Good morning! As I am writing this, the market is looking for direction and could go either way in the short term. At times like this, I prefer to have most of my money on the sidelines, preparing to react rather than trying to guess what is going to happen. Trading alts and Bitcoin has been tremendously profitable for a long stretch now. I consider the weekend retrace healthy, and there are still clearly some opportunities to trade alts. That said, the market is a bit riskier at this exact moment, so as always, it is essential that you understand that things could drop quickly and plan for that in your trades. As I often say, "plan your losses." I see nothing wrong with still making alt trades with tight risk management. I have taken quite a bit of profit over the past week, so am back more heavily in Bitcoin (and dollars) and am waiting for a moment I feel comfortable to deploy it.This brings up an important lesson - just because the market is open does not mean that you have to actively be trading it! This is especially true in crypto, which trades 24/7 and never gives us a chance to breathe unless we actively force ourselves to step away. Attempting to "be in the market" 24/7 will lead to tremendous fatigue and forcing bad trades. Today is a good time to step back a bit and wait for a clear path.Side note - I am not seeing anything of particular interest today in legacy markets, so I have left those trades out. Everything has been somewhat consistently sideways for days - I remain in all of the trades that I have discussed before.CHART REQUESTS FOR THURSDAY - IMPORTANT NOTE. I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. Please mark it in your calendar and email me by responding to this email! One request per person. Please do not ask for more. Please be specific - BTC or USD pair for crypto charts. What's in this issue?Bitcoin Charts And AnalysisFear Vs. Greed, A Short StoryEthereumDeFi For BeginnersAltcoin TradesRegulation Is Coming. Be Prepared.Bittrex Moved 500M Dollars in Bitcoin - For 1 DollarThe DOGE CycleInterview With UToday
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The Wolf Den #22 - Fear Vs. Greed, BTC, ETH…
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Good morning! As I am writing this, the market is looking for direction and could go either way in the short term. At times like this, I prefer to have most of my money on the sidelines, preparing to react rather than trying to guess what is going to happen. Trading alts and Bitcoin has been tremendously profitable for a long stretch now. I consider the weekend retrace healthy, and there are still clearly some opportunities to trade alts. That said, the market is a bit riskier at this exact moment, so as always, it is essential that you understand that things could drop quickly and plan for that in your trades. As I often say, "plan your losses." I see nothing wrong with still making alt trades with tight risk management. I have taken quite a bit of profit over the past week, so am back more heavily in Bitcoin (and dollars) and am waiting for a moment I feel comfortable to deploy it.This brings up an important lesson - just because the market is open does not mean that you have to actively be trading it! This is especially true in crypto, which trades 24/7 and never gives us a chance to breathe unless we actively force ourselves to step away. Attempting to "be in the market" 24/7 will lead to tremendous fatigue and forcing bad trades. Today is a good time to step back a bit and wait for a clear path.Side note - I am not seeing anything of particular interest today in legacy markets, so I have left those trades out. Everything has been somewhat consistently sideways for days - I remain in all of the trades that I have discussed before.CHART REQUESTS FOR THURSDAY - IMPORTANT NOTE. I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. Please mark it in your calendar and email me by responding to this email! One request per person. Please do not ask for more. Please be specific - BTC or USD pair for crypto charts. What's in this issue?Bitcoin Charts And AnalysisFear Vs. Greed, A Short StoryEthereumDeFi For BeginnersAltcoin TradesRegulation Is Coming. Be Prepared.Bittrex Moved 500M Dollars in Bitcoin - For 1 DollarThe DOGE CycleInterview With UToday