I am noticing a lot of bottoming signals in cryptocurrencies, not just IOTA. Like everyone else, I have no idea if we bottomed, when we will, or if we have. These signals could be medium term, so it does not mean we are out of the woods yet. What it does mean is rather simple. If these levels I'm seeing are taken out, namely bitcoin at 7600 - 7900, I would bet we are going to reach very low prices across the board. In any case, back to IOTA - it is a LONG in this area and a long as low at 98 cents. Anything under it is not.
For the record, I am a believer that we are possibly in a bear market (we clearly are short term, but I am talking about a 12 - 18 month bear market). I believe it is necessary to see crypto in an environment where the majority of people are too scared to place their bets to see a sustainable continuation of obscene returns. I want to see volatility go down substantially, as well as the public interest, just like it was in 2015 when I bought my first bitcoin. The interesting thing about markets is we rarely get what we want, but more likely to get exactly what we want if we wait patiently enough.
P.S. Capital preservation is a lot more important than making money at this phase of the market. There will be many more opportunities.
For the record, I am a believer that we are possibly in a bear market (we clearly are short term, but I am talking about a 12 - 18 month bear market). I believe it is necessary to see crypto in an environment where the majority of people are too scared to place their bets to see a sustainable continuation of obscene returns. I want to see volatility go down substantially, as well as the public interest, just like it was in 2015 when I bought my first bitcoin. The interesting thing about markets is we rarely get what we want, but more likely to get exactly what we want if we wait patiently enough.
P.S. Capital preservation is a lot more important than making money at this phase of the market. There will be many more opportunities.
Trade closed: target reached:
@ 1.45