The Wolf Den #119 - Weekend Trade Ideas And Education
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We have finished the first week of The Wolf Den going daily. The feedback has been 100% positive and I have really enjoyed the new format. This was a tough week for me, being in quarantine with the kids, so I look forward to having even more time moving forward to focus on improving the newsletter.Today's Wolf Den is chalk full of altcoin trade ideas, educational content and news. There's a lot going on, so hopefully this will give us some material heading into the weekend.Altcoins are showing signs of reversing off of their lows. While it's easy to get carried away in the FOMO, it is important to remember that we always see reactionary bounces on the way down. I am not saying that's what this is, but don't get caught in a bull trap. Keep your risk tightly managed and your wits about you if you are going to start trading altcoins again. The safest move right now it just being in Bitcoin. I cannot be more clear about that.Bitcoin can ruin all setups at once and at any moment. If it drops hard or blasts through 20K, altcoins are unlikely to do well. We really want to see Bitcoin consolidate and range a bit, giving altcoins a chance to breathe. For the moment that appears to be what is happening, although it is already starting to push again as I finish this newsletter.Altcoins have taken such a hit that you can practically throw a dart and find a coin that will go up if alts rise across the board. That is a very big if. I will share a few ideas, but everything I have posted the past few days is valid, and there are likely hundreds of similar setups on other coins.You should NOT EVEN CONSIDER TAKING ALL OF THE TRADES BELOW. Find a couple that work for you within your system and that you like and watch those. Set alarms on the lines to indicate they are becoming valid. If you are in too many trades, it's impossible to manage portfolio risk. You might want to ignore them altogether and wait for Bitcoin to settle down.If they continue to look good, I will buy BTC pairs spot and long the USD pairs with leverage on Phemex. They are offering my subscribers a $120 bonus for signing up and depositing, so check that out if you are interested.https://phemex.com/a/ScottMelkerWhat’s In This Issue?BitcoinAltcoin ChartsThe Disposition EffectHow Should I Decide What to Invest In?Attitude Is EverythingOccam's Razor 101IRS Taking Their Sweet TimeSEC Chairman Speaks Highly of BitcoinBloomberg Intelligence Strategist calls for $170,000 BitcoinFirst-Ever Company Sponsored Bitcoin Retirement PlanUnemployment Claims On The Rise In The USAMy Recommended Platforms And Tools
The Wolf Den #119 - Weekend Trade Ideas And Education
The Wolf Den #119 - Weekend Trade Ideas And…
The Wolf Den #119 - Weekend Trade Ideas And Education
We have finished the first week of The Wolf Den going daily. The feedback has been 100% positive and I have really enjoyed the new format. This was a tough week for me, being in quarantine with the kids, so I look forward to having even more time moving forward to focus on improving the newsletter.Today's Wolf Den is chalk full of altcoin trade ideas, educational content and news. There's a lot going on, so hopefully this will give us some material heading into the weekend.Altcoins are showing signs of reversing off of their lows. While it's easy to get carried away in the FOMO, it is important to remember that we always see reactionary bounces on the way down. I am not saying that's what this is, but don't get caught in a bull trap. Keep your risk tightly managed and your wits about you if you are going to start trading altcoins again. The safest move right now it just being in Bitcoin. I cannot be more clear about that.Bitcoin can ruin all setups at once and at any moment. If it drops hard or blasts through 20K, altcoins are unlikely to do well. We really want to see Bitcoin consolidate and range a bit, giving altcoins a chance to breathe. For the moment that appears to be what is happening, although it is already starting to push again as I finish this newsletter.Altcoins have taken such a hit that you can practically throw a dart and find a coin that will go up if alts rise across the board. That is a very big if. I will share a few ideas, but everything I have posted the past few days is valid, and there are likely hundreds of similar setups on other coins.You should NOT EVEN CONSIDER TAKING ALL OF THE TRADES BELOW. Find a couple that work for you within your system and that you like and watch those. Set alarms on the lines to indicate they are becoming valid. If you are in too many trades, it's impossible to manage portfolio risk. You might want to ignore them altogether and wait for Bitcoin to settle down.If they continue to look good, I will buy BTC pairs spot and long the USD pairs with leverage on Phemex. They are offering my subscribers a $120 bonus for signing up and depositing, so check that out if you are interested.https://phemex.com/a/ScottMelkerWhat’s In This Issue?BitcoinAltcoin ChartsThe Disposition EffectHow Should I Decide What to Invest In?Attitude Is EverythingOccam's Razor 101IRS Taking Their Sweet TimeSEC Chairman Speaks Highly of BitcoinBloomberg Intelligence Strategist calls for $170,000 BitcoinFirst-Ever Company Sponsored Bitcoin Retirement PlanUnemployment Claims On The Rise In The USAMy Recommended Platforms And Tools