I've been carefully studying the charts on the top ten cryptos for the last six months and I think that XLM and ADA look the most promising. They both recently had a big breakout moment, and they might be launching to Coinbase soon which would greatly increase their daily trade volume. I expect massive returns from both those coins in the next big bull run. But personally I think that Bitcoin and the rest of the crypto market is not done correcting yet. I fully agree with you there. I have taken long positions already, but I've kept over half my funds free for building more long positions in the future. When I look at the 1 week chart on Bitcoin, I get the clearest picture. The last big correction Bitcoin had lasted over a year and a half, and it was followed by a 2 year bull run which charted historic gains. We have only been in this correction for about 7 months, so I'd argue that we could see another year of the downside potentially. I am hoping it will end sooner than that, but in the end I don't think it much matters for traders, because there will continue to be big rallies along the way down. This correction does look different than the last big correction of 2014, because the volume is a lot greater now than it was back then. We have nice jagged peaks now. You just gotta ride the waves!
RE: Reviewing Some of My Positions. Will Update as Needed.
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Reviewing Some of My Positions. Will Update as Needed.
Yes I like this commentary! Always on the look out for an trade where price is completely extended form the 30 or 50 period moving average. Much rather trade to the long side as I do not like shorting cryptos at all.
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