Top 10 Coins

Bitcoin
% 1h
0.49
% 24h
1.80
% 7d
2.57
USD
68,927
EUR
63,614
GBP
54,126
     
Ethereum
% 1h
0.48
% 24h
0.48
% 7d
0.63
USD
3,788.6
EUR
3,496.6
GBP
2,975.1

XRP
% 1h
0.26
% 24h
0.43
% 7d
0.83
USD
0.5242
EUR
0.4838
GBP
0.4116
     
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Excitement to End of a Rally- I’ve EXITED all swing trades & taken PROFITS – BEAR DIVERGENCE on SmartMoney Algo

Excitement to End of a Rally- I’ve EXITED all swing trades & taken PROFITS – BEAR DIVERGENCE on SmartMoney Algo


Bitcoin Live

A premium post from May 30th from our Analyst Mark Dukas.

Yesterday the BTC price came within $3.11 of my target on Bitstamp. $9,100 was met with an intense dump that I believe will continue until some stabilization. The SmartMoney algo yesterday afternoon confirmed BEARISH DIVERGENCE on the 480 min chart. This also happened when the price moved from $6k-20k. This time we moved from $3k-9k.

This isn’t going to be a one or two-day event. We now have to watch price action unfold and see where price action leads us. This market has gone up almost 200% and altcoins going up 15%-35% respectively during the month of May tells me now to TAKE PROFITS, be prudent and protect my capital.

With so many variables in place, I like to have CASH/TETHER available to re-deploy and not be left watching the price go back to my entries or giving back all the profit I worked towards.

You could see a bull trap, a continuation before the dump, FOMO, etc.

With not knowing how this will fully play out but I recognize and remember that I too have held a lot of positions far too long in my trading career. I couldn’t imagine making these mistakes over and over again.

Most people won’t want to see it with their eyes, their accounts, etc. But we rose almost 200%+ off the bottom to where the dump came in at that $9100 level.

Did you think this was going to be easy? I’m protecting capital and going to re-evaluate as my options open up again.

-Mark