The summer is here and Cryptocurrency always grows in the summer.
Why does this happen? How does it work?
Well my dear friends, when you are all in the computer, watching, working, ready to make money... You get the downside, red.
When the year was starting and you had doubt, everything grew. As soon as you get adapted and ready to play, the market makers start to take profits and you get discouraged and leave the game.
When the summer is up people go on vacations, after a long correction, you are ready to give up.
The smart money, traders and whales are ready to buy everything up... While you relax on the beach, for us it is the time to work.
It is a very complex game and it messes up with your nature, human psychology but we can win if we pay attention... Let's look at Dogecoin today!
There is zero need to go into tons of indicators nor a million details, the market moves down and it moves up and what one does, the rest follows.
June 2022 last year, everything hit a low. After this low everything produced a recovery rally...
Now Dogecoin has been left behind compared to say Bitcoin, Ethereum and Litecoin but it is still trading within a higher low.
There are tens of thousands of Altcoins and they can't all move at once.
When a group rest, the other group moves ahead.
Many pairs were crashing in November 2022, Dogecoin at this time had a bullish wave.
While other pairs were undergoing a bullish wave earlier this year, Dogecoin was in long-term correction mode.
Now everything matches, most of the Altcoins produced a major low around the 10-11 June... What follows is additional growth.
Of course, if things change and support breaks, you would get a lower low but this wouldn't change the fact that after this low, the market resumes growing... The worst case scenario is a longer period of wait.
That's why I enjoy trading spot... You buy each time prices drop, when red/low/support and then just wait.
When the excitement starts to build up, when we reach the top of the bullish wave it is time to sell.
You can sell short-term, mid-term or long-term... It is up to you, or you can do a mixture of these, that's the plan that you need to build before you trade.
Do your own research and thanks a lot for your amazing and continued support.
I love you so much. It has been one hell of a ride. A very long, hard, painful journey but truly packed with great people, enlightenment, growth!
See you on the next one.
Feel free to hit like and comment to show your support.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.