In this post I'll give you a very detailed answer to this important question...
Read this till the end!đ
This is how mania phase looked like in 2021 at the market top:
Coinbase was Nr. 1 in the app store
It was normal to see Altcoins 10x in a month
Nobody saw ANY risks anymore
People who you haven't talked to in years suddenly started asking you about crypto (if these kinds of people aka "dumb
money" are interested in crypto all of asudden, ask yourself: who is left to buy?) Cult-like crypto communities
If you were bearish you'd be laughed at
Dog coins were pumping like crazy (not
only $DOGE or $SHIBA) but also the
craziest & funniest dog coin names you
have ever heard!
Unrealistic price targets were being
thrown around (1 million per $BTC etc)
Songs were being made about crypto
Celebrities getting involved in crypto
In the news you'd only see the M0ST
BULLISH NEWS (for example last market
top it was the Coinbase IPO & El Salvador
making legal tender)
People flexing with their cars & watches
online after making millions in crypto
"History doesn't repeat itself, but it often
rhymes".
This statement is perfectly true in this
case!
We'll most likely see similar warning signs
to the ones I just presented to you at the
We'll most likely see similar warning signs
to the ones I just presented to you at the
next major market cycle top.
You might ask yourself right now: "But
aren't we seeing a few of these warning
signs already'"?
Well, partially yes.
However, Altcoins are clearly NOT in the
euphoria stage yet!
Keep in mind, TOTAL 2 (Crypto Total
Market Cap Excluding $BTC) hasn't even
made new all time highs this cycle.
The best is still yet to come for Altcoins!
I'm expecting a top for this index
somewhere between $2-7 Trillion.
Along with technical indicators & price
action, which I use to my advantage, that's
when you get out of your altcoins!
Lower highs & lower lows
Trendlines/patterns broken to the
downside
RSI/MACD bearish divergences
OBig candle wicks to the upside
Bearish engulfing candles
Decreasing volume with rising price
The more bearish technical indicators like
this you'l see in confluence on the weekly
or daily timeframe, the higher the
likelihood that you'll need to take profits!
Do not ignore these signs & think this time Is different!
Do not get caught up in the hype. If I see these kinds of signs I will ABSOLUTELY be taking profits!
Another interesting indicator I'l be paying$BTC close attention to is the Pi Cycle Top indicator.
This indicator has predicted EVERY $BTC market cycle top in the past with crazy accuracy.
Profit taking is one of the most important skills you need to master in crypto.
If these post is helpful for you. Please give me tip.
