To be honest I'm not sure I'm liking what is happening with the market at the moment. There was the flash crash yesterday on obviously fake news out of South Korea. Anyone that has bothered to look knows South Korea aren't outright banning crypto tomorrow. I'm surprised the market took such a hit though, it makes me wonder if market confidence is low. To be honest I waited until the market recovered from 600b to 700b, then I quickly reduced any non-core positions. Almost all of my short term positions have no been closed (read: coins I liked the TA but don't believe in long term). I can't believe I'm saying this but I've actually returned some money into AUD.
Since there may be some needed hodl'ing coming I thought it best to take a bit of coin out now. I will say this, I believe BTC can break up out of the bullflag (especially considering it's large drop in market domination lately) but simply put sometimes you have to hedge your bets. Bull market continuation will be confirmed with flag break up. If BTC does drop any further whole market will show red.
Remember if HODL'ing is coming BTC traditionally holds better than most of the market, new emerging players with substance (fully functional products) like VeChain, Wabi may hold better than speculative coins that have been on large runs lately. I also still have a play in ADA , though as it's still in the speculative region it could take a hit.
Whether the market goes up or down short term I'm a long term believer in crypto but it seems sensible to take a portion of profit out for now.
If you have money on the markets we're in HODL'in time. Do not sell anything!!! At the same time I'm going to be cautious with my fiat and see where we're at on weekly open in 5 days.
I would expect this to all be a distant memory after lunar new years at the end of Feb.
In the meantime I think I need to learn forex.
A few things of note, they always happen when 'exchanges can't take new people, too many new sign ups'. They're over before the avg person can clear new money into crypto. These fake news articles always hit in line with TA's desired effect aka market sliding, negative news article comes out (it's easier to manipulate a market with momentum opposed to against it).