If you come up with a plan though fear doesn't matter (kinda). If you're long term, and fear destroys your buy in price and keeps dropping, once confidence and the buyback start you'll easily hit that price and could even go back to pre drop levels for a profit. If you don't want to be stuck holding the bag you can easily set stop loss's as well so you can try to buy back in at the next support level.
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The average buyer doesn't know how to do that and they end up feeding the whales. Which is why I think Hodl is the best strategy for them. We all believe the market will shoot back up when fiat gets blindsided by one thing or another.
For sure!
Have any of those actual chart fundamentals helped you trade in this market?
Remember, this market has no rules, it has no fundamentals, so why you guys carry over fundamentals from actual markets with real products I'll never know.
A lot of this trading is fear, fear that these two sides at war will seriously fuck Bitcoin up... indefinitely, and there ain't a fucking chart on this planet that's going to alleviate that kind of uncertainty.
Thats why you never try to trade against the trend and catch a falling knife. All charting does is show you where to plan a trade. If charting was a guarantee everyone would use bots to trade.
I like that quote a lot. Catch a falling knife. So true. I love watching the pro's over at Ethtrader...they can do what I could never do. Great gauge for what is to come, though.