Warning: I Was Wrong and I Don't Know ATM

Uncertainty prevails for the markets

Hey guys,

Short update: I was wrong to go long last week. I could have not foreseen the Bybit hack nor the weak economic data from the US which tanked the stock market.

At this very moment, I returned to stables apart from my staked LINK. To be honest, I don’t know where this market goes and if I don’t have conviction, I rather watch from the sidelines.

You know I have been high conviction from the bottom in 2022 and throughout the last 2 or 3 years - that was my honest take. Currently, my honest take is that I don’t know what to expect. The crypto and overall stock market are at or around ATH and have been going up for a few years in a row, which increases risk by a lot. So currently, I’m not saying the top is in but it could be in and therefore I want to watch from the sidelines, I gave back some gains made on TAO last week and HBAR & LTC have been weak. I do not want to give back too much, hence I’m back in stables. This is a time where the market could take back your gains so caution is needed.

Absolutely no one is always right in the market, neither am I, but what we can at least do is damage limitation when we are wrong. This time is about capital preservation.

IMPORTANT: I do NOT provide any financial advice, I just give you my opinion and share what I do, nothing more. This is my trading journal, you should always trade based on your own risk and your own situation - consult a professional financial advisor.

Best,
BlowOffTopic