Not financial advice. DYOR. For my personal benchmarking reference only.
Crypto Twitter has been taken over by short time frame (STF) traders looking to affect ST sentiment to bolster their trades and keep LT investors range bound. Influencers are also being paid handsomly rn (while the carousel is still spinning) to shill 8th & 9th inning altcoin bags.
Whats an investor to do? Stick to the plan and mind the LONG and MID time frame (HTF and MTF) support/resistance levels. Whiiiiich have been VERY reliable thusfar. I can't underemphasize just how reliable they've been. So i've included the chart. That has remained unchanged since the first support and resistance levels were printed anywhere from feb/march of this year, to the LTF level that is being tested now, but was first drawn from the btc bottom in 2019.
My plan hasn't changed and imho this is the perfect time to be adding btc. the r/r ratio rn is great.
If however $BTC breaks down below this LTF support line, my opinion varies (and i'm sure alot of larger investors opinions change as well. Not to say it can't 'wick' below this line, but i wouldn't want to see us spend more than a full daily candle below here without serious volume indicating buyer interest.
I think the next 24-48hrs will be telling. hopefully the market holds up here over the holiday weekend. If it doesn't, thats ok too. I'm not married to anything rn but i am now 70% btc, 20% stable and 10% favorite alt ($floki)
Crypto Twitter has been taken over by short time frame (STF) traders looking to affect ST sentiment to bolster their trades and keep LT investors range bound. Influencers are also being paid handsomly rn (while the carousel is still spinning) to shill 8th & 9th inning altcoin bags.
Whats an investor to do? Stick to the plan and mind the LONG and MID time frame (HTF and MTF) support/resistance levels. Whiiiiich have been VERY reliable thusfar. I can't underemphasize just how reliable they've been. So i've included the chart. That has remained unchanged since the first support and resistance levels were printed anywhere from feb/march of this year, to the LTF level that is being tested now, but was first drawn from the btc bottom in 2019.
My plan hasn't changed and imho this is the perfect time to be adding btc. the r/r ratio rn is great.
If however $BTC breaks down below this LTF support line, my opinion varies (and i'm sure alot of larger investors opinions change as well. Not to say it can't 'wick' below this line, but i wouldn't want to see us spend more than a full daily candle below here without serious volume indicating buyer interest.
I think the next 24-48hrs will be telling. hopefully the market holds up here over the holiday weekend. If it doesn't, thats ok too. I'm not married to anything rn but i am now 70% btc, 20% stable and 10% favorite alt ($floki)