Sit On Your Hands Season

Louis Sykes
November 4, 2021

If we're truly entering into a new crypto bull market, trend-following strategies are the only game in town.

Forget all the rotations taking place because we're entering into the "sit on your hands season."

Overtrading and getting cute is going to be punished, while just sitting on quality coins is likely to be rewarded.

Less trading.

More conviction.

Sit on your hands.

I think that's the play for crypto in the coming months, assuming the bull market is just getting started.

We're talking names like Solana, Avalanche, Luna, Algorand, Elrond, Fantom, Axie among a handful of others as well as the majors like Bitcoin and Ethereum.

Keep it simple, and hold spot.

Patience Is Paying

Of course, this is all contingent on Bitcoin sticking the landing with its breakout.

Bitcoin's still ranging, so we'd have a lot more conviction if demand can absorb that red supply zone around 64,000/65,000.

While we're in the camp Bitcoin will ultimately resolve higher, the only question that remains is how long it'll take.

Patience is still the best approach in the near term if Bitcoin's below that overhead supply, no rush to jump into positions below there.

[hide_from accesslevel="all-star-charts-crypto"]If you enjoyed this post and want access to our premium research, sign up for our daily premium cryptocurrency research.

[/hide_from]

Allstarcharts Team.

Filed Under