Just spent time scanning through the charts looking for a top 50 coin to buy on a trade. Struggled to find anything that was giving me a buy single – UGH.
Indecision and selling pressure
Bitcoin has pushed higher of late and the alts have not followed at all. However, I’m not buying bitcoin after it ripped 2,000 points the past week.
I do like the consolidation it is doing now, as if it actually wants to leg up again. I’ll believe it when I see it and for now will just hold my long-term bag. I buy coin on pullbacks for the most part.
LTC and ETH – nothing says buy at the moment
As you can see litecoin looks rather indecisive after retreating from that head and shoulders topping pattern. I like that it is atleast hanging on here in the middle of the range as that is less bearish, but price action certainly isn’t bullish.
Ethereum looks like it just failed at the 230 level again so not a time to get long. Ideally we see some unexpected buying and it pushes through that level, but that is just a gamble.
And I could continue on. EOS doesn’t look much different nor many other coins. There is some strength here and there, such as BNB past couple days, but that trade entry is long gone.
I’m sitting on my long-term bag with my active trading capital idle on the sidelines for now.
Stay patience my friends!