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.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.