Pivotal moment for Crypto alts. I think BTC dominance is topping out soon. One of the beneficiaries of that will be the stronger altcoin projects such as CHAINLINK. It presents a good risk to reward trade once we can break out of the RSI and triangle pattern.
We are down over 50% since the highs this year. Alts remain highly risky in the short term so I’d rather be patient and wait for a confirmed breakout and keep a tight stop loss for risk management.
Not financial advice, just something I’m keeping an eye on before a potential long trade.
Trade active
Went long last night as soon as BTC reclaimed 61.5k. Stop loss already moved to break even. Let's go!
Trade closed manually
This was a 10x leverage trade, i'm up 400% already and I have taken some profits today. I've moved my stop loss up for the remainder of the position.
Note
Entire position closed. Congratulations on anyone who traded this with me
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