"Whatever goes up must come down",i am sure we have all heard that phrase. The financial market is regulated so as to make sure it does not crush, as for the crypto market it is not regulated but it operate in a similar way. If you study those chart you can see that whenever cryptos are bullish they rise and when they rich a certain level you start to see some rejection candlesticks and that is how you cab tell that the price is about to reverse and start selling.
The market moves in wave, higher highs and higher low so when a lower high is broken then if you was holding some coins then you better sell them and take your profit.
How to respond to this current bloodbath?
As you can see there is a bloodbath in the crypto market as almost every altcoin is falling and if you do not react accordingly then all those coins you bought will lose value while you watch. In my previous article called stable coins vs altcoins i stated the advantages of stable coins like DAI, Tether and the likes.
If you look closely on the list you can see that while other coins are red, Tether is green and it maintained its price. So what you have to to now is, sell off all your altcoins and buy Tether so that you safekeep the value of your portfolio and you buy back letter when the market is going up again.
I hope this will be helpful!!
