MNQ - Clear Downtrend
Updated
It appears that we are hitting the top of the channel, hence I am taking a defensive position in my crypto trades and looking to see if this gets rejected this week. I will be looking for sell opportunities in MNQ micro contracts this week.
Seems like everyone wants to call a bottom in crypto, but that's another story. If this market rolls over I can't imagine that the crypto markets will decouple all of a sudden and diverge up. 2022 is the year to play defense and build up a cash position, and start to slowly rotate to whatever it is that crowd hates, which for me is growth tech stocks and Ethereum.
Seems like everyone wants to call a bottom in crypto, but that's another story. If this market rolls over I can't imagine that the crypto markets will decouple all of a sudden and diverge up. 2022 is the year to play defense and build up a cash position, and start to slowly rotate to whatever it is that crowd hates, which for me is growth tech stocks and Ethereum.
Note
Not financial advice you suckaNote
Turned into a FED induced midterm rally! This was a surprise, but I am starting to think this may last a bit longer.
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