What a huge debacle in the cryptocurrency markets in the last 24 hours. The sentiment has changed from Bullish to Bearish instantaneously. ππ
In my opinion, the market is way oversold right now and we can see a small bounce from here but I'm still overall bearish.
We can see Bitcoin have a small bounce back up to 8600-9000 this week and if we get rejected (highly likely)... there will be more pain to come. π€¦
As I stated 3-4 months ago, posting about a huge correction coming... I tried to give dire warning to all the "FOMO Boys" out there to be cautious with BTC. π
Here was the post:
https://steemit.com/charlesfuchs/@stackin/are-you-a-bitcoin-and-cryptocurrency-trader-we-all-are
Many of them didn't listen but thats OK! They may learn from this and with time, they will become better HODL'ers and Traders in the future.
As for right now, I'm taking a small long position (14x) in the real short term (Bitcoin $8600-$9000) to accumulate more Bitcoin with this slight bounce (with stop limits of course).
Yeah its a small $150 bet but let's see if I can double it up real quick.
If you are interested in what I'm using for leverage trading for Bitcoin, you can check out Bybit Here. π
Regardless of what happens, It doesn't really matter to me at all. If it goes down, we can buy some cheaper BTC and if it goes back up, well... awesome them. πββοΈ
Buying small amounts of BTC every week (regardless of price) is the way to go with your long term (2-5 years) HODL position. π€
Dollar Cost Averaging is always the way to go if you believe that Bitcoin can hit over $30,000-$100,000 in five years which has a huge possibility of doing so. π
Be careful out there guys, we are going to see some crazy volatility in the coming weeks and it might be a perfect opportunity for many to get some real cheap Bitcornnnns π½π½π½π½π½!
This isn't financial advice... Don't blame my ass if you get REKT! π
Keep On STACKIN! π
~ Charles Fuchs
Want To Trade Bitcoin with 100X Leverage? Create Your Free Bybit Account Here in 30 seconds and claim your $60 Welcome Bonus!
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Bitcorn right?π½π€£
Posted using Partiko Android
Can you send me some bitcornsss? π½π
Posted using Partiko iOS
LOL I buy crypto with the sole purpose of getting rekt but I HODL for the respect! You only lose when you sell
My dream is not to have to sell my crypto one day but to actually just use it directly
Mannn I just want a lambo haha
Posted using Partiko iOS
Up... I hope :)
I want cheaper BTC though haha
Me too!
Can you send me some jk ππ
Posted using Partiko iOS
Who doesn't? π
Well said, @stackin!
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πͺπΌππΌπ―
Posted using Partiko iOS
Good post. Looks like down for now. Resteemed.
Posted using Partiko Android
Took profits at $8650 already and now in a long from $8380... be careful guys, like I said it can correct up to $9000 and take a huge dump again in a few days π
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I can't hodl bitcorn.... it goes right through me π½π
But in all seriousness I agree with what you're saying here. I'm short with reasonably conservative leverage (5x) as I'm no good at day trading. But in this position short from 10000 and fully expecting between 6700 -7500 target I don't need to play the bounces. It's payday even if my stop loss got triggered. But I'm not worried tbh. Pretty sure it's going down to 7.5k sooner rather than later.
most likely a one more dip after that storm