I hope you are all healthy and doing good! Long time, but rather quality instead of quantity :P
Do you remember my trading idea from October 21st, 2021? If not, feel free to read it again (it's not that long, I promise)!
It seems that my comments from October 24th / 28th weren't that exaggerated - I had mentioned that MACD was overextended, Heikin Ashi indicated a reversal and either we would see a small shake-out or "greed and fear is driving the sell-off and we could see another strong pullback to the monthly level around 45K (this has happened a few days ago) - actually all of it happened - we saw a small shake-out, the price went further up, but then something important had happened, something I had mentioned in my ideas before to always watch out for: a divergence - look at the MACD and price, as BTC gets closer to its ATH, the MACD goes lower, which is another indicator of a reversal coming. It could have gone to 75K and reversed then, but noone can pinpoint the exact moment, so always watch for this and use bigger time-frames to get the bigger picture.
So what's the real lesson here? I think it's something most of us are aware, but we rarely use it: stop-loss and taking profits.
This was something I had mentioned before in all my ideas (also in the one from October 21st):
"Now these hints do not mean that the play is over, but make sure to take profits, when you feel right about it and don't become greedy."
"It's obvious noone knows the future and that is why we use stop-loss..."
I was lucky, because my stop-loss was in place - I had actually forgot about it, after the price tried to recover, but it really saved me a big decrease of my account size.
You might think "Well, I didn't use my stop-loss and now carry many bags, what should I do?"
I would sit it out and if I had some extra cash in my buffer left (I always keep some to buy the dips of projects I am a fan of), I would reduce my average price for the bags I carry. Make sure it is only money you can really afford to lose - it's never worth risking your rent or families' savings!
If you want to see the next levels of support&resistance feel free to look at my chart: I have marked weekly (purple) and monthly (white) levels. Orange are 4hr-levels - sometimes they come in handy, but not at all times.
As always, do your own due diligence. This is no financial advice, so trade with care!
For reasons of transparency: I am invested with 1/3 of my account size into $PUNDIX, $THETA and $TFUEL - the rest is buffer cash for dips.
Do you remember my trading idea from October 21st, 2021? If not, feel free to read it again (it's not that long, I promise)!
It seems that my comments from October 24th / 28th weren't that exaggerated - I had mentioned that MACD was overextended, Heikin Ashi indicated a reversal and either we would see a small shake-out or "greed and fear is driving the sell-off and we could see another strong pullback to the monthly level around 45K (this has happened a few days ago) - actually all of it happened - we saw a small shake-out, the price went further up, but then something important had happened, something I had mentioned in my ideas before to always watch out for: a divergence - look at the MACD and price, as BTC gets closer to its ATH, the MACD goes lower, which is another indicator of a reversal coming. It could have gone to 75K and reversed then, but noone can pinpoint the exact moment, so always watch for this and use bigger time-frames to get the bigger picture.
So what's the real lesson here? I think it's something most of us are aware, but we rarely use it: stop-loss and taking profits.
This was something I had mentioned before in all my ideas (also in the one from October 21st):
"Now these hints do not mean that the play is over, but make sure to take profits, when you feel right about it and don't become greedy."
"It's obvious noone knows the future and that is why we use stop-loss..."
I was lucky, because my stop-loss was in place - I had actually forgot about it, after the price tried to recover, but it really saved me a big decrease of my account size.
You might think "Well, I didn't use my stop-loss and now carry many bags, what should I do?"
I would sit it out and if I had some extra cash in my buffer left (I always keep some to buy the dips of projects I am a fan of), I would reduce my average price for the bags I carry. Make sure it is only money you can really afford to lose - it's never worth risking your rent or families' savings!
If you want to see the next levels of support&resistance feel free to look at my chart: I have marked weekly (purple) and monthly (white) levels. Orange are 4hr-levels - sometimes they come in handy, but not at all times.
As always, do your own due diligence. This is no financial advice, so trade with care!
For reasons of transparency: I am invested with 1/3 of my account size into $PUNDIX, $THETA and $TFUEL - the rest is buffer cash for dips.
