Bitcoin & Crypto Update!
- Today we saw a big reversal in the crypto market. This can potentially be a dead cat bounce after a massive fall in the markets. Luckily I posted a warning for everyone following me that when the H&S broke to get out! and to take profit.
- This is why dollar-cost averaging in and out of crypto is so important. You can make massive profits during a bull run and then a few days later have a huge correction and lose all of the profits. Signs of a correction are when - everyone around you is talking about crypto ( including your MoM/Dad, when you go out to eat ect and when MEME coins are pumping.) Also when you see bearish patterns and volume dropping off. Also, you will be feeling euphoria that your investments just keep going up forever. Then it starts to crash and before you even know it all of the profits are gone and you are left wondering what to do.
- During crashes, Bitcoin will decline the least while Alt coins will take the largest hit. This is why portfolio diversification is so important and to hold most in the “bluechip” cryptocurrencies. This includes BTC (Largest), ETH (Second), ADA, XRP, and DOT to name a few of the large market cap cryptos. I also always hold a bit of a stable coin or USD (Third) for opportunities and also a hedge.
- DCA OUT when the Greed Index is high/bearish pattern/overbought! DCA IN when the Fear index is Low/bullish pattern/oversold!
- Currently, these markets are based on hype, media, and tweets. Important to spread your money out and not have 100% in crypto, a popular slow-moving option is silver which I mentioned before. You can also look for more stable blue-chip stocks etc ect/ And above all start COMPOUNDING YOUR MONEY! There are many good options. This is how you build WEALTH.
- As much as we want crypto to continue higher and higher forever we know as traders that is impossible. Currently, I have started to DCA back in during our major major dips (BTC 30K & alts when BTC was at that level resulting in significant gains) as I posted earlier in chat. I want to make it clear we can also see another drop after this short-term rally which will bring us to these price targets I have. Remember these are targets that may not hit exactly but will bring us close. I have cash available for moments like these.
BTC 20-25K
ETH 1250-1500
ADA .75-.9
VET .5-.3
DOT 7-10
UNI 5-8
XRP .4-.5
- Most of the altcoins are forming falling wedges with a chance to fall more with Bitcoin, this will give us another opportunity. Even with this in mind, I will continue to hold my BTC / ETH / ADA (Some small alt positions) I bought during the last crash and I will look to add again to my portfolio if we have another crash.
- Now is still time to be cautious especially with altcoins which can crash double-digits again. That's why you need to have some stable coin/cash for opportunities. I will start flipping bullish again if we can start making higher lows / break major resistance at 42-45K which if broken we can continue higher. If not we can see another leg down.
- Also, another note is that this happens EVERY YEAR IN CRYPTO, China FUD, Banning crypto, Environment pollution, Next BTC, next ETH, ect ect, I am still in Crypto for the long term and I predict in the future BTC / ETH / SOME alts will break their ATH once again as they always do. This is my trading plan going forward which has always worked for me in crypto.
- The end goal is 250K - 1 Million staking in a stable coin earning 12-20% APY per year which will be earning you $30,000 - $200,000 passive every year. DONE.
- Remember this: Start of Bull Run:
- Hold the most BTC > BTC runs to insane highs then starts stabilizing > Take some cash out of BTC and put into blue-chip alts and some small high-risk alts > Alts go crazy DCA your way out either back into BTC or USD. Use that money for investing into high APY stable coins/silver/stocks or more BTC/ETH. BTC starts to fall start DCA out of BTC / alts. BTC starts looking for support areas > Start to DCA your way back into BTC / Bluechip Alts / Small alts you believe in (Happening now). If there is a Bear Market = Accumulate for the next cycle.
- Today we saw a big reversal in the crypto market. This can potentially be a dead cat bounce after a massive fall in the markets. Luckily I posted a warning for everyone following me that when the H&S broke to get out! and to take profit.
- This is why dollar-cost averaging in and out of crypto is so important. You can make massive profits during a bull run and then a few days later have a huge correction and lose all of the profits. Signs of a correction are when - everyone around you is talking about crypto ( including your MoM/Dad, when you go out to eat ect and when MEME coins are pumping.) Also when you see bearish patterns and volume dropping off. Also, you will be feeling euphoria that your investments just keep going up forever. Then it starts to crash and before you even know it all of the profits are gone and you are left wondering what to do.
- During crashes, Bitcoin will decline the least while Alt coins will take the largest hit. This is why portfolio diversification is so important and to hold most in the “bluechip” cryptocurrencies. This includes BTC (Largest), ETH (Second), ADA, XRP, and DOT to name a few of the large market cap cryptos. I also always hold a bit of a stable coin or USD (Third) for opportunities and also a hedge.
- DCA OUT when the Greed Index is high/bearish pattern/overbought! DCA IN when the Fear index is Low/bullish pattern/oversold!
- Currently, these markets are based on hype, media, and tweets. Important to spread your money out and not have 100% in crypto, a popular slow-moving option is silver which I mentioned before. You can also look for more stable blue-chip stocks etc ect/ And above all start COMPOUNDING YOUR MONEY! There are many good options. This is how you build WEALTH.
- As much as we want crypto to continue higher and higher forever we know as traders that is impossible. Currently, I have started to DCA back in during our major major dips (BTC 30K & alts when BTC was at that level resulting in significant gains) as I posted earlier in chat. I want to make it clear we can also see another drop after this short-term rally which will bring us to these price targets I have. Remember these are targets that may not hit exactly but will bring us close. I have cash available for moments like these.
BTC 20-25K
ETH 1250-1500
ADA .75-.9
VET .5-.3
DOT 7-10
UNI 5-8
XRP .4-.5
- Most of the altcoins are forming falling wedges with a chance to fall more with Bitcoin, this will give us another opportunity. Even with this in mind, I will continue to hold my BTC / ETH / ADA (Some small alt positions) I bought during the last crash and I will look to add again to my portfolio if we have another crash.
- Now is still time to be cautious especially with altcoins which can crash double-digits again. That's why you need to have some stable coin/cash for opportunities. I will start flipping bullish again if we can start making higher lows / break major resistance at 42-45K which if broken we can continue higher. If not we can see another leg down.
- Also, another note is that this happens EVERY YEAR IN CRYPTO, China FUD, Banning crypto, Environment pollution, Next BTC, next ETH, ect ect, I am still in Crypto for the long term and I predict in the future BTC / ETH / SOME alts will break their ATH once again as they always do. This is my trading plan going forward which has always worked for me in crypto.
- The end goal is 250K - 1 Million staking in a stable coin earning 12-20% APY per year which will be earning you $30,000 - $200,000 passive every year. DONE.
- Remember this: Start of Bull Run:
- Hold the most BTC > BTC runs to insane highs then starts stabilizing > Take some cash out of BTC and put into blue-chip alts and some small high-risk alts > Alts go crazy DCA your way out either back into BTC or USD. Use that money for investing into high APY stable coins/silver/stocks or more BTC/ETH. BTC starts to fall start DCA out of BTC / alts. BTC starts looking for support areas > Start to DCA your way back into BTC / Bluechip Alts / Small alts you believe in (Happening now). If there is a Bear Market = Accumulate for the next cycle.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.