If you haven't gotten REKT and still have some Fiat ;)
Updated
Dear Traders
-We have hit our 2nd bottom (almost) which has held so far
-Last time we hit this low was during the dump in late 2018/early 2019
-A complete retracement since the last bottom on the daily chart - a rare sight
-Might be wise to open a long at current levels and look at the skies
Just a Note:
- We are still dependent on the global economic situation and LIQUIDITY is king.
- We can be reasonably sure to ascertain that covid-19 has led to a massive liquidity drawout with people hoarding cash over tanking assets
- If things become worse - we can expect a drop to mid 80s so keep some dry powder for those levels
Yes, technicals are great but as a general advice, it would be wise to keep significant holdings you have in CASH/LIQUIDITY as BTC/ETH are STILL NOT PROVEN STORE OF VALUE (the dump over the last few days should make that clear)
If the world goes to shit, unfortunately legacy currency ( USD/GBP etc) will still help you get food and not crypto
I think the halving bottom and coronavirus could not have come at a better timing and that liquidity will soon be capitalized and flow in to both legacy and crypot markets, once the covid situation settles down
PS: I am in a 5x leverage long since 98 and targeting 280 and 360 + over the next few months (around May maybe) ;)
PPS: ETH below 50 and I personally believe that the crypto industry would find it hard to recover anytime soon and there would be layoffs with a lot of promising (and not so promising) projects getting terminated
PPS: Pumped by the time i finished writing it XD
Trade safe and take care!
-We have hit our 2nd bottom (almost) which has held so far
-Last time we hit this low was during the dump in late 2018/early 2019
-A complete retracement since the last bottom on the daily chart - a rare sight
-Might be wise to open a long at current levels and look at the skies
Just a Note:
- We are still dependent on the global economic situation and LIQUIDITY is king.
- We can be reasonably sure to ascertain that covid-19 has led to a massive liquidity drawout with people hoarding cash over tanking assets
- If things become worse - we can expect a drop to mid 80s so keep some dry powder for those levels
Yes, technicals are great but as a general advice, it would be wise to keep significant holdings you have in CASH/LIQUIDITY as BTC/ETH are STILL NOT PROVEN STORE OF VALUE (the dump over the last few days should make that clear)
If the world goes to shit, unfortunately legacy currency ( USD/GBP etc) will still help you get food and not crypto
I think the halving bottom and coronavirus could not have come at a better timing and that liquidity will soon be capitalized and flow in to both legacy and crypot markets, once the covid situation settles down
PS: I am in a 5x leverage long since 98 and targeting 280 and 360 + over the next few months (around May maybe) ;)
PPS: ETH below 50 and I personally believe that the crypto industry would find it hard to recover anytime soon and there would be layoffs with a lot of promising (and not so promising) projects getting terminated
PPS: Pumped by the time i finished writing it XD
Trade safe and take care!
Comment
Apologies, its a one year gap between the double bottom :)
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