Swinging dilemma
Probably unrelated to the above, crypto markets appear to be experiencing a bit of a pullback today. It's times like these that are especially nerve-racking for swing traders.
For long-term hodlers, today's action means less than nothing. For really short-term traders, the volatility is nice, even if the volumes aren't in full swing. For swing traders, who generally take profits after a few days or weeks, and who have been riding this trend since the local market bottom, it's extremely tempting to close out positions at these levels.
However, if the market continues up from here, you'll be kicking yourself for missing out.
At this point, the pullback seems no more than normal consolidation, and no major support levels appear to be broken.
So for what it's worth, as long as we maintain these levels and don't drop too much, we should be in the clear.
It would be particularly nice to see bitcoin's 200-day moving average act as a level of support. We'll see how it plays out, though.
Hoping the recent timing of the BMJ Newsletter hasn't been too much of an issue. I've never really realized it before, but California is positioned very poorly on the time zone map.
I now understand my brother's reasoning for waking up every day at 4:00 AM just to be part of the markets when things are actually happening.
Wishing you all a very pleasant evening, except those of you down under, who should have a great day ahead!!
