Its Alright!

So, BTC dropped 10K in 2 days?! Big Deal? NOT! It is no big deal. You say that is 10-12% downward move in 2 days. It is much more in many other alt-coins! Hive was down 50% at one point in time you say!! It okay! No need to panic. This is normal stuff in crypto. Looking at BTC, I must say this is a good thing. I wish there is a bit more correction. Folks, nothing goes straight up. All markets must correct, allow people to sell, new people to buy. This is the way financial market work.

And no! Universe is not testing you! :) And do, you are not failing either! :)

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Here is the 2 down days on BTC/USD. On some places people are acting like the sky is falling! Yet, people are lot letting the damn thing fall properly. The lows are bought already and the price is still $7000 above the 50 EMA! Seriously! Yes, let me repeat, the price is BTC is $7000 above its 50-day exponential moving average (the magenta line on the chart above). That also nicely coincides with its previous high of around $41000. Please let it get down to at least that!

There is a reaction low of late Jan 2021 when it previously touched its EMA at $29000. It doubled if you managed an entry there. So sit tight, relax and enjoy the ride. If BTC gets oversold on an uptrend (stochastic gets to 20), it will be a major buying opportunity and the whole world will be buying, but please let it get to a 'reasonable' price.

If there is a deep correction for the summer, we can test 29K and 20K. These are all reasonable buying opportunities.

On a different note; I had a buy order on BNB. Yesterday it got filled. I will be stacking some pancake with it. I will update on that as soon as I get that done. Leter!

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

Charts are created in Tradingview.com, which is a free service.

Posted Using LeoFinance ^Beta