Today's GMT was a solid bounce, and I got to ride the ups and downs of this! Aside from GMT, I also got to play in another coin, which I'll reveal later! As always, anything I mention here is not financial advice but my thoughts and my plans on the tokens discussed. Let's head on over to BTC!
BTC Situation
Yesterday's long red candle that was a supposedly healthy pullback proved to be too strong as it crashed the entire thing! Right now BTC went straight through the area of value and now we've got to see how it holds in this area. With the huge volume in the last 2 and 3 hours of the candle, I'm a bit worried for BTC. The last candle though shines a bit of hope on the situation, so we'll see how it turns out! This doesn't affect me too much as I am usually in cash in futures.
My Trades Today
GMT
GMT was a solid mix of longs and shorts today. I've actually lost count of how many entries I made while trading this. I had several positions I considered low balling which caught some sudden crashes, which was like free money for me! Gotta love the volatility! The current strategy when trading GMT is to trade the range. I expect its movements to go from 3 to 3.3 area for a while as it consolidates there before the next huge pump.
Bonus Token: MTL!
This was a very interesting token to play. I've managed to ride this with a bias on long several times today. Currently I wanted to short it but I'm not confident with the strength of the breakout so once I've established a bias, I tend to only trade in that direction as if things go wrong, I just needed to wait a bit longer to earn everything back.
Tomorrow's Watchlist
GMT
GMT is still the playground to be in with the huge volume of over 4B USD. Currently it's making its way back up the range so let's see how it will look like in the morning. I've got a buy order in the sub 3 area lowballing so hopefully it crashes and I manage to catch it.
Credits
- Charts taken from Tradingview.com and Binance
- Pictures made using Canva.com