No one has a crystal ball for the crypto market, but what we do have to look at is history. Although past performance does not guarantee future results, when it comes to the Bitcoin ’s current situation, history shows some alarming parallels. Above are two charts regarding the bitcoin that will have you wondering: Will this time be different, or will history repeat itself?
The patterns do repeat themselves -- and with good reason. The stock market is governed by a set of two principles: supply and demand; and fear and greed. Both are based on human nature, and human nature doesn't change. In a bear market, all stocks are taken down. Greed gives way to fear, and investors can't sell fast enough. But the smart money sees value in the best stocks and will begin accumulating shares, bidding these stocks up. So, when the market hits bottom, some of these stocks will have already built bases and are back near highs. They get ready to break out and rush to new highs, leading the way once a new bull market begins.
And these bases have certain characteristics that show up repeatedly in market cycle after market cycle
If you asked 10 people about their strategy you will find one trader among each 10 people. 9 out of each 10 people become traders then end up losing money after few month, weeks or even days.
The only person who keeps making money from the crypto market is the smart trader and not the gambler . If you want to make money from the crypto market then you must shift your mindset to become more of an trader / investor than a gambler. Gambler might make some profit on the short or even the medium term but sooner or later they end up with losses.
Ok, I know some of you are still waiting me for more specific review about to talk about Bitcoin right now. Actually, Nothing is changed.
Below $7800 , I am not so optimistic! If we close and open the day candle above $7800 , It will be time to put more money in my crypto portfolio.
Strong Resistance blocks: $9,800 - $10,000
If we close above $12000 for a week, We will be opening new long trades! Then, Our targets will be $15000, $17000 and $20000 resistance levels.
Strong Support block: $6,000 - $6,500
I’m opening a big-sized long position (saving some of my USDT balance in case we do get a chance at ~$4800 - $5200).
No matter what, I am still bullish long term and targeting $50,000 value BTC sooner or later.
Last but not least you should always keep the ratio below
30 - 40 % BTC
40 - 50 % ALT
10 - 30 % USD
If you know and apply : 5% strategy with a stop loss, 10% profit strategy , Moving Average Across Strategy and RSI strategy , You will make money in a bear and bull market.
If you dont know, It is time to find out.
**They are in no way a prediction of current or future market direction. In the end, price and volume action on individual crypto / stocks and the indexes themselves are the true guides and will always dictate the most appropriate action to take.
**Nothing shared or published by me constitutes an investment recommendation, nor should any data or content provided by me be relied upon for any investment activities. I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.