Yesterday Bittensor (TAOUSDT) hit a daily high. The highest price since early January. The highest price in five months.
This is a strong signal and reveals the overall conditions of the market.
There was a shakeout but not all pairs/projects are the same. Those pairs trading really high, BTCUSDT is a great example, move to produce a retrace or correction.
Those pairs coming out of strong market bottom in early April, continue with their newly developed uptrend and the shakeout is nothing more than short-term noise. The market will continue to grow long-term.
Each chart/pair/project needs to be considered individually.
Manual stop-loss should be preferred.
Some pairs went on to test their 7-April low. With a limit stop-loss order, this shakeout would produce a loss. With our system of a manual stop-loss, the next day prices are back to baseline. This is what the manual stop-loss system is for, to avoid becoming a victim of a stop-loss hunt event.
Here we have TAOUSDT moving higher and higher, slowly. The market moves in waves.
It is a rising trend; higher highs and higher lows. But, invariably, there will be retraces and corrections along the way. Prices can still drop lower before additional growth, anything goes. The market can fluctuate wildly but the end result will be a new all-time high when we reach the bull run phase.
It takes time. The whole cycle needs 6-8 months to fully develop. This is only the start. For TAOUSDT, this start produced a total of 200% growth in less than two months. This is really good, but there will be more. Buy and hold.
Namaste.