BTCUSD: Buckle up, bear market started.I think it's possible $BTCUSD might have ended it's 2 year bull market, and now entering a correction/consolidation phase. I'd expect some altcoins to fare well, so I will try to outperform $BTCUSD strategically shorting when needed, and holding exposure to select altcoins in my portfolio. I have reduced my crypto account size to be a mere 25% of my net worth in December 14, anticipating this outcome.
For now, entering shorts can be done on retrace, if it happens tomorrow, but, it is risky, since calling the top in this type of enviroment is always hard. I'd rather focus on reducing exposure and holding altcoins with the rest, and using shorts sporadically with low risk per trade (1% max, tight stops).
As a sidenote, it seems like the main mineable coins are not going to fare well, $LTC, $BTC, $XMR maybe, $DASH, $BCH, all look frail in their dollar charts, with $ETH and $NEO looking much better, or even $ZEC, $ETC, and a few more.
Best of luck,
Ivan Labrie.
PS: Sell Ripple, it's a scam. The top target zone I had outlined was 2.4-2.8, and it was already hit. Not worth holding on to it.
