Here are 12 key terms every crypto trader should be familiar with:

Cryptocurrency:

Digital or virtual currencies that use cryptography for secure transactions.

Bockchain:

A decentralized and distributed digital ledger that records all transactions across a network.

Wallet:

A digital tool that allows you to store, send, and receive cryptocurrencies.

Exchange:

An online platform where you can buy, sell and trade cryptocurrencies.

Market Cap:

The total value of a cryptocurrency calculated by multiplying its current price by its total circulating supply.

Volatility:

The degree of price fluctuation in a cryptocurrency which can impact trading decisions.

Bull Market:

A period of rising prices and positive market sentiment.

Bear Market:

A period of declining prices and negative market sentiment.

FOMO (Fear of Missing Out):

The fear of missing out on potential profits which can influence trading behavior.

FUD (Fear, Uncertainty, Doubt):

Negative information or rumors that can create uncertainty and drive down prices.

HODL:

A term derived from a typo of "hold," meaning to keep and not sell your cryptocurrencies despite market fluctuations.

Altcoin:

Any cryptocurrency other than Bitcoin, which is often used to refer to newer or alternative coins.

These terms will help you navigate the world of crypto trading more effectively.

Leverage in crypto trading refers to using borrowed funds from a cryptocurrency exchange or broker to increase the size of your trading position. It allows traders to amplify their potential profits as well as their losses. For example

If you use 2x leverage it means you can control double the amount of cryptocurrency with the same initial investment. However it also increases the risk as losses are magnified and you may be required to maintain a minimum margin to keep the position open. It's essential to use leverage cautiously and be aware of the potential risks involved.

The psychology of market cycles refers to the emotional and behavioral patterns that investors and traders exhibit as financial markets go through various phases of expansion, peak, contraction and trough.

These market cycles are often driven by economic conditions, investor sentiment and various external factors. Understanding the psychology of market cycles can help investors make more informed decisions and manage their emotions effectively during periods of market volatility.

Here are some key psychological aspects of market cycles:

Boom (Expansion) Phase:

Euphoria:

During the early stages of an expansion phase, market participants may feel optimistic and confident. As asset prices rise investors experience a sense of euphoria, believing that the good times will continue indefinitely. Fear of missing out (FOMO) can drive more people into the market leading to further price increases.

Overconfidence:

As the bull market continues, investors may become increasingly overconfident in their abilities to pick winning investments. This can lead to higher risk-taking behavior and an underestimation of potential downside risks.

Peak (Transition) Phase:

Greed:

As asset prices reach their highest points greed becomes more prevalent among investors. People may chase after quick profits and ignore warning signs or fundamental analysis, leading to speculative bubbles in certain assets.

Fear of Missing Out (FOMO) at its Peak: Fear of Missing Out which was present in the expansion phase reaches its peak during this phase. Investors may rush to invest before the market tops out driven by the fear of being left out of potential gains.

Herd Mentality:

Investors tend to follow the crowd during this phase assuming that others' actions are based on superior knowledge. This herd mentality can amplify market movements.

Bust (Contraction) Phase:

Panic: As markets start to decline fear and panic set in. Investors may feel overwhelmed and rush to sell their investments exacerbating the downward movement of asset prices.

Loss Aversion: Investors become increasingly sensitive to losses during market contractions often leading them to prioritize avoiding losses over potential gains.

Confirmation Bias: People may search for information that confirms their preexisting beliefs or biases even if those beliefs are detrimental to their financial well-being. This can hinder their ability to objectively assess the situation and make rational decisions.

Trough (Recovery) Phase:

Despondency: In the trough phase, investor sentiment is generally negative, and there is a lack of confidence in the market. Some investors may feel despondent and avoid the market altogether.

Opportunity Perception: Contrarian investors might start seeing opportunities during this phase as assets are often undervalued relative to their long-term potential.

Selective Attention: Investors may focus on positive news and developments, filtering out negative information that could challenge their hopeful outlook.

Non-Fungible Tokens (NFTs) were gaining significant popularity as a way to buy, sell and trade unique digital assets on blockchain platforms.

While the NFT space has likely evolved since then, here are some general strategies that were relevant at the time for potentially making money from NFTs:

Create and Sell NFTs:

If you're an artist, musician, writer or content creator, you can mint your digital creations as NFTs and list them for sale on NFT marketplaces like OpenSea, Rarible or SuperRare.

When someone buys your NFT, you receive a percentage of the sale, often referred to as "royalties," every time the NFT changes hands in the future.

