Why this might be a good moment to buy some coins
A pullback has happened and so many read numbers have been recently appearing in our screens.
Should I sell now? You may wonder.
I don't want to lose more money.
I've recently been educating myself on how to use Bollinger bands and the Stochastic indicator.
I was a person who used to chase the hype and I used to buy when things were looking good, because it's so easy to believe you'll become rich if things continue going that way, isn't it?
But you never know when the trend is going to reverse, or how long it's going to last. You may buy today and it may crash a minute later, who knows?
But if you buy low, or where it's pulling back, and if you work under the basic assumption and premise that it'll go back up again (otherwise why invest in crypto if you don't believe in its potential to grow?), you know it'll reverse at some moment and you'll have the upper hand, because you'll be able to sell and get a profit when everyone's buying, pushing the prices up, and when everyone's so enthusiastic about the bubble they're making.
Markets have to correct, just as there are seasons along the year and you sow during some weeks, you take care of the crops, and then it's harvest time, you don't sow, but you can finally reap the fruits.
And then you start over again.
And I'm writing because this might be a good time to buy some coins.
A pullback has happened and the stochastic is in oversold territory.
We're touching the lower Bollinger band, and from that point prices might bounce off.
We're back to some past levels of support/resistance (orange horizontal lines).
We're seeing some green, which may indicate that we've reached the bottom from now.
But it hasn't recovered much, so it might not be too late for a soon entrance (maybe yesterday was a better day to enter because prices were a bit lower, but it's not still too late).
And even if it goes down, we can hodl and buy the next dip, but at least we'll have this point as one of our dips. A point from which we'll be able to sell and get some benefits when the market goes up again, because it will.
PS: Even if I'm using the daily BTCUSD chart, this is happening with most coins, such as BAT, ETH or ADA. I use this chart for convenience.
Should I sell now? You may wonder.
I don't want to lose more money.
I've recently been educating myself on how to use Bollinger bands and the Stochastic indicator.
I was a person who used to chase the hype and I used to buy when things were looking good, because it's so easy to believe you'll become rich if things continue going that way, isn't it?
But you never know when the trend is going to reverse, or how long it's going to last. You may buy today and it may crash a minute later, who knows?
But if you buy low, or where it's pulling back, and if you work under the basic assumption and premise that it'll go back up again (otherwise why invest in crypto if you don't believe in its potential to grow?), you know it'll reverse at some moment and you'll have the upper hand, because you'll be able to sell and get a profit when everyone's buying, pushing the prices up, and when everyone's so enthusiastic about the bubble they're making.
Markets have to correct, just as there are seasons along the year and you sow during some weeks, you take care of the crops, and then it's harvest time, you don't sow, but you can finally reap the fruits.
And then you start over again.
And I'm writing because this might be a good time to buy some coins.
A pullback has happened and the stochastic is in oversold territory.
We're touching the lower Bollinger band, and from that point prices might bounce off.
We're back to some past levels of support/resistance (orange horizontal lines).
We're seeing some green, which may indicate that we've reached the bottom from now.
But it hasn't recovered much, so it might not be too late for a soon entrance (maybe yesterday was a better day to enter because prices were a bit lower, but it's not still too late).
And even if it goes down, we can hodl and buy the next dip, but at least we'll have this point as one of our dips. A point from which we'll be able to sell and get some benefits when the market goes up again, because it will.
PS: Even if I'm using the daily BTCUSD chart, this is happening with most coins, such as BAT, ETH or ADA. I use this chart for convenience.
Kommentar:
It's March 05 and we're experiencing interesting gains so far. I was optimistic for this week, and it's turning out to be how I expected. We'll have to wait for further movements, but if the enthusiasm continues, we might see even further gains.
The histogram is contracting (red bars are getting smaller), which may indicate that the MACD is flattening out, so the downtrend is losing momentum. Or in other words, an uptrend may be just around the corner.