Will it finally breakup?
Will it loss support and go down?
Based on past history each time Bitcoin peaked the reaction was very fast, clear and strong... Today, the market changed... We can see Bitcoin consolidating near the top, meaning, sideways action.
When Bitcoin goes sideways the altcoins grow.
We continue to see the Altcoins market going positively crazy, it has been happening since late 2020 and it will continue for many months.
I know it was hard to believe me in the past, specially in a bear market when all the prices were low.
But now, we have incredible growth across all markets... Remember, this phase will last for years... Make sure to take your time to plan in order to maximize profits.
Back to Bitcoin
Up or down?
We are likely to get more sideways action ( consolidation) for Bitcoin .
The thing is that a very wide range is now active.
It is easy for the market makers, the whales, miners, and manipulators to extract money from the impatient masses with this range.
Bitcoin can drop strong to $40,000 and still be strong and bounce back up.
While this is nothing for strong hands, it is the end for the weak ones.
So you can see this range being played out, $38,000 to $60,000 until the altcoins complete a short-term wave.
Another Bitcoin wave can follow and then back to the altcoins... That's the game.
Let's simplify it.
We are in a market in the long-term cycle, that's as simple as it gets.
Just as we saw Bitcoin and the Altcoins dropping for years, we will see them grow for years.
We will be seeing higher highs and higher lows.
That's the thing.
As long as this is true... We just sit back, relax and enjoy the profits as the market grows.
When to sell?
ALTCOINS: This will depend on your trading style, your capital, your goals, etc.
Some strategies call for holding long-term.
Other strategies suggest selling a portion at each target and joining new trades, etc.
We sell at resistance when prices move up.
We buy at support after prices drop.
I normally sell small portion of my altcoins when I see strong growth.
I normally buy new pairs when prices correct and consolidate around support... Repeat this process to grow your capital as much as you want.
BITCOIN: Accumulate more and more and more.
Only sell when you need to secure profits or need capital for anything else that you need money for but... Keep your Bitcoin's long-term, better yet, adapt to whatever your strategy calls for.
We look for wealth/richness/money to increase our life comfort and to have more time for meditation, relaxation, good vibes, good people, peace & love.
Thanks a lot for reading.
Leave us a comment with your thoughts.