Hello fellow Steemians ! I got requested alot, so I'll try to give you a daily insight of the market, from my perspective. So lets start!
Personally, even if I dont use it for trading anymore so much, due to the whole Tether drama, I use BitFinex BTCUSD pair diagram to get a hold of the current market and trend, since BitFinex does the biggest BTC trading volume. I prefer BitcoinWisdom over TradingView, and thats only because Im used to it since the MtGox days.
This is the link Im using :
BitcoinWisdom and I use the 1h and 4h Time Intervals.
Here I want to add for people who missed my intro post (you can find it here ) that I have experienced this kind of market behavior countless times from 2013. and it does bring memories and dejavus!
Those said, it looks like a perfect "bears trap" is set. Retailers, which is the main target on any bear market, are running panicked and suddenly everyone is screaming for"BTC at 5k$" scenarios. Chill! Remember, January 2017, BitCoin was ~1k$, and now in this"mega crash" is 8k$...
-"Yeah ok Kira, but we didnt all buy last year, and we are minus -50% from January 2018!"
Short answer : Yes you are.
Long answer : Yes you are, for now. Still you are not losing though, not before SELLING! Rome wasnt build in one day, and while everyone wants to have those 20~100% gains PER DAY, at the same time is not sustainable. Feel lucky instead, you are witnessing a new Era, and you have the unique opportunity to get one piece of the history that is to be made the coming days/weeks/years/DECADES. Delete your Blockfolio apps, and stop checking the price every 10 minutes! Let time do the hard part - and just hold your ground ! Set targets, and forget about them.
-"So we buy blindly anything and just forget about it??"
No. But wait for the right timing, and if something be ready to increase positions in case of some super sales! And at the moment, there are TONS of opportunities like that. Just to name a few(I will develop my other alt-holdings in another post): XZC, PIVX, VEN, NULS, VEE.
OK! So back to today's market!
As said, current market situation reminds me ALOT 2015. It was a painful year to watch, i recall, price was stuck for almost 10 months in the 380$~450$ zone, and was showing no signs of any recovery/new ATHs. everywhere was doom-and-gloom, tulips-mania talking on media, and all those wonderful things mostly funds and bigger heads than us want you to believe, in case to"get rid of your coins for nothing". And there is no better way to do that, than manipulating your psychology, aka play with your mind and try to"fold" your cards. Dont do them the favor!
Technically now speaking, its"Game on!" for BitCoin, and total MarketCap atm. The 8000$ mark while has zero meaning TA wise, is important psychologically-wise. Personally I think it will retest the 7800$ zone before shooting up again at near 9000$ zone. One of those upcoming rallies though, when it triggers, will be a MONSTER one and everyone shorting BTC will be simply destroyed.
Stay green!