Monitor all crypto trading positions today, as a priority, in order to determine whether I should add additional capital or exit any of my long trades
1. SOL
Add capital to SOL long trade on the basis that the price action has reached the bottom of its parallel channel.
If the price action breakdowns, then there is likely to be a retrace to my entry level at some point before it continues its decline.
So continue to monitor all of your crypto positions, every 4 hours, as a priority.
2. BTC
3. SOXX
As shown above, the SOXX gapped down today.
Even though the price action is trying to recover the fall on the 5 minute timeframe, the odds favour the price action continuing to decline further throughout the trading day.
This is likely to result in BTC declining also, or moving sideways.
If BTC moves sideways, this usually results in the Altcoins declining hard.
Let’s see how everything plays out.
4. BTC.D
Continue to closely monitor BTC.D every 4 hours today.
5. US10Y – analysed.
6. TLT
TLT long entry limit order triggered today.
7. QQQ – analysed.
8. SPY – analysed.
9. RUT – analysed.
10. UVXY – analysed.
Next Action
- Closely monitor BTC.D every 4 hours.
- Closely monitor BTC every 4 hours.
- Closely monitor SOXX every 4 hours.
- Watch Sheldon’s latest crypto video today.
