Closed the position for a profit of about 1.27% of the invested capital. But I consider this as a breakeven trade.
There is a high probability for the market to reverse from this point or from the high of the upper trendline. The downside risk is about 54%. But considering the overall global market sentiments and the looming worries of recession, I don't feel comfortable in holding on to a highly speculative asset class like Crypto, especially in this valuation. So decided to book profits at breakeven.
I'll consider a re-entry if price crashes to the low of the diverging channel but only after evaluating the global market sentiment when that happens.
I did had other positions in this coin that I sold for some good profits in the past few weeks. Public posts regarding those positions are attached underneath. Do check the out too.
There is a high probability for the market to reverse from this point or from the high of the upper trendline. The downside risk is about 54%. But considering the overall global market sentiments and the looming worries of recession, I don't feel comfortable in holding on to a highly speculative asset class like Crypto, especially in this valuation. So decided to book profits at breakeven.
I'll consider a re-entry if price crashes to the low of the diverging channel but only after evaluating the global market sentiment when that happens.
I did had other positions in this coin that I sold for some good profits in the past few weeks. Public posts regarding those positions are attached underneath. Do check the out too.
