With markets taking a break from the US and China going off on each other for 5 days straight, investors are bracing for a potentially turbulent week ahead.
Cryptocurrencies seem to have recovered a large chunk of their losses from the first week of April, but how long can we expect this upward reversal to last?
Well, if we're being realistic, not long. If you take a look at the price charts of most cryptocurrencies, you'll notice a common theme: we're in a mid- to long-term downtrend.
If you've been trading cryptocurrencies (or any other type of security) for a while, you're probably familiar with the saying that goes “The trend is your friend”. With that in mind, if you're looking to hold any short-term crypto trades, shorts might offer better, less-risky opportunities.
Now's not the time to panic and FOMO into the market. Big players are still looking to shake weak hands out of the market. My advice: Observe market fluctuations through the first days of the week before committing your money to any trade.
Cryptocurrencies seem to have recovered a large chunk of their losses from the first week of April, but how long can we expect this upward reversal to last?
Well, if we're being realistic, not long. If you take a look at the price charts of most cryptocurrencies, you'll notice a common theme: we're in a mid- to long-term downtrend.
If you've been trading cryptocurrencies (or any other type of security) for a while, you're probably familiar with the saying that goes “The trend is your friend”. With that in mind, if you're looking to hold any short-term crypto trades, shorts might offer better, less-risky opportunities.
Now's not the time to panic and FOMO into the market. Big players are still looking to shake weak hands out of the market. My advice: Observe market fluctuations through the first days of the week before committing your money to any trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.