There seems to be a a lot of confusion in the crypto space at the moment. There is no shortage of people saying that this is the beginning of a bull run in the crypto market, the same is true for those who believe crypto's will break down. There is no way to know for sure what will happen in ANY market without inside information therefore if you hear guarantees that price will do this or that- I highly advise you ignore that advice. The calls for these coins to go higher is just as ridiculous as a call for them to go lower at this point in time.
You can click through many of these crypto charts and see similarities. These charts do look very strong and bullish however they look long term bullish to me not tomorrow bullish . Looking at bitcoin alone, we can see that this space is clearly in a digestive realm or simply put- a trading range. To think you understand which direction this market is going to head in the short term is pure speculation. Take all of those indicators that cloud your judgement off the chart and you can clearly see that these cryptocurrencies are just trying to relax for a minute. It is just as likely that bitcoin will fall back into the 30-40,000 range as it is that bitcoin will blow through its all time high. Though I am bullish on crypto, I am not convinced that any of these coins are going to take off higher at this time.
I think institutions are playing a huge role in current price action, and in my experience this kind of price action causes a lot of pain to people who jump the gun. Big money needs time to get itself positioned, and markets need time to digest in order to find a new floor (low) before moving higher.
I very rarely trade crypto- due to the volatility in the crypto space, I have personally found it to be far more profitable when looked at as position trades rather than active trades. For those who may not know, a position trade takes time. The primary goal is to build large positions over a given period of time while looking to capitalize on a large long term price movement. To summarize my analysis- I see no indication of cryptos moving higher or lower than prices they have already traded at Right Now. I see no reason to expect them to do anything other than violently trade within the range shown on the chart for awhile. With that said, I am long term bullish therefore I have many positions in this space dated back as far as September of 2020. I will continue to buy the dips in specific crypto markets while keeping my average price per coin as low as possible. My advice is to be patient. The Markets don't pay you when you want or need them too. If you find that you are losing trades often or in a state of nervousness when looking at your portfolio- your positions are too large. Stop trying to predict where everything is going and look at what the chart is saying.
If you believe the price of something will appreciate over time, invest in it without the idea of getting rich. Focus on not losing capital first & producing a positive return on investment 2nd.
Please give this idea a like if it was helpful to you and let me know your thoughts. How are you trading this pause in a bull market?
Ps. To those of you who have followed me for some time, I have changed the name and updated my site. There are some helpful new tools available at smartalectrading com
You can click through many of these crypto charts and see similarities. These charts do look very strong and bullish however they look long term bullish to me not tomorrow bullish . Looking at bitcoin alone, we can see that this space is clearly in a digestive realm or simply put- a trading range. To think you understand which direction this market is going to head in the short term is pure speculation. Take all of those indicators that cloud your judgement off the chart and you can clearly see that these cryptocurrencies are just trying to relax for a minute. It is just as likely that bitcoin will fall back into the 30-40,000 range as it is that bitcoin will blow through its all time high. Though I am bullish on crypto, I am not convinced that any of these coins are going to take off higher at this time.
I think institutions are playing a huge role in current price action, and in my experience this kind of price action causes a lot of pain to people who jump the gun. Big money needs time to get itself positioned, and markets need time to digest in order to find a new floor (low) before moving higher.
I very rarely trade crypto- due to the volatility in the crypto space, I have personally found it to be far more profitable when looked at as position trades rather than active trades. For those who may not know, a position trade takes time. The primary goal is to build large positions over a given period of time while looking to capitalize on a large long term price movement. To summarize my analysis- I see no indication of cryptos moving higher or lower than prices they have already traded at Right Now. I see no reason to expect them to do anything other than violently trade within the range shown on the chart for awhile. With that said, I am long term bullish therefore I have many positions in this space dated back as far as September of 2020. I will continue to buy the dips in specific crypto markets while keeping my average price per coin as low as possible. My advice is to be patient. The Markets don't pay you when you want or need them too. If you find that you are losing trades often or in a state of nervousness when looking at your portfolio- your positions are too large. Stop trying to predict where everything is going and look at what the chart is saying.
If you believe the price of something will appreciate over time, invest in it without the idea of getting rich. Focus on not losing capital first & producing a positive return on investment 2nd.
Please give this idea a like if it was helpful to you and let me know your thoughts. How are you trading this pause in a bull market?
Ps. To those of you who have followed me for some time, I have changed the name and updated my site. There are some helpful new tools available at smartalectrading com
