TCT Fake Breakdown, Manual Stop-Loss To The RescueTCTBTC (TokenClub Token) just printed a fake breakdown and we are safe thanks to our manual stop-loss.
The entire cryptocurrency market had a strong drop, a correction, that is starting to settle and everything is going back to normal.
We call it a "fake breakdown" because prices went below support just to quickly move back above it... So this is only a market move to remove weak hands. It is also called a stop-loss hunt.
We use the "manual stop-loss" on the weekly timeframe, meaning that we only close our trades when prices close below our stop-loss/support on the weekly timeframe.
Here, TCTBTC dropped as far down as 57 satoshis (0.00000057) but this only lasted 1 day... Patience is key.
The next day, today, prices are moving back up and the chart for TCTBTC looks completely normal and healthy. Patience is the solution to this last strong drop.
Below you can find more information about our manual stop-loss.
This is not financial advice.
Thanks a lot for your support.
Namaste.
