Your job is not to predict where the market will go next. Yo | DEFEED sur Binance Square

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Your job is not to predict where the market will go next.
Your job is to think in probabilities and make good trades.

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Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.

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Utility of Meme Coins Murad, a Twitter user often regarded as a Jedi of the meme coin supercycle, has proposed a theory on the utility and benefits of meme coins. Murad, known for his notable posts and his strategic purchase of BTC at the bottom in 2022, describes how meme coins fulfill various modern human needs. Here, I will delve into some subpoints and compare meme coins with technological tokens. Utility of Meme Coins: 🎉 Having Fun: Meme coins offer an enjoyable experience for users. 🤝 Reducing Loneliness: They provide a sense of community and reduce feelings of isolation. 🧑‍🤝‍🧑 Finding Identity and Like-Minded People: Users can find their identity and connect with others who share similar views. 💰 Gaining Hope: Many holders unite around the mission of getting rich from a single meme coin or achieving a specific goal. For example, some crypto enthusiasts held onto large amounts of dogecoin, driven by the hope of it reaching $1, with 69 cents being unsatisfactory. 👫 Making Friends: Meme coins facilitate the formation of friendships.

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In 2016, I created a list of 21 cryptocurrency trading rules for myself, and I'd like to share them with you. 1. Understand the market cycle and trader emotions. 2. Avoid trading when you’re tired. 3. Don’t trade out of frustration. 4. Avoid trading when you’re stressed. 5. If you're tired, frustrated, or stressed, switch to fiat the next day and get some rest. You'll come back with a clear head. 6. If you're losing sleep over your trades, reduce your positions until you can sleep well. 7. Always check the charts before considering news, speculation, or hype. 8. If you rely on news for trading, you're behind. Focus on thorough analysis. 9. Sell at resistance to secure profits. Aim for 2-3% before resistance. 10. Buy at support to prepare for the next upward wave. 11. Guaranteed profits are better than potential ones. Sell when your unrealized profit is green and avoid recalculating gains. 12. Never panic buy or sell altcoins. They often retest support/resistance levels.

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8 Tips to Avoid Liquidations 1. Think Independently: For real growth, use your own judgment and avoid relying on TVX or outside help. 2. Avoid High Leverage: Chasing 50x leverage is not the only path to success. Aim for small, consistent profits and wait for the next high R/R opportunity. 3. Recognize Your Position: Understand that you are at the bottom of the "food chain," so don't get caught up in the hype. 4. Analyze Before Acting: Before entering or exiting a position, assess whether it’s a good R/R opportunity or if the HTF trend is already saturated. 5. Adapt to Trends: Like a chameleon, be ready to change your stance when trends shift. Avoid being rigid in your beliefs or desires. 6. Evaluate Your Profits: When you profit, determine if it was luck or skill. Overestimating your abilities can lead to poor financial decisions. 7. Market Sentiment: If your urge to sell is stronger than your urge to buy, the bottom might be near, and vice versa. 8. Wait for Confirmation: Wait for HTF to close above key SHS/SL levels with candle bodies before making your next move.

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Cryptocurrency Market Overview Monday, July 22, 2024 Bitcoin traded between $65.8K and $68.5K over the past 24 hours. Market Capitalization: $2.42 trillion Dominance Index: 55.38% Last night, news broke that Biden has withdrawn from the election campaign. This decision was anticipated since winter (before the failed debates and the assassination attempt on Trump), so it was expected. However, let's focus on the market's reaction. Upon the announcement of Biden's withdrawal, Bitcoin dropped below $66.0K. However, the dip was quickly bought up, followed by a rise to a new local high above $68.4K. Why did this happen? The market views Trump's election as a positive outcome. When Biden was Trump's opponent, the election result seemed predetermined. Biden's withdrawal was initially negative for the market as it opened the possibility of a stronger candidate opposing Trump. However, when it became clear that Kamala Harris would be the new opponent, markets regained optimism, believing she stands little chance against Trump. Any potential fraud would likely only affect the results marginally, with Trump's team prepared to counteract such attempts. For now, Kamala Harris is the candidate, as confirmed by the Federal Election Commission. Stock Markets opened positively with S&P 500 futures slightly up, 10-year bond yields falling, and the dollar index marginally decreasing but still above 104. Major Events of the Week 🔹 Tech Giant Earnings Reports on June 23-24. These are expected to cause significant market movements. 🔹 Labor Market Data on Thursday and Inflation Expectations on Friday. 🔹 Key Date for the Crypto Market: July 23, when ETH-ETF trading begins. Different scenarios are possible for the ETH-ETF launch. Given the lack of significant growth expectations, it could turn out quite well. Elon Musk is also expected to speak. Notably, altcoins are significantly undervalued. Bitcoin trading within a range with a lower boundary at $66.2K - $65.5K and an upper boundary at $68.5K - $68.7K. An alternative scenario is consolidation above $68.7K.

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If you are worried about a downturn, expect it to happen. If you are overwhelmed by market volatility, reduce your positions. If you are pleased with the growth, secure your profits. If you feel FOMO, step away from the screen for an hour and reassess the situation. Good morning, friends! Have a great week!❤️

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