For some trades, we focus on the short-term. Lately, when the charts are young we are using them for the short-term signals. Rather than ignoring them completely, these tend to be hot and attract a lot of interest from market participants. We should also play.
BIOUSDT produced a bottom pattern here, notice the cup and handle. Enough to open a trade. Something like this: Buy and wait for the market to move in your direction (up). Set up your sell order on target before the target hits, normally after buying. When the target hits, the project in question will have disappeared from your portfolio, but you will see new funds in USDT (or BTC if you are trading a Bitcoin pair).
In short, buy and hold, the market takes care of the rest.
There are two targets on the chart, which one you choose is up to you. You can also choose both or none. By none I mean you keep holding long-term. While this is a short-term chart/trade setup, this does not cancel out the fact that we are entering the 2025 bull market cycle and phase. Which means that there is room for massive growth. By both I mean selling a portion at each target. Whatever you do is up you. I give you great entry prices and great timing. Also the analysis to remove any doubts when it is time to wait.
If prices drop you have two options:
1) Who cares? This option means that you keep on waiting until the market turns. The wait can last 1 day, 3 days just as it can last 1 week or 6 weeks or months. It depends on the broader market cycle.
2) After prices drop a certain pre-defined number, you close the trade; sell at a loss.
These are two options. Some people will buy and hold, others will decide to trade.
If you go with #2, you are trading.
If you go with #1, you are investing.
Thank you for reading.
Namaste.
