Hi Guys
First of all... I'm not worried. Stay positive. Let's rewind a bit and ask you your opinion. Where on the chart do you think BTC had a healthy growth before it went parabolic and went for the stars? It would probably be somewhere early or mid November right? Would it be crazy to assume that this miniature hype between now and mid november was full of people buying green? How many bull flags have you seen in crypto followed by a big retracement? Why would it be any different with BTC? These same people, who jumped on the green train, represented an extra 75% total marketcap... 50% to this day. Today we are at 400 billion total MC. A few weeks ago when BTC was at his best it was 800billion. So half left the market with profit or in worst case loss. What about the future? I'm not sure...We might consolidate for a long while but this can be an advantage to whoever wants to accumulate. Where is the bottom? I dunno honestly... Whether its 8K, 5.6K, 4.9k or lower... I dunno. But I can guess that the 8k still lies in the hype phase if you look at the chart. ... Again Im not worried about the future... The technology will create demand!
Accumulation strategies:
If in any case BTC starts to consolidate sideways for a long while it might give an opportunity for people wanting to accumulate. All you need to know is resistance and supports. Thats how I'll play it. Don't focus on value too much. Focus on accumulation with small profits. Value comes after ;)
BTC will probably bounce off the supports I've drawn on the chart. If you have some tether or fiat left. I'd buy a little above these levels and sell em close to the fibs where you could expect some action. Dont forget to draw new fibs when BTC dips to new supports.
Good luck
TA über alles
First of all... I'm not worried. Stay positive. Let's rewind a bit and ask you your opinion. Where on the chart do you think BTC had a healthy growth before it went parabolic and went for the stars? It would probably be somewhere early or mid November right? Would it be crazy to assume that this miniature hype between now and mid november was full of people buying green? How many bull flags have you seen in crypto followed by a big retracement? Why would it be any different with BTC? These same people, who jumped on the green train, represented an extra 75% total marketcap... 50% to this day. Today we are at 400 billion total MC. A few weeks ago when BTC was at his best it was 800billion. So half left the market with profit or in worst case loss. What about the future? I'm not sure...We might consolidate for a long while but this can be an advantage to whoever wants to accumulate. Where is the bottom? I dunno honestly... Whether its 8K, 5.6K, 4.9k or lower... I dunno. But I can guess that the 8k still lies in the hype phase if you look at the chart. ... Again Im not worried about the future... The technology will create demand!
Accumulation strategies:
If in any case BTC starts to consolidate sideways for a long while it might give an opportunity for people wanting to accumulate. All you need to know is resistance and supports. Thats how I'll play it. Don't focus on value too much. Focus on accumulation with small profits. Value comes after ;)
BTC will probably bounce off the supports I've drawn on the chart. If you have some tether or fiat left. I'd buy a little above these levels and sell em close to the fibs where you could expect some action. Dont forget to draw new fibs when BTC dips to new supports.
Good luck
TA über alles