{"id":12310,"date":"2022-04-04T10:00:00","date_gmt":"2022-04-04T14:00:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=12310"},"modified":"2022-04-27T01:55:05","modified_gmt":"2022-04-27T05:55:05","slug":"crypto-signals-04-04-22","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/","title":{"rendered":"Morpheus Crypto Report &#8211; Ethereum Breakout with Relative Strength ($ETH)"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-453-50-\uff5c-ETHUSDT-Binance-Spot-1024x622.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-453-50-\uff5c-ETHUSDT-Binance-Spot-1024x622.png\" alt=\"BTC\" class=\"wp-image-10514\" width=\"717\" height=\"437\" title=\"\"><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">TABLE OF CONTENTS<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Morpheus_Crypto_Report_%E2%80%93_April_4_2022\" >Morpheus Crypto Report &#8211; April 4, 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Crypto_Portfolio\" >Crypto Portfolio<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#tracks_and_updates_all_crypto_signals_sent_to_members\" >(tracks and updates all crypto signals sent to members)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Ethereum_Breakout_with_High_Relative_Strength\" >Ethereum Breakout with High Relative Strength<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#The_ETH_Buy_Setup\" >The $ETH Buy Setup<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Locking_in_a_7_gain_on_a_4-day_hold_of_ETH\" >Locking in a +7% gain on a 4-day hold of $ETH<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Bagging_a_18_gain_in_Bitcoin\" >Bagging a +18% gain in Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Hit_and_run_altcoin_trades\" >Hit and run altcoin trades<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#COMP_17_gain_in_5_days\" >$COMP: +17% gain in 5 days<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#CVX_13_gain_in_2_days\" >$CVX: +13% gain in 2 days<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#QNT_13_gain_in_1_week\" >$QNT: +13% gain in 1 week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-04-22\/#Battle_Plan\" >Battle Plan<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Morpheus_Crypto_Report_%E2%80%93_April_4_2022\"><\/span>Morpheus Crypto Report &#8211; April 4, 2022<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Below is the full, archived version of <em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto Report<\/a><\/em> that was sent to subscribers on April 4, 2022.<\/p>\n\n\n\n<p>If you enjoy what you see, please <strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">join us<\/a><\/strong> as a Morpheus member to receive real-time access to your live crypto trader room, crypto trading analysis, crypto signals, and crypto portfolio. <\/p>\n\n\n\n<p>Please drop us any questions or comments at the bottom of the post&#8211;<em>we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"crypto-portfolio\"><span class=\"ez-toc-section\" id=\"Crypto_Portfolio\"><\/span>Crypto Portfolio<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"watchlist-closed-positions-open-positions\"><span class=\"ez-toc-section\" id=\"tracks_and_updates_all_crypto_signals_sent_to_members\"><\/span>(tracks and updates all crypto signals sent to members)<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-1024x453.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-1024x453.png\" alt=\"\" class=\"wp-image-10606\" width=\"717\" height=\"317\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-1024x453.png 1024w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-300x133.png 300w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-110x49.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-768x340.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-1536x679.png 1536w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-11-2048x905.png 2048w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><\/a><figcaption><em>PRESS IMAGE TO ENLARGE IT<\/em><\/figcaption><\/figure>\n\n\n\n<p id=\"model-portfolio-notes\"><strong>New crypto signals sent to members since the previous week are in yellow above.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ethereum_Breakout_with_High_Relative_Strength\"><\/span>Ethereum Breakout with High Relative Strength<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Ethereum ($ETH), the second largest cryptocurrency behind the King of Crypto, led the crypto market higher last week, with a solid display of relative strength.<\/p>\n\n\n\n<p>As Bitcoin ($BTC) drifted lower in pullback mode, $ETH trended steadily higher.<\/p>\n\n\n\n<p>Ethereum also broke out above a key level of horizontal price resistance and bounced perfectly off support of its 10-day moving average.<\/p>\n\n\n\n<p>On March 30, we alerted <a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto PRO<\/a> members in the Crypto Trading Room that we were monitoring for a potential pullback buy entry for $ETH in the portfolio.<\/p>\n\n\n\n<p>Specifically, we were looking for a precise buy entry on a pullback to the 10-day moving average.<\/p>\n\n\n\n<p>But why?<\/p>\n\n\n\n<p><strong>In a strongly trending crypto (or stock) the first pullback that touches the 10-day moving average since the start of a new rally is often an ideal, lower-risk buy entry point.