Parabolic rise of $BLOK Makes Profit-Taking a "Wandering Act"
BLOK is at an ATH, and cryptocurrency itself, too, is at an ATH. These are very GREEN TIMES.This is great for those of us already invested in BLOK. This trader has profit snatched once, only to load back up and add more options (Friday expiry).
What the only problem is, is this: WHERE DO YOU TAKE PROFIT when a chart is exhibiting parabolic action? This cannot even be based on any previous relative-highs.
Watching micromovements for a long consolidation could provide a turning point that shakes out some weaker handed investors before it rises big again...We see that all the time.
A tentative guess is that this upside is so far in the future any short-term profit snatches need only make sense on a touch-and-go basis. If the ultimate upside of
BLOK is even 100-plus per share, that does not mean this trader would hold it for the entire ride to that lofty mark. That said, it's just as tough to figure out how to play this, even now. Best of luck, but the GAINS OF BLOK - are not luck. This is timing executed.
-BDR
Note
Also note it has shifted to 42.60 in postmarket movement. It could open over 43.Note
WOW, talk about two gaps being filled in an hour: WE'RE WAY DOWN, DEEP IN RED. SAVE OUR SHIP, SOS.Note
When should profit have been taken? -- FRIDAY. Dang.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.