how much of an upward trend are the charts still showing?
Plenty.
When we were at 1.2, rate of increase of momentum was starting to wane a little bit. In fact I was getting ready to profit take on a few coins. But then it just took off again.
The charts are not much use in this type of situation.
The reason for that is that as soon as it starts to correct, all the whales get ready to pile into the dip. So you sell, thinking you're being clever and catching the top of the wave, then after just a 10-20% drop, in they come in and kick you out of the market in the space of 60 seconds, leaving you behind like a withered wreck while the train races off over the horizon.
Day trading this is for grown ups only. I'm staying well out of it. In fact I think the rest of my exchange account is now destined for cold wallet in case I give myself any smart ideas.
