In today's video we share our analysis for the high probability of a wider market crash in cryptocurrencies.
For our own portfolio this means that we are looking to secure some profits and position ourselves to take advantage of any discounted levels that present themselves.
Let us know your thoughts in the comments.
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This trade idea has played out superbly so far... I hope lots of you guys have been able to make some money from this
Very impressive. I'll be looking to subscribe to your service. I've been in a few years to while I've lost a fair chunk of profit, I'm ok with it and I'm optimistic for the future. That said, would have been wise to take more profit at the point you recommend.
JoelWarby
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@adamrudd23, Look forward to having you on board
Tez8
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Congratulations on calling this one. You are clearing worth your salt!
JoelWarby
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@Tez8, Thanks for you kind words. Hopefully the call helped some people
daviebee
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Hi Joel,
First of all, many thanks for the videos and analysis you provide which, being new to this game, I have found clear and informative. With regard to this particular post, I was wondering if you have any thoughts on the following -
1. Were you expecting the crash/correction to be as severe as it was (BTC almost touched 30k shortly before writing this) or did this exceed your expectations ?
2. What key information will you be looking at to determine if we've hit the bottom ? I ask this having been stopped out several times on the way down (I don't claim to be a genius).
Sorry to hear about the losses, but I see you have done the right thing afterwards by looking to learn.
Yes, as you may have noticed in the video we made a point of saying that this could be a significant correction. At the moment we are only one bad headline away from breaking 30k.
We could go lower.
As noted in this video a large part of this prediction was made from market sentiment... at the top of the market too many people were buying crypto purely to make money. They didn’t know what the coins they were buying actually did, they just brought them to sell them higher.
Equally a good place to start buying is when you start to notice people acting irrationally with fear of more losses.
It’s the same in any market, crypto... stocks... forex... “Sell into greed and buy into fear” 👌
I teach all of this and more, but unfortunately don’t teach it for free on here. 😅
daviebee
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@JoelWarby, thanks for your thoughts, much appreciated.
razuman
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I bet you weren't expecting to nail this on the head so much. Basically tanked the same day you posted the video. If we close below 20 EMA on the weekly, 38K is next.
JoelWarby
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@razuman, If i'm right with my analysis I expect that this is just the beginning and you might be close with 38K
razuman
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@JoelWarby, I think it's a real possibility. But definitely think that some more pain is installed in the next 3-4 days - the 100 D EMA seems to be very reactive and price can't even get close to it, let alone close above. So we will test the 20 W EMA. If it holds - up. If doesn't to 38K we go - 200 D EMA.