Don't bother buying the falling knife for now.
Wait for:
if you must or have to buy alts right now, remember to take profits on every bounce (10~40%).
Example of a bounce trade in a down market:
Wait for:
- Weekly double bottom
- Above daily 200/50 moving average or a cross
- Price breaking out of prolonged sideways range
- or railway track price action i.e ||||||_||||||_||||||||||||||||||||||
if you must or have to buy alts right now, remember to take profits on every bounce (10~40%).
Example of a bounce trade in a down market:
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Update: Game plan for the next year.