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_ETH_Buy_Setup\"><\/span>The $ETH Buy Setup<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>We got our exact pullback entry point the next day, and we sent a Crypto Trade Alert to members that we were buying $ETH in the portfolio. <\/p>\n\n\n\n<p>The daily chart of $ETH below shows our buy entry point:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-453-50-\uff5c-ETHUSDT-Binance-Spot-1024x622.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-453-50-\uff5c-ETHUSDT-Binance-Spot-1024x622.png\" alt=\"BTC\" class=\"wp-image-10514\" width=\"717\" height=\"437\" title=\"\"><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<p>Notice how our buy entry off the 10-day MA was the FIRST touch of that moving average since the strong rally began weeks prior.<\/p>\n\n\n\n<p><strong>Again, this is typically a reliable buy signal&#8211;as long as the pullback is not on <em>higher<\/em> volume.<\/strong><\/p>\n\n\n\n<p>Shortly after our buy entry, increasing bullish momentum enabled $ETH to rally all the way back to its prior high the next day.<\/p>\n\n\n\n<p>At the same time, we noticed $BTC only recovered a portion of its similar pullback-<em>-not all the way back to the highs like $ETH<\/em>!<\/p>\n\n\n\n<p>This is notable because it pointed to clear leadership and relative strength in $ETH versus $BTC.<\/p>\n\n\n\n<p><strong>Leadership in $ETH also meant that we were likely to see short-term buying momentum in the overall altcoin market.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Locking_in_a_7_gain_on_a_4-day_hold_of_ETH\"><\/span>Locking in a +7% gain on a 4-day hold of $ETH<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When we bought $ETH, our trade plan was a quick momentum swing trade to just above the 3,600 area&#8211;a resistance area from earlier this year.<\/p>\n\n\n\n<p><strong>At the same time, we also wanted to take profits quickly if the price action started to falter (rather than sit through a pullback).<\/strong><\/p>\n\n\n\n<p>On April 3, $ETH broke out above its short-term highs and made a run for the 3,600 level. <\/p>\n\n\n\n<p>However, the price action stalled and $ETH drifted right back down to its prior base.<\/p>\n\n\n\n<p>This is shown on the <em>hourly<\/em> chart below:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-459-15-\uff5c-ETHBUSD-Binance-Spot-1024x622.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-459-15-\uff5c-ETHBUSD-Binance-Spot-1024x622.png\" alt=\"\" class=\"wp-image-10590\" width=\"717\" height=\"437\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-459-15-\uff5c-ETHBUSD-Binance-Spot-1024x622.png 1024w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-459-15-\uff5c-ETHBUSD-Binance-Spot-300x182.png 300w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-459-15-\uff5c-ETHBUSD-Binance-Spot-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/3-459-15-\uff5c-ETHBUSD-Binance-Spot-1536x933.png 1536w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<p>Given this short-term stalling, we sent a Crypto Trade Alert notifying members we were raising the stop to just below the low of that pullback.<\/p>\n\n\n\n<p>As anticipated, the short-term stalling led to further selling, which quickly knocked us out of the trade with a <strong>solid +7.9% gain.<\/strong><\/p>\n\n\n\n<p><strong>That&#8217;s the Morpheus trading system at work<\/strong> with low-risk entry points and proactive trade management to generate consistent crypto trading gains!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bagging_a_18_gain_in_Bitcoin\"><\/span>Bagging a +18% gain in Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>We bought $BTC in the <a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto<\/a> portfolio after the higher volume, bullish reversal candle formed on February 24 (one of our &#8220;longer-term&#8221; swing trades).<\/p>\n\n\n\n<p>Following our trading plan and trailing stops higher along the way, we finally <strong>sold the $BTC position into strength on March 29, for a solid gain of +18.6%.<\/strong><\/p>\n\n\n\n<p>The daily chart below shows our exit into strength, as it stalled at resistance:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/45-178-50-\uff5c-BTCUSDT-Binance-Spot-1024x645.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/45-178-50-\uff5c-BTCUSDT-Binance-Spot-1024x645.png\" alt=\"\" class=\"wp-image-10592\" width=\"717\" height=\"437\" title=\"\"><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<p>Our $BTC exit has worked out well, as that has marked the high of the rally so far.<\/p>\n\n\n\n<p>Still, price action in $BTC lately remains constructive, as it spent the past week in healthy pullback mode.<\/p>\n\n\n\n<p>Currently,  Bitcoin has pulled back to the 45,500 to 46,000 area&#8211;which is new support of the prior resistance from the February highs.<\/p>\n\n\n\n<p>If $BTC fails to hold the 45,500 level, then look for next support around the 44,200 level.<\/p>\n\n\n\n<p>This is support of the prior pullback low from April 1, which also converges with support of the 20-day exponential moving average.