current situation i feel about trading

in #busy6 years ago (edited)

Alts are clearly waiting for a decision from BTC while consolidating, don't expect them going the opposite direction if BTC besides to die out here. I am a bit surprised that 6500-6600 is still holding despite so many tests, waiting for the breakout of that current range .
Meanwhile it's better to limit trading using stop loss.
Market reaction to the current small relief in BTC action looks pretty good with strong volume on those deep wicks that in many cases penetrated important supports. On paper it's a fine setup but I do not believe that the current bounce will be long-lasting, therefore, I am staying on the sidelines

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