The key question now is everything ready for another leg? I have $BTC near daily resistance, $ETH near monthly resistance, and $SOL at monthly resistance. Meanwhile, $ES is on shaky legs flirting with a trendline break to the downside / potential deviation of all time highs.
I was overexposed on BTC so decided to take half profit off the table. I'll let the rest run in case I'm overthinking things, but the reality is this BTC breakout has not acted like those of the past. I also think altcoins have mostly caught up and it's going to require a fresh leg up on ES and BTC in order for new major legs on alts.
TLDR, I could envision a local top for everything around here. Incoming "AH he took profit so now he's bearish". This isn't the case. Rather I'm preserving some mental energy here by locking in gains, paying myself for the hard work of the past week or two.
With the extra risk I had on, I'll allow it to run supported by HTF bullish bias and context of the markets right now. Worst case scenario all my extra risk stops out above breakeven and the HTF bull case is at least locally invalidated. That's fine with me.
So those are my thoughts for now. It's been a great run this month and hopefully profitable and educational for all.
Thanks for riding with me, enjoy 🤝
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