Volatility Stopped Us Out But I am Back In. Here's Why?
Traders,
I really hate stopouts sometimes. They just cause extra work. But they are a nice safety precaution. And since I am public-facing, I am attempting to demonstrate the best trading practices. Implementing stops is one of these such practices. And if I had stops on my LUNA trade a few years ago, I wouldn’t have lost it all.
Needless to say, stops pulled me out of XRP, AVAX, MINA, and STORJ. But I immediately re-entered all of them.
Despite this liquidation dump, I am still bullish Bitcoin. And when the dust settles today, I think we’ll see BTC back above our 64.8k support. And if not, then I do expect us to settle at least above my multi-year support/resistance line from 2019. Currently, that sits at around 61k. I am completely comfortable there. This dump was healthy and necessary, even if it is aggravating.
All targets on my altcoin trades remain the same. View the tracker below for further info:
Appreciate the update and the reassurance, also good to know that the targets are still in play. Thanks Stew.