Buckle Up, We're Taking Off! Or Not?
Since the last crash, I've been watching the market, hoping to see the move I wanted. Analysts usually have two scenarios and it's a no brainer that one is up, the other is down. There is always an IF in the middle though. Support levels are crucial.
Saturday morning it seemed like the bottom for now, but seems and is are two words with a totally different meaning, which in the crypto world could mean the difference between win and loss. Buying the right coins the wrong time could ruin you in minutes.
One of the scenarios were if BTC loses the support level, we're going to the $20k region. Buying at $35k and landing at $20k means a 43%, which obviously no one wants. Stop loss can save you, but losing 5 - 10% each time you make the wrong call can also ruin you very fast.
In one hour BTC jumped from around $36k to $37.3k. This is the move we've been waiting for, however, a retest is needed in order to be sue it's the right direction.
The whole jump happened roughly one hour ago and in the same time, our friend Elon tweeted.
I'm not a fan of conspiracy theories and don't really like to speculate, but it looks like the two events are connected.
History has the habit of repeating itself and Elon is always Tweeting. While this is the move we've been waiting for, the reason why it happened should have been another.
The whole thing looks like a cheap comedy and people are sick of it, including me, but there's little we can do about Elon and people unfortunately are easy to manipulate. Fear is a powerful tool and if you know how to use it, you may get somewhere. The only thing we can do here is play what we're given.
After all the drama caused by the recent crashes a good period of green would be nice though. Going to bed knowing your portfolio is up 20% already and waking up seeing you've been stopped out is not what I'm looking for.
So what do you think? Are we taking off now or this is a dead cat bounce?
Join me at Bybit and get $10 bonus in BTC! Plus, up to $600 worth of rewards await in your Bybit Rewards Hub. Get started with my referral code: m3yjA https://www.bybit.com/en-US/invite?ref=m3yjA
Posted Using LeoFinance Beta
