Howdy traders, it’s Matt here.
The crypto market’s on a pullback right now.
But there are still opportunities in the market …
A selloff is only natural after the run we’ve seen in 2023.
But it’s not over yet … there’s quite a bit of support for prices to bounce off. Here’s a chart of Bitcoin (BTC) …
BTC chart 4-hour candles Source: BitcoinWisdom.io
I mentioned consistent profit opportunities …
Even when the market’s down, the niche we trade offers volatility and predictable setups.
Let me explain …
Last Week’s Example
The stock market’s down too.
But it’s been sliding for a few days now …
And yet, my mentor, Tim Sykes, managed to profit +$3k last week.
Three out of four assets follow the market. Where does he find these plays?
We focus on the small-cap niche.
In hot markets, a $2 stock might spike $15. In a slow market, it might only make it to $7 … but that’s still a 250% spike …
That’s just a hypothetical example, but you see my point.
We’ve got to trade more conservatively. But the same patterns work.
And that goes for crypto too.
Last week there was an Ethereum coin that spiked and consolidated before bouncing back toward the highs.
Insight Protocol (INX), here’s a chart …
INX chart 5-minute candles Source: Bitcoin.Wisdom.io
The price might not break through recent highs, but there are bounces to take advantage of.
We’ve got to keep a realistic perspective.
It’s possible we experience a market bounce in the next few days.
But until then, stay safe.
See you in the next letter.