Traders,
While the market waits for Ethereum to launch like a rocket and pull us into altcoin season, which I’d obviously love to see, I am also preparing for the possibility of another ‘sell the news’ event. And though, I don’t think selling the news here will amount to a big pullback, a pullback definitely can be a possibility if not a probability.
Look at the Ethereum chart above. I have been attempting to keep you all aware of what Ethereum price action might look like should there be either a ‘sell the news’ event or some other negative news item regarding Ethereum (or crypto in general). In my estimation, a small pullback or consolidation/accumulation period here might make sense. It actually becomes bullish as it forms the right shoulder of that inverse head & shoulders pattern that may play out.
Thus, in preparation for a pullback, I have raised my stops on a few of my long entries. Raising my stops will either prevent me from taking a loss or, in some tokens, it will reduce the amount of the loss I will take. I thought this might be a good time to review our trades and strategy.
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