Do not try to buy the dip!!! But the strength!!!
Although the current chart set up is pretty ominous, I am still bullish on ai16z.
The new US president just came into the office and also his memes sucked all the liquidity out of the rest of the crypto market. The market is very volatile and it is hard to do technical analysis at the moment.
The one thing I can say is that it is not the time to be hopeful and keep buying every dip to add to your position. I haven’t sold any of my ai16z because I don’t trade with leverage. And my allocation for this asset is small. However,
once Trump meme mania settles and the liquidity starts to flow back to the rest of the crypto market, I will start to look for an opportunity to buy more, but buy at the strength!!
My main style of trading is buy at the strength using momentum indicators - mainly MACD/Stochastic. I will wait until Daily stochastic resets and start to roll back up towards 50 and 4H MACD lines properly crosses and enter the bull zone (above 0). If that happens, I might consider buying more.
The new US president just came into the office and also his memes sucked all the liquidity out of the rest of the crypto market. The market is very volatile and it is hard to do technical analysis at the moment.
The one thing I can say is that it is not the time to be hopeful and keep buying every dip to add to your position. I haven’t sold any of my ai16z because I don’t trade with leverage. And my allocation for this asset is small. However,
once Trump meme mania settles and the liquidity starts to flow back to the rest of the crypto market, I will start to look for an opportunity to buy more, but buy at the strength!!
My main style of trading is buy at the strength using momentum indicators - mainly MACD/Stochastic. I will wait until Daily stochastic resets and start to roll back up towards 50 and 4H MACD lines properly crosses and enter the bull zone (above 0). If that happens, I might consider buying more.
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