Market Watch: Big Wave Incoming.
I've never seen volume this low.
Wow that is bad... like... really bad.
No one is selling (yet), but more importantly no one is buying.
Even after two weeks of red.
At the same time the full moon was yesterday and the official deadline for taxes in the USA is tomorrow. By all accounts we should be moving into another bull cycle (or at least hover sideways for a while). This piss-poor volume is telling another story.
This leads me to believe that we are about to step in a bear trap.
This market is still fearful, and this idea that $40k is a meaningful support needs to be exploited once again. I think we are about to see a slight crash down to around $37,500 to fleece all the suckers before we hard bounce back up toward the end of the month.
No one said the road to moon as easy.
The best strategy for most of us has always been lalala-I'm-not-listening-hodl-hodl-hodl strategy. Trying to make money on trades always seems to backfire. The market has our number.
The only sure-fire way to outtrade this market is to constantly play it safe, maintain balanced positions and DCA over time during nominal timespans (weeks/months). Let's be honest, hardly anyone has the self-discipline to actually employ this strategy. It's very much a do-as-I-say-not-as-I-do scenario. Even though I'm constantly harping on this strategy about how it is the best, have I actually ever done it? No! I'm constantly all in and just hodling away with the rest of the hodlers. Big wins and big losses; fun times. Gamble Gamble.
Conclusion
Just really wanted to get this prediction out there. I've never seen volume this low. The only way we can go up from here is a complete and utter supply shock. Not impossible, but also not super likely. It's far more likely the idea of a $40k support line will be exploited for one last bout of fear before we begin to move up. Thinking something like $37500-$38500. Don't forget, higher lows are bullish (unless we're trapped in a quickly diminishing ascending triangle).
In the end, we've bled long enough, and summer is coming. If somehow April trades under $40k by the end of the month that would make this April the worst April of any April for the last ten years. Somehow I doubt that will happen. Bullish cycle incoming, but we may need to fleece the timid sheep on crypto Twitter one last time.
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I'm amazed that btc didn't go back down to 20k... But I am certainly not an expert 😂 I mostly stick to a few of my favorite projects, and try to build up good bags of them.
Holding is still a good strategy...but more importantly, it is a relatively stress free strategy compared to others. Can't go wrong holding long term
It may be a case of sell in May and go away. The market doesn't want to go up and its just s simple as that. The path of least resistance is down. I was saying to my friend the other day, 2 or 3 years we break 100k and that will create so much excitement that it blows way past it and possibly creates an enormous bubble. Until then we bleed out in anticipation, frustration and disappointment. Crypto is wealth creation but its also wealth destruction.
Doubling curve will be over $100k by the end of 2023.
You are basically saying we aren't going to get a bull run that entire time.
Very well may happen if the legacy economy goes belly-up
simple question, who buys after us?
I don't see those people in the current macro market. So down only :D
I have a feeling that downside is closer than we might think. As in, Monday. The Japanese stock market is taking a big hairy dump and the Dow and Nasdaq futures suggest a sharp down opening Monday morning. Investors in the US who need to pay taxes will be selling first thing tomorrow and hoping the settlement float is faster than their checks can get to the IRS and be deposited. Likely, they will also be selling BTC.
BTC is already down to the upper $38K range as I write this (10pm US Pacific) so things are a bit shaky...
=^..^=
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We always hope for a positive price in Crypto and I believe there's still progress to occur sooner or later
$37,500 is one the table right now if you ask me. Too boring to go up.
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Thankfully I’ve been buying and haven’t sold anything for a full 12 months now lol. Got wrecked too many times last year so I said fuck it and stopped trying and failing to buy low sell high. After all that mess I only made 200$ which is good that I didn’t outright lose but not worth the stress and effort lol. Buy buy buy!
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STOPThis is my favorite strategy from now on 🤣😂
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Volume is the wind in our sails, first major indicator I utilize, nice post !1UP !PGM
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:)
silly meme doesn't realize doubling curve is at $34k
haha :D
Even though Ive made money trading against your advice, this is the outcome I most expect as well.