The last time we discussed altcoins, we mentioned we were tactically shorting overbought names bouncing into supply while eyeing more intermediate-term long positions.
This approach paid off, with names like Gala $GALA and Sandbox $SAND succumbing to the selling pressure, booking a quick profit.
Moving forward, as we laid out in yesterday's note, the market's in a state of balance, and we have a neutral outlook.
This is the time when we're closely monitoring names showing leadership, waiting patiently for setups to solidify.
This will be a short and sweet note with three long trade ideas.
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