Following up from yesterdays TA, it looks like we did break the 50EMA on 4hrly and major support line that has been holding for about a week. Breaking below doesn't bother me in anyway, in all honesty I have been hoping for this as to me it's an opportunity to get in lower as I am in permabull mindset. I did get in on yesterdays support level at 50EMA/support level $45,400 (drawn in black) because if you're not getting in on supports when are you meant to get in. Fortunately I managed to catch the bottom of the pullback at $44,300 and bought 0.25 BTC and sold as it approaches the previous support $45,350 which I believe could act as resistance.
In situations like this I like to have my main position and have a smaller position (0.25 BTC) to play with to allow me to constantly dollar cost average, so when we do get the those big moves up I am maximizing on profit potential. ie with this smaller position bought at $44.3 sold at $45.3, it's a few hundred dollars profit but constantly doing it adds up.
I am hoping (I am often high on hopium) we see a big income of money and take us all the way to $52k, if not, will add on the way down. $42.5k could act as a major support, if we do reach there, will add even more at that point.
From my experience and speaking with hedgefund friends, it's conclusive we are in a completely new bull faze, don't miss this opportunity. DO NOT PANIC SELL, never do this. Remember with crypto, it can be declining for weeks and within a day it can blast through and take you back into profits.
Try to not trade with emotion, if you find yourself trading with emotion, lower your sizing.
In situations like this I like to have my main position and have a smaller position (0.25 BTC) to play with to allow me to constantly dollar cost average, so when we do get the those big moves up I am maximizing on profit potential. ie with this smaller position bought at $44.3 sold at $45.3, it's a few hundred dollars profit but constantly doing it adds up.
I am hoping (I am often high on hopium) we see a big income of money and take us all the way to $52k, if not, will add on the way down. $42.5k could act as a major support, if we do reach there, will add even more at that point.
From my experience and speaking with hedgefund friends, it's conclusive we are in a completely new bull faze, don't miss this opportunity. DO NOT PANIC SELL, never do this. Remember with crypto, it can be declining for weeks and within a day it can blast through and take you back into profits.
Try to not trade with emotion, if you find yourself trading with emotion, lower your sizing.