RATE Group | Long BTC and Profitable on Many Altcoin Positions
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Long BTC and Profitable on Many Altcoin Positions

14 Dec Long BTC and Profitable on Many Altcoin Positions

Posted at 18:20h in Bitcoin News by

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Trading altcoins continues to be one of the most profitable strategies in the crypto market. The highlight of this week was the MATIC (MATIC) pump and subsequent dump, which I was lucky enough to time perfectly, securing a 60% profit near the all-time high. I closed a number of positions in profit, and am still trading EtherParty (FUEL), (IOST), Elrond (ERD), Chainlink (LINK), Zilliqa (ZIL), Verge (XVG) and FunFair (FUN).

I failed to take profits on some of these coins at the first resistance and target, only to see them retrace to my entry and this presents an important lesson about being too greedy. Each setup looked good, but the MATIC movement spooked the market and caused a ripple effect that saw temporary price depreciation across the board. Lesson learned.

BTC/USD update

Bitcoin (BTC) has been chopping sideways with errant wicks both up and down throughout the past week, likely liquidating high leverage traders on both sides. I am presently long Bitcoin from $7,100 after…

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