You will be doing yourself a favor if you Stop and agree to read this with a free mind and little bias. Just take a moment and forget what you know or think about this coin.
The fact that the daily closed below the highs of the last bull market in 2018 indicates that this is not wave 3. A rule of wave 3 is that it doesn't look back, it just goes off. That means we are in the larger correction and that this up-move is most likely the middle wave B or X of the correction.
Think about the sentiment. How do you feel about crypto?
Most the people I know that are investing in crypto right now
1) Know very little about blockchain or investing in general
2) Feel super smart for making stupid money with no knowledge.
3) Think crypto is unstoppable and say diamond hands.
The main thing that freaks me out is that crypto has been following the Nasdaq lately and rising interest rates will KILL CRYPTO.
Low interest rates support Growth Companies. That's what crypto is.
A company that is running off retail investment and loans.
Lots of headwinds, and most people have already put all their money in!!!
Again, Think about how you feel about crypto.
Do you feel like there's no way and that it HAS to go up?
Cause that usually means you're about to lose money.
This first selloff was the initial panic.
Now we're in the hope phase.
Next is the Fear phase......
Once people on the news talk about the death of crypto. BUY!!!
That will be the bottom. The problem is I always get caught up with other things and miss it!! So set alerts!!
You can see my targets.
The only way I'll be confident we can make a higher high is if we get some large buying volume and break $0.65
$0.65 is currently the big resistance.
I plan to take profit around those and wait and see what happens.
I think you'd be fine in the long run if you just dollar-cost-average, but you have to be prepared for 2 years of up and down and just keep buying the dips.
That being said, XLM IS MY FAVORITE!!! :) I love everything they're doing and plan to support them for as long as I can. So you be I'll be buying as much as I can if we hit $0.12 again!
The fact that the daily closed below the highs of the last bull market in 2018 indicates that this is not wave 3. A rule of wave 3 is that it doesn't look back, it just goes off. That means we are in the larger correction and that this up-move is most likely the middle wave B or X of the correction.
Think about the sentiment. How do you feel about crypto?
Most the people I know that are investing in crypto right now
1) Know very little about blockchain or investing in general
2) Feel super smart for making stupid money with no knowledge.
3) Think crypto is unstoppable and say diamond hands.
The main thing that freaks me out is that crypto has been following the Nasdaq lately and rising interest rates will KILL CRYPTO.
Low interest rates support Growth Companies. That's what crypto is.
A company that is running off retail investment and loans.
Lots of headwinds, and most people have already put all their money in!!!
Again, Think about how you feel about crypto.
Do you feel like there's no way and that it HAS to go up?
Cause that usually means you're about to lose money.
This first selloff was the initial panic.
Now we're in the hope phase.
Next is the Fear phase......
Once people on the news talk about the death of crypto. BUY!!!
That will be the bottom. The problem is I always get caught up with other things and miss it!! So set alerts!!
You can see my targets.
The only way I'll be confident we can make a higher high is if we get some large buying volume and break $0.65
$0.65 is currently the big resistance.
I plan to take profit around those and wait and see what happens.
I think you'd be fine in the long run if you just dollar-cost-average, but you have to be prepared for 2 years of up and down and just keep buying the dips.
That being said, XLM IS MY FAVORITE!!! :) I love everything they're doing and plan to support them for as long as I can. So you be I'll be buying as much as I can if we hit $0.12 again!
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.