To new and some long term BTC traders who need to hear this
Updated
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Thank you for considering my thoughts
and I hope you are as encouraged as I am.
Hello, so here are some of my thoughts on the price action of BTC today. As the new year takes off, we continue to see boring price movements across the board from traditional markets to digital assets. Some of these movements, being a result of external pressure as the bulls and bears wage war, have caused hundreds of billions of dollars to be liquidated. External pressure from how investors respond to what the U.S. Federal Reserve decides to do with interest rates to combat inflation has proven to spook new investors while long-term hodlers continue to accumulate as the On-Chain data shows. This is the same narrative I've seen play out over and over in different ways. The sellers are always selling to buyers. In this story who is the buyer and who is the seller? Most importantly, who is making money and who is losing money while calling cryptocurrencies a scam? These are the same investors that buy in when the price is high and sell when the price drops as a result of emotions. If you believe in the fundamentals of Bitcoin as a superior medium of exchange and store-of-value, then selling out completely is never an option especially as the price drops. Keep in mind. When in doubt, zoom out. Future price action is always affected by the previous price action. If you feel like you need to sell as the price dips then maybe you're over-leveraged. With what we've seen in the past year we can see the price of BTC fluctuate between $28,000 USD and $69,000 USD. Right now is not such a critical moment even while the price is currently hovering above
42K at the time of writing. If you look at the chart you can see these different zones of interest that traders have had. DCA is always my go-to strategy, however, if you are trading then look to buy as the price enters the blue and red zones as history has shown these areas to be most profitable. Look to sell as the price moves through the yellow and green zones. Always keep some dry powder for unexpected events. Be ready for traditional markets to open Tuesday, at 9:30 am EST. BTC is at the end of a falling wedge pattern with little room to drop from support signaling a buy in my book as I look for buying opportunities when the price dips into the marked out zones of interest. Structure needs to be built which is the price is what it is today.
Thank you for considering my thoughts
and I hope you are as encouraged as I am.
Hello, so here are some of my thoughts on the price action of BTC today. As the new year takes off, we continue to see boring price movements across the board from traditional markets to digital assets. Some of these movements, being a result of external pressure as the bulls and bears wage war, have caused hundreds of billions of dollars to be liquidated. External pressure from how investors respond to what the U.S. Federal Reserve decides to do with interest rates to combat inflation has proven to spook new investors while long-term hodlers continue to accumulate as the On-Chain data shows. This is the same narrative I've seen play out over and over in different ways. The sellers are always selling to buyers. In this story who is the buyer and who is the seller? Most importantly, who is making money and who is losing money while calling cryptocurrencies a scam? These are the same investors that buy in when the price is high and sell when the price drops as a result of emotions. If you believe in the fundamentals of Bitcoin as a superior medium of exchange and store-of-value, then selling out completely is never an option especially as the price drops. Keep in mind. When in doubt, zoom out. Future price action is always affected by the previous price action. If you feel like you need to sell as the price dips then maybe you're over-leveraged. With what we've seen in the past year we can see the price of BTC fluctuate between $28,000 USD and $69,000 USD. Right now is not such a critical moment even while the price is currently hovering above
42K at the time of writing. If you look at the chart you can see these different zones of interest that traders have had. DCA is always my go-to strategy, however, if you are trading then look to buy as the price enters the blue and red zones as history has shown these areas to be most profitable. Look to sell as the price moves through the yellow and green zones. Always keep some dry powder for unexpected events. Be ready for traditional markets to open Tuesday, at 9:30 am EST. BTC is at the end of a falling wedge pattern with little room to drop from support signaling a buy in my book as I look for buying opportunities when the price dips into the marked out zones of interest. Structure needs to be built which is the price is what it is today. Note
BTW non of this is financial advice. I'm just a guy on the internet.Note
If you agree with me then let's talk about your thoughts on the direction of BTC short-term and long-term. If you disagree with me then politely explain why.
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