Trading Strategy - BTC/USDT Shorting Pumps and Reentering Lower

While I am still new to trading this market I realized really quickly that hoddling tokens no matter what they were, is a losing strategy in these conditions. Initially after diversifying into many projects I thought would be worthy of long-term commitment, I decided that with the bearish sentiment the best thing to do was to sell all my positions on rallies and to enter into USDT.

And because of the volatility of BTC I am only trading USDT pairs. I do believe that exchanges will recognize the need to disloge alt coins from dependence on BTC someime soon and when this happens, it will cause further downward pressure on BTC but be generally positive for the other coins. I'm currently watching the range bounce from 9100-7800. And while I am unsure of how long this trend will last, it has been successful seemingly for the past month or so. I do believe that there will be at some point, come a time when the market will sustainably rally but until the sentiment changes I don't see this occurring. For the time being we are in a bearish trend and one must recognize this.

I do believe it important to learn how to trade all situations and that this downtrend is a lesson to us all that there are different strategies for different circumstances and that one must apply the experience gained from weathering the storm in times such as these to learn how to Approach bearish markets. And while we can still hope For rally in the other direction we must still be real with what is going on. Be blessed!

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