Below is a past issue of Morpheus Market Minutes, your free daily market analysis and top picks for swing trading stocks and crypto.
The crypto market moved lower today, prompted by a sharp sell-off in the stock market.
However, $BTC and the altcoin market showed impressive resiliance by finding support at mid-day and began edging higher.
On the 4-hour chart, one of the top time frames for our swing trading strategy, notice that $BTC remains in consolidation mode–despite today’s pullback:
After locking in gains in $MANA and $ETH yesterday, the Morpheus Crypto portfolio is currently 92% cash.
Our “hit and run” trading strategy for weak markets has kept members safe in a downtrending market.
Nevertheless, we are continually scanning for top relative strength setups with low-risk entry points.
Currently, we are stalking $AXS for potential buy entry in the portfolio due to today’s high relative strength, accumulation volume, higher low, and solid fundamentals.
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