Many negative posts due to the drop in its price, but it is something that happens frequently in cryptos that have been on the market for a short time and have supply to unlock.
Its price has now almost found a balance between its capitalization and its supply.
This means that even if the remaining supply is unlocked, its price will not see a significant drop. At this moment, its capitalization is the only one capable of generating real impacts. Do the math and you will realize.
I cannot assure you that it will rise dramatically, but neither will it fall dramatically. Most likely, it will be within a huge range where the rise is more than the fall.
After trying everything with this market, I finally understand that the only way to be profitable and avoid stress is the following:
Wait for the market to fall enough when you see posts that say: the world is over, the end has come, everything is a scam, bubble. Then, BUY!
But do not buy unconsciously, follow this simple rule:
All your positions, taking into account that Crypto can lose 100% of its value, must be less than your balance.
Example: If you have a balance of 100 dollars, you open a position and the Crypto loses 100%, the maximum that should be possible to lose should be 90 - 95 dollars.
Follow this with the positions and set a goal, with this it is practically impossible to lose and you will be able to live peacefully. Capitalize your account and it will become easier and more profitable each time.
The last time it peaked it had a correction of about 22%. The sentiment is bullish but there could be a smaller correction of between 10 and 14% or at least that's how I see it.
If you want to go long, do it, but avoid high risks or you could get trapped for a while, the direction is bullish, although there is always room for corrections.
He's trapped me since 1.05, but I'm not going to give him the pleasure of finishing me off.
I have everything under control with a hedge position and I am not going to close the short until I see it underground, and if it wants to go up to infinity it will liquidate me positively.
The game is 2 and I am not the one who is going to lose đ
I don't know what to think specifically about this Crypto right now. However, it looks bullish, from the view of the 1-week chart.
It has surpassed the 0.786 Fibonacci level with a cup and handle pattern. Indicating that he could continue his path and mark a new record.
Observe carefully and measure your risk. Do the analysis that is necessary for your positions and establish your Stop Loss or you will be trapped with your positions as happened to me.
New update for those who have been following or will continue to follow my posts.
In the last post I commented that I was operating in the Margin account, saying that I had recovered the amount of my deposit and had obtained a little profit.
After that post I was trading for a while longer and due to bad decisions I had losses, not considerable, but at the end of the day, losses.
Still, I decided to continue testing and transferred what I kept and an additional $3 from a coupon I got as a reward, to the futures account.
I share my results from these days in images, and I confirm that it is possible to win. Do not take into account the quantity but the results, after all, they are just study tests.
It's all about taking the time to observe, analyze and learn. And in this matter of operating, the quantity of the operations does not matter but the quality.
If you saw my previous posts you will know that the last time I had left $15 in my account, I withdrew this a few days later to reorganize some things and I stayed away from the market after having lost $10 when trading spot.
This week I deposited ~$11.9 again into the account, which I transferred to the Margin Cross section.
The first day, as expected, there were losses. However, I took away some learnings. I changed the way I operated and took the time to observe, here are the results.
$BNB It approached its normal levels before the big drop.
It could be testing the resistance at 580 again and fluctuating between it and 620 as it usually did, waiting for what happens with $BTC if it goes down, it could be testing 540.
After a few weeks testing the market with a small investment, I have taken away several learnings and losses.
It started at around $70 and went down to about $60, nothing significant. However it could have been different if I had done the work to investigate this a little more thoroughly. Still, I quickly understood that my mentality was not appropriate and I ceased my activities, a timely exit since right after that the market collapsed.
I leave you below some of the things I noticed about my behavior and the market after trading.
- I gave in to fear when I saw the red candles and looked for the sell button immediately. Clearly the declines ended up recovering.
- I gave in to greed when I saw that I was winning.
- The market tests your patience at every moment. (The typical moment when you buy and the price goes down and when you sell and the price goes up)
- The market tests your greed. (The impulse to put more into play than you should when you think it's a good opportunity)
Taking the above into account, I made the decision to withdraw most of the capital, now I am at $15 and I plan to use it to test trading taking into account the above described. In addition, rather than focusing on profits, I will try to accumulate currency positions.
$PEPE Enthusiasts of this coin see it reaching $1 in valuation.
Personally, I believe that this currency will be a trend and will capture a large part of the market, however a valuation of $1 or even $0.1 sounds crazy considering that the supply covers more than 400T, considering that, it is more like a dream than a possibility. Even so, if taken on the right path it will prevail and its idealistic condition will gradually fade.