Market Outlook #84 Post author:Nik Post published:July 13, 2020 Post category:Altcoins / Market Outlook / Premium Content Post comments:2 Comments You must be logged in to view this content. You can register for access to the Premium Content via the sign-up form below or here. Username * E-mail * First Name Last Name Password * Repeat Password * I allow the website to collect and store the data I submit through this form. * Premium Content - £9.99 / 1 MonthAccess to the Premium Content section of the blog for one month.Select a Payment MethodPayPalCredit / Debit CardNo payment methods are available for the selected subscription plan.Discount Code: Applying discount code. Please wait… Processing. Please wait...Credit / Debit Card Information Tags: Algorand, Altcoin Market Cap, Altcoins, Bitcoin, Cardano, ChainLink, Ethereum, Fantom, Market Outlook, NKN, Premium Content, Stratis, Telcoin Read more articles Previous PostHow To Spot Accumulation and Distribution in CryptocurrenciesNext PostMarket Outlook #84 (Free Edition) You Might Also Like Market Outlook #79 (Free Edition) June 1, 2020 Market Outlook #3 September 23, 2018 Market Outlook #78 May 27, 2020 This Post Has 2 Comments Cyril Cox 15 Jul 2020 Reply Great post Nik! Love the reads. I’d be curious to see your thoughts on distribution levels and how to anticipate proper levels. I know taking profits along the way is key and following the richlist and price-action for distribution signs. I just feel clouded in my judgement due to lack of experience in this scene and frankly, due to my greed. Take for example Tellor, it’s reaching into terra incognita, yet the volume has shown recent massive accumulation (or distribution..?) Furthermore the richlist has suggested most addresses are distributing, except for the largest private address, it seems to have accumulated massively (before this recent spike up!). I’ve attached a chart sketching out some points. By means of your book and accumulated knowledge I could see it would be wise to take partial profits here, yet the signs seem paradoxical; I’d love your thoughts. https://charts.cointrader.pro/snapshot/IOOfs Thanks mate, hugely appreciated! Cyril Nik 20 Jul 2020 Reply Hey Cyril, So, a couple of points here: 1). I see you’ve highlighted the $150mn traded volume on a single day whilst market cap was significantly lower. One thing to be mindful of is the exchanges on which that volume is being traded; for Tellor, the top exchanges are Hotbit, Bilaxy and Hoo (Whatever that is?) – clearly a lot of the volume being traded is wash and so the overall figures are often unreliable. 2). I would absolutely be an advocate of taking partial profits along the way at predetermined levels – usually these are historical resistances and as you rightly noted the all-time high (which is now in the distance as TRB has continued to rally). Once you break a previous all-time high, I personally like to start shaving significant amounts off my position as soon as I see top addresses distributing heavily and volume on reliable exchanges beginning to decline despite price rallying. You should also take into account how much of a return you’ve made on the position *and* the project’s current market cap; when we look at Tellor, $21mn as a cap is decent but not necessarily a overblown euphoric peak – I’d imagine there’s plenty of room to continue rallying here, especially if more prominent exchanges are on-boarded. What I like to always be mindful of is opportunity cost; you may have made, for example, 5x on Tellor; what are the chances it rallies another 5x from here; is it more likely that other projects rally 5x? I’m always scaling out and rebalancing based on opportunity costs. Leave a Reply Cancel replyCommentEnter your name or username to comment Enter your email address to comment Save my name, email, and website in this browser for the next time I comment. Enter your website URL (optional) Notify me of follow-up comments by email. Notify me of new posts by email.