Discover more from Stewdamus' Chart Analysis & Trade Alerts
HUGE SHAKEOUT IN CRYPTO! ALL STOPS TRIGGERED!
Plus, my re-entry prices...
If ever there was suspicion that there was a war on crypto, this last shakeout is yet another event to add to the growing list of anomalies that have occurred in recent history causing this suspicion to arise in the minds of many. Yet, I remain as resolved as ever in my conviction that crypto will not be beaten. It is one of the first technologies ever that the government has failed to break. And they have almost a 1000% batting average at breaking any good technology in the last 100 years and slowing the progress of our human evolution. In fact, I am beginning to come under the belief that this is their singular purpose and is what they have been sent here to do by our alien overlords. But I digress.
I was stopped out of every last trade. To view all the data on these losses and re-entries, I would encourage you to click on the spreadsheet below.
In short, I have chosen to enter back into each trade that I was previously involved in. In most cases, I was able to get in at a better price. For now, the target will remain the same. The only thing I have dropped is my SL. If I am stopped out again, I will continue to re-enter at the lower price. In my opinion, the MMs were simply attempting one final shakeout before some unexpectedly big moves to come. We’ll soon see if I am right on this suspicion. Below you’ll observe my BTC chart. My bet is that we close back above our 200 day ma (indicated in red just under the red channel). I do not believe we will trend below all of this support. But I may be wrong and will re-assess if so.
Best to you all!