STOP TRADING ALTS 🛑…for Now
A lot is happening after the Fed meeting, and I’ll break that down in my next post. But for now, I have to be here the voice of reason, and here’s the most important thing I can tell you: STOP TRADING ALTS. Don’t listen to all the fake crypto gurus telling you to buy this coin or that coin right now. We don’t know where the bottom of this drop is yet, and there’s no clear signal to guide us.
Here’s a quick summary of what’s going on:
• Yesterday, the Fed cut rates by 0.25 bps, and Powell’s speech sent the markets into more volatility—nothing new there.
• Crypto and stocks have been pumping hard for the past few months, so this retracement was overdue.
• The dollar is strengthening, and naturally, that’s putting downward pressure on BTC.
So, What Should You Do?
• Spot Bags: Keep them as they are. If you’ve got strong positions, just hold. I’d advise further DCA if you’re in a bullish trend, but don’t jump the gun yet. Wait for a clear signal before making any major moves.
• Futures: Be very careful in this volatile market. Personally, I’ve only longed LINK, which is still not in profit, and I’m staying out until I see a clear opportunity. I’ll move with a small risk until the market gives me something more predictable.
• BTC.D: This is where my concern lies. BTC dominance is nowhere near resistance. One spike to 60% and alts could drop another 20-30%. A massacre, basically.
The market is volatile, and sometimes doing very little is the best move. I’m staying cautious for now and keeping my eyes on the market’s next move.
If you want to make sure you’re navigating these waves without getting caught off guard, check out my copy trading account. I’m managing risk while others chase every shiny altcoin—because, let’s be honest, sometimes doing nothing is the best move. Click here to copy and 💰🚀
Stay smart, stay patient, and let’s ride this out together.
