This is not the right moment to hit the bat just yet. The great opportunities to buy and sell happen in the extremes, and by definition, they don’t happen every day. We must recognize when the odds are in our favor and treat them more carefully. At this moment, we are at a high risk with low reward environment. I value results that put risk control ahead of full participation in market gains. Just as the saying goes, “There are bold investors, there are old investors, but there are no old bold investors” - Howard Marks. I aim for batting average, not home runs. 

While we may never know where the market is going, we ought to know where we stand. It is impossible to know when a bull market will turn down or when a bear market will cease and when appreciation will take place. We can infer where markets stand in their cycle from the behavior of those around us. When investors are unworried, we should be cautious; when investors are panicked, we turn aggressive. This contrarianism view, however, will not produce profits all the time. Looking at the overall crypto cycle, Bitcoin has been on as sideways movement for the past two months. And with $Spank's overall movement, I am sitting on cash at the moment. 

(Spank/USD chart as of 11/03/18 01:26:36 UTC)

After Spank's brief upward trend against USD, the Fibonacci retracement suggests a potential pullback. However, RSI doesn’t support an over all buy signal, nor does the Bollinger band suggest that Spank is oversold.

I will post another analysis as I see a buy signal, In the mean time though: "In Booty We Trust"

Disclosure: THESE ARE NOT SIGNALS OR INVITATIONS TO TRADE ANY SPECIFIC FINANCIAL INSTRUMENT. DO NOT TRADE BASED ON THE INFORMATION IN THIS POST! THIS POST IS FOR EDUCATIONAL PURPOSES ONLY.