing to outperform when you could have just bought BTC. In many ways its pretty risky to be in anything besides BTC when we have an ETF coming. Few coins like LINK and SOL will most likely do really well this Bull but the rest of crypto is way to much risk and there is no real use case. Bitcoin NOT Crypto is the mantra I adhere to. Crypto is a dumpster fire. BITCOIN is the REVOLUTION and you dont want to miss it! So choose your high beta plays wisely and pay close attention to how anything performs against their bitcoin pair. Remember, altseasons are short lived and the window to pick random alts and actually get good returns is small. Choose wisely and dont get to caught up and trying to hit those 1000 and 100X plays because the risk is so high its usually not worth it and the probability of it working out is low. Im too dumb for that. Ill stick with a big bag of good ol' Bitcorn and dabble in a few quality alts that have great looking charts on the BTC pair. Godspeed friends. Lets CRUSH this next few years