Range within range within another range, it seems that only daytraders are active in the market.
It's easy, choose a range you are comfortable in, place a buying order and place already a sell order at the most convenient level... Rinse and Repeat until the range or game table breaks.
At some point, real investors are going to get tired of so much ping-pong ... we do not know in which direction the range is going to break but what is clear is that nobody wants to make a false step.
Especially during these last days in which we are seeing really bad news in the crypto industry, ie, Binance Ban in UK, Japan, Ontario...
Neither you nor I have much to do here... well, yeah, try to rack up sats by playing rank so, yes, select your ping-pong pitch and play.
In addition to this, it is not bad to put a few purchase orders below 30K or whatever corresponds to your preferred ALTCOIN.
Honestly, I think it only takes a big whale with enough guts to enter the market for it to go one way or the other in chain reaction... and I really don't think this whale is going to take long to do so.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Aside from the mining crackdown in China which was expected not much happened to actually fuel all the FUD.
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Binance ban in UK is not a good new neither
The Binance ban has been misunderstood.The British are allowed to trade. The ban is referring to something else. It's some different company with different products.
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Yeah, It is mainly refereed to trade margin and options products, I know
I think there's plenty to fuel the FUD! The financial media is ripe with all the bad things about crypto. Couple that with Elon and intentional negative news on China and you've got a Xinjiang ESG FUD! Multiple FUDs are there to stay until CBDCs and/or banks are ready.
Also I think that as we move along, certain cryptos will get attacked at state-level (BTC or privacy coins...), while others will be "blessed".
But for us here in crypto already, we know the FUD for what it is... :D