Hooked Protocol Hits Bottom, Goes Green (726% Mapped)We are looking at Hooked protocol and I would love to say, "Hey look, here is the bottom..." etc. But there is something missing when the chart is really young. While the market is interrelated and what one does, the rest follows; it is hard to write certain things without the historical supporting data.
➖ This is an analysis for HOOKUSDT. The HOOKBTC trade-idea can be found at the 'Related publications' at the bottom of this post.
Hooked did hit bottom in August 2024, a new All-Time Low and the action we are seeing now is supported by really high volume. The highest volume ever.
Taking into consideration the broader market cycle; the 2025 bull-market, we can expect a new uptrend to develop for this pair.
Everything looks good. After buying, we just wait.
What would you do if there is a crash right after you just bought in?
There are three ways to approach such a situation.
1) Buy more.
2) Wait patiently.
3) Sell at a loss with the intention of rejoining at a later time.
Answer expanded.
1) If you are confident in your analysis and what Cryptocurrency has in store for us in the year 2025, buying more would be something easy to do. If you have the conviction that the market will grow, a drop can be used as an opportunity to get more coins at a lower price.
2) If no additional capital is available or simply your conviction about future events is not strong enough, you can simply wait it out, see how it goes. This way you will not increase your exposure but keep the position. Remember, in spot trading you are buying the coins, so nothing happens if we wait.
3) If one has experience and see the drop happening, selling is an option. One can sell right away with the intention to track the market procuring a better entry. This choice can lead to mistakes, anxiety and other problems. It requires timing, energy and knowledge to track the market and predict a new support level.
Of course, this is all theoretical. I've been on the other side and based on my experience, the best option is always to hold. Just hold thinking of the long-term. This tend to produce the best results because results are not only money based. Peace of mind can be as profitable as a few hundred ks. Some people pay millions for a few hours of peace... Some people cannot be peaceful no matter how much they pay.
Thank you for reading.
You are appreciated.
Namaste.