<\/p>\n\n\n\n<p>Regardless, keep in mind that <strong>$ETH may still be a better pullback re-entry than $BTC because of its higher relative strength <\/strong>(but keep in mind the crypto market is quite dynamic).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hit_and_run_altcoin_trades\"><\/span>Hit and run altcoin trades<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As mentioned above, the relative strength in $ETH spread to the rest of the altcoin market last week.<\/p>\n\n\n\n<p>We took advantage of short-term momentum in the altcoin market with a few trades we held just a few days and sold for gains.<\/p>\n\n\n\n<p><strong>This enabled the Morpheus Crypto Portfolio to lock in a net portfolio gain of +5.5% for the week.<\/strong><\/p>\n\n\n\n<p>Individual trade stats were quite positive as well.<\/p>\n\n\n\n<p>For the week, we closed the following trades (as shown in the portfolio above):<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>6 winners with an avg. net portfolio gain of +1.04%<\/li><li>3 losers with an avg. loss of just -0.24%<\/li><li>1 scratch (breakeven)<\/li><\/ul>\n\n\n\n<p>Let&#8217;s review the charts of a few of these trades, to help you understand our rationale for the entry and exit levels of each.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"COMP_17_gain_in_5_days\"><\/span>$COMP: +17% gain in 5 days<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a class=\"wp-image-10596\" href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/157-6-\uff5c-COMPUSDT-Binance-Spot-1-1-1024x641.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/157-6-\uff5c-COMPUSDT-Binance-Spot-1-1-1024x641.png\" alt=\"\" class=\"wp-image-10598\" width=\"717\" height=\"437\" title=\"\"><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"CVX_13_gain_in_2_days\"><\/span>$CVX: +13% gain in 2 days<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a class=\"wp-image-10596\" href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/35-82-\uff5c-CVXUSDT-Binance-Spot-1024x644.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/35-82-\uff5c-CVXUSDT-Binance-Spot-1024x644.png\" alt=\"\" class=\"wp-image-10604\" width=\"717\" height=\"430\" title=\"\"><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"QNT_13_gain_in_1_week\"><\/span>$QNT: +13% gain in 1 week<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a class=\"wp-image-10596\" href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/134-8-\uff5c-QNTUSDT-Binance-Spot-1024x644.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/134-8-\uff5c-QNTUSDT-Binance-Spot-1024x644.png\" alt=\"\" class=\"wp-image-10598\" width=\"717\" height=\"437\" title=\"\"><\/a><figcaption><em>Press image to view full-sized chart<\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Battle_Plan\"><\/span>Battle Plan<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After a highly profitable, busy week of trading, the Morpheus Crypto Portfolio is now back to a<strong> 92% cash position <\/strong>(only holding $DPI).<\/p>\n\n\n\n<p><strong>Recent market momentum has been ideal for profitable short-term trading opportunities, but <em>we are not in a new bull market YET.<\/em><\/strong><\/p>\n\n\n\n<p>That&#8217;s why we have been proactively managing the portfolio trades with more aggressive exit strategies.<\/p>\n\n\n\n<p>The <em>short-term <\/em>trend remains up since last month&#8217;s bullish reversal, but the<strong> <em>intermediate-term<\/em> trend could flip either at this point (depending largely on $BTC action).<\/strong><\/p>\n\n\n\n<p>As such, our overall trading strategy right now is to continue our &#8220;hit and run&#8221; strategy to focus on relatively quick profits with less risk of sitting through potentially steep pullbacks.<\/p>\n\n\n\n<p>The market has given us some great trading opportunities over the past week, but&nbsp;<strong>may be entering a short-term period of indecision<\/strong>&nbsp;based on chart patterns we are seeing right now.<\/p>\n\n\n\n<p>As such, we are currently scanning hundreds of charts for new potential pullback setups, but are&nbsp;<strong><em>not<\/em>&nbsp;in a hurry to enter new trades at the moment.<\/strong><\/p>\n\n\n\n<p>Let&#8217;s be patient to wait for the low-risk entry points to develop, just as we did by waiting for the pullback to the 10-day MA for our $ETH trade entry recently.<\/p>\n\n\n\n<p>With a 92% cash position, we can be nimble and ready for the next opportunities.<\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">SIGN UP NOW<\/a><\/strong> to start receiving your winning Morpheus crypto trade signals, including a crypto portfolio<\/em> <em>you can easily follow.<strong> <a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto PRO<\/a><\/strong> includes <strong>live crypto trader room<\/strong> for daily, real-time trade ideas and powerful crypto trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum also broke out above a key level of horizontal price resistance and bounced perfectly off support of its 10-day moving average.<\/p>\n<p> a strongly trending crypto (or stock) the first pullback that touches the 10-day moving average since the start of a new rally is often an ideal, lower-risk buy entry 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