Invest in NFTs:

Like any other market, some NFTs gain significant value over time due to their uniqueness, rarity and demand. People speculate on certain NFTs, hoping their value will increase. Research and select NFTs that have potential in the long run, but keep in mind that NFT markets can be highly speculative and volatile.

Participate in NFT Drops:

Many projects and creators conduct NFT drops, where they release a limited number of NFTs at a specific time and price. Participating in popular drops can be challenging due to high demand but it can lead to quick profits if you manage to get in on the action.

Flip NFTs:

Similar to investing, you can buy NFTs at a lower price and then sell them at a higher price. This approach requires market knowledge and good timing to identify undervalued NFTs and predict potential price increases.

Rare Collectibles:

Look for NFTs that represent rare collectible items, digital cards or historical moments. Collectibles with strong historical or cultural significance often attract collectors and enthusiasts willing to pay a premium.

NFT Staking and Farming:

Some NFT projects allow you to stake or farm NFTs to earn additional tokens or rewards. This can be a way to generate passive income if the project's token has value.

Remember that the NFT market is speculative and can be highly unpredictable.

Price needs to test 28.4k area, It will be a very bullish retrace and then you can look for a quick upside expanding wedge out,

So after we get this completed wash out, am looking for a quick bounce back up, i would expect a quick down wick to 28.4k range and then a quick upside would be an ideal cuz it'll steal all the liquidity from all the people buying long at the current level which is 29.2 and reversing at their face as they get cleaned out and that's kinda how the market gathers its fuel.

So you can't really be upset about it that really how it all works.

On 4 hour you can see that its coming off oversold condition, first stop is 29,350, if you can claim above it on a 4 hour open and close,

we will look for 29.6k-29.8k and then i would like to see rejection from 29.8k that would have us ping pong to the low,

if we hold the low again the next time we'll break throw, and if we can't hold the low then we can bust down the low and look for that 28.3k.

That's what I'm expecting.

Elon Musk has been known for his tweets and comments about Dogecoin, which used to manipulate crypto market specially doge.

He has often tweeted about Dogecoin in a lighthearted and playful manner, which has led to increased attention and interest in Doge. Recently he mentioned doge logo in his twitter bio which caused doge price pump.

It's important to note that while Elon Musk's tweets can influence the short-term movements of Dogecoin. But the value and viability of cryptocurrencies are subject to various factors including market sentiment, adoption, technological developments and regulatory considerations.

As with any investment or financial decision, it's crucial to conduct thorough research and consider your risk tolerance before getting involved in cryptocurrency or any other speculative assets.

Don't Fomo and always #DYOR

Bockchain is a decentralized and distributed digital ledger technology that allows secure and transparent recording of transactions across multiple parties. It gained significant popularity with the advent of cryptocurrencies like Bitcoin but its applications extend far beyond that finding use in various industries.

Here are the basics of blockchain:

Decentralization:

Unlike traditional centralized systems where a single entity has control over data and transactions. Blockchain operates on a network of computers (nodes). Each node has a copy of the entire blockchain and making it decentralized.

Distributed Ledger: The blockchain is a chronological chain of blocks, where each block contains a list of transactions. These blocks are linked together using cryptographic techniques for creating an immutable and tamper-resistant ledger.

Consensus Mechanism: To add a new block to the chain, consensus among the network nodes is required. Various consensus algorithms like Proof of Work (PoW) and Proof of Stake (PoS) ensure agreement on the validity of transactions and prevent double-spending.

Transactions: Transactions are the fundamental units of data in a blockchain. They contain information about the sender, receiver and the amount transferred. Transactions are grouped into blocks and when added to the blockchain they become a permanent part of the ledger.

Cryptocurrency: While not exclusive to blockchain, many blockchains have their native cryptocurrencies (e.g., Bitcoin, Ether) that incentivize miners or validators for securing the network and validating transactions.

Use Cases: Blockchain has applications in various industries beyond cryptocurrencies including supply chain management, healthcare, voting systems, identity management, finance and more.

Decentralized AI Marketplaces: Blockchain can create secure, transparent and decentralized marketplaces for AI services. This fosters a global ecosystem where AI developers can offer their models and users can access and utilize AI functionalities without intermediaries.

The combination of AI and Blockchain represents a powerful convergence of intelligence and trust. As this synergy continues to develop, it holds the potential to revolutionize various sectors from healthcare and finance to supply chain management and governance.