Unless you are not home in cryptoland you cannot have missed the nice 20% bump bitcoin got today.
Is this the beginning of the bull market? I doubt it but it is a nice opportunity to take a bit of gains like @exyle did today as well.
I on the other hand was thinking a little differently today. If Bitcoin makes this big of a jump then the alts are bound to follow. So I sold a bit of BTC and bought some more steem. This is currently sitting in on an exchange (I know, not good) but I do not really want to power it up yet. If the whole thing tanks then at least I have more steem (can never have enough of that) and if Steem follows BTC then I can buy back the BTC and keep the profits in Steem
So in my eyes there is nothing much to lose here and we are not talking thousand of Steem here anyway.
We have to admit that all crypto are risky assets so going from one to another does not really make that big of a difference.
I hope my strategy pays out and steem rallies above the 0.5 or makes back the losses relative to BTC.
I am not a pro trader but I dabble a bit on Bitmex from time to time (managed to stay on a break even but not really to win anything big)
The TA makes sense and Steem is due for a breakout and with the green market the movement up would also make sense.
lets wait and see...
it could go UP
it could go DOWN
only time will tell.
what do you think? good move or not?