First of all i must say that i didn't see this dump incoming.. i try to learn and master TA since 7 months and i am still a beginner so just keep in mind that this is just an idea and nothing more from myself. $BTC broke my idea of the fibonacci retracement
level 1 + weak support line.. volume
is increasing a bit but way to less in my mind to hold or even push from this strong dump. weekly(!) and daily RSI
is oversold so it could mean that we could maybe see some kind of "crazy" rally in short term but for the next months i see now a retracement but this correction is more than okay. i will deffo wait for the upcoming days and weeks because i see the next stronger support on the next fibonacci retracement
level (1.618) but there is also enough space for some more rallys.. for long term i would say that we will be soon in an accumulation phase until ~ late March/early April and maybe at the bottom, the one or other altcoin will move vs $BTC stronger again.
Don't forget about:
- Risk Management
- Don't panic at dumps like these
- Learn from it to master further moves
- Don't trade with your main money -> write down your trades you wanted to make -> learn from them
- You lost actually nothing when you #1 were only investing which you can afford to loose #2 didn't sell anything in minus to fiat
I am a total crypto and blockchain enthusiast and that's why i already see Bitcoin
knocking on +30-60k approximately in the middle of the current year.