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 FuchsWant 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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