By looking at the market, I am getting more and more convinced that it is being manipulated. I do not see a good reason why markets would go up these days, except for manipulation.
Maybe for a lot of people who are in the trading business it is a "duh" or "I told you" thing, but as I am learning from basics to advanced stuff, I also see fit sharing what my opinions during my journey.
If you have been reading my posts, you would probably know that I am expecting a harsh drop of the overall crypto and stock markets (btw I do not own any stocks, even though I would in the future).
I bought some LINK when it was around 6-8$ and like many in the space, I thought it would go to the moon. I sold my chunk of it yesterday for 10,63$. Don't get me wrong, I still think that LINK is a good project and the world of Oracles is still new and unexplored in the cryptospace and maybe 1-2 years from now, could really go way up in price. That being said, some months ago I would have bought LINK during dips, but not now.
The why I sold LINK:
This is the weekly chart of LINK. Do you see that purple line? It is in a downtrend. Normally you would not sell here, but you wouldn't buy either, because it is going lower. In my opinion, this would be the last week before we see major downs on all assets. I wanted to have some cash on the sideline, just in case that we see March repeated again. Many countries are discussing lockdown. Presidential debate of 15 October has been postponed, which I think could increase volatility of the market.
That being said, in my opinion, it is a nice strategy to wait on the sidelines at the moment and not rush into anything.
Disclaimer: Not financial advise. After all this is my journey in the crypto space and I am learning and sharing what I learn.
