The Few, The Proud...We survived 2018. BTC has bottomed!
We are on the 2nd wave count and have pulled back perfectly to the 618 retracement level and could hit 736 area. The weak hands always get shaken out on the 2nd wave. Then they usually end up buying higher on the 3rd wave and then get shaken out for a small profit or loss on the 4th wave. It's typical market psychology at play here.
Until BTC breaks below 3.1k I do believe we have bottomed and capitulation happened from 6k to 3k. Everyone in the streets are calling for more blood. The people who are all calling for a $1500 BTC price say we haven't capitulated because there's still too much "hope" in the market. Unless you're living under a rock basically all hope is gone. The only reason you think there is too much hope is because the small number of us who are still in this market believe in this tech. But the 99.9% mainstream don't give a shit about Bitcoin. Institutions are losing interest. Investors are suing to get their money back. Alt coins have fallen 90-99%. Miners are going bust. PEOPLE. ALL HOPE IS GONE. THIS IS CAPITULATION and you don't even recognize it. The mainstream thinks BTC is a joke and won't touch this rat poison. Don't confuse it. We are a small and focused demographic who still believe in this technology. And I'm guessing the ones who are still surviving now and trading are the strong ones now.
I have no problem being wrong. But if you're the type of person who is sitting on the sidelines believing BTC hasn't bottomed and your main reason for this is because someone famous or more educated than you said we haven't.....you need to check yourself and see whether trading is for you.
The way to trade doesn't have to be complicated.
1). Know what kind of market you're in (Bull, Bear) and what context are you trading (uptrend, downtrend, range trading).
2). Where are the important moving averages located right now
3). Understand fibonacci extension and retracement tools and what they mean
4.) Are we in an oversold, overbought market?
5.) What are some interesting price areas and risk/rewards
Your chart should not look like a treasure map and we need a legend to understand how to read it. Just because you have a million trend lines and it's all colorful doesn't mean you understand TA. In fact your chart should look clean and simple.
Until BTC breaks below 3.1k I do believe we have bottomed and capitulation happened from 6k to 3k. Everyone in the streets are calling for more blood. The people who are all calling for a $1500 BTC price say we haven't capitulated because there's still too much "hope" in the market. Unless you're living under a rock basically all hope is gone. The only reason you think there is too much hope is because the small number of us who are still in this market believe in this tech. But the 99.9% mainstream don't give a shit about Bitcoin. Institutions are losing interest. Investors are suing to get their money back. Alt coins have fallen 90-99%. Miners are going bust. PEOPLE. ALL HOPE IS GONE. THIS IS CAPITULATION and you don't even recognize it. The mainstream thinks BTC is a joke and won't touch this rat poison. Don't confuse it. We are a small and focused demographic who still believe in this technology. And I'm guessing the ones who are still surviving now and trading are the strong ones now.
I have no problem being wrong. But if you're the type of person who is sitting on the sidelines believing BTC hasn't bottomed and your main reason for this is because someone famous or more educated than you said we haven't.....you need to check yourself and see whether trading is for you.
The way to trade doesn't have to be complicated.
1). Know what kind of market you're in (Bull, Bear) and what context are you trading (uptrend, downtrend, range trading).
2). Where are the important moving averages located right now
3). Understand fibonacci extension and retracement tools and what they mean
4.) Are we in an oversold, overbought market?
5.) What are some interesting price areas and risk/rewards
Your chart should not look like a treasure map and we need a legend to understand how to read it. Just because you have a million trend lines and it's all colorful doesn't mean you understand TA. In fact your chart should look clean and simple.
Trade active:
6.) Never EVER lose more than 1-2% capital per trade.