There's no hiding the fact that we've had little to discuss in the way of tactical trading opportunities.
To avoid repeating ourselves, we're continuing our patient approach. You can read yesterday's note or last week's for more detail.
Speaking anecdotally, crypto traders specifically seem incredibly susceptible to a subconscious bias that they always have to be positioned. Everyone's trying to bottom-tick the market to fuel their ego.
It's a rookie's mistake, and the reality is far from the truth.
Maintaining the ability to sit out is not only a necessity in markets like these, but I'd argue should be the default option for traders.
The old saying is that there's only a handful of periods every year to make money. You're being patient for the rest of the year, waiting for the setup to form.
This perfectly encompasses our approach.
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