Being Strong and Persevere during Crypto Corrections and Retracements

Good morning Fellow Cryptonians

As you might be realizing right now, being in the Crypto Space is like playing tennis. It’s a battle between 2 forces, the sellers and the buyers, the ones that can make profits by manipulating markets, and the others that are at the mercy of market movements.

You will have also noticed that being involved in the crypto space, is not like taking the happy pill, where you put funds in and expect magically to make 10 times or 100 times your investment. It’s a roller-coaster of high and lows. It’s not much different than to be in a relationship with a partner that has massive emotional swings, at one moment is loving and caring and the next is angry, resentful and hurtful. You look at this person and wonder why are you like this? He/she looks at you, assuming that you would know what you have done wrong, while you still remain clueless.

Same with the market. We were supposed to go up! We are in a bull market! Why so many corrections? Why?

If we want to be in the crypto space, we need to come to terms with these swings and realize that there are many market conditions and outside influences that can play a role in these price movements that are outside our control. After a while you get used to it, you get a thicker skin. You start going with the flow instead of having a resistance to it. You work with it not against it. Otherwise, it is like trying to control smoke with a fishing net. It does not work.

For now we can use these swings to learn about how to read charts, and how the market behaves. If we can master these skills we will have the opportunity to make profits consistently no matter what the market conditions.

In fact the same skills that apply to the Crypto space can be used in Future, Currencies, Indexes and Commodity trading. Any market that has a decent amount of liquidity in fact.

Also, we need to learn about how the Crypto market as everything in life moves in cycles and patterns. Tuesday, Wednesday and Thursday are the main money flow, liquidity and movement days. Tuesday has been a consolidation day, and it looks like the market today will make a decision in regards of what direction the rest of the week will take. So please watch what the markets do after 10am (Sydney Open), London Open and NY open and NY Futures open.

There are a few factors that could create a lot of volatility, so please be cautious. 

You can keep up with the latest news on sites like:

https://www.coindesk.com/

https://www.bloomberg.com/cryptocurrencies

https://cryptonews.com/

As we can see from the charts this fine morning, the price action of Bitcoin has been consolidating between the $41K  and  $39.5K (USD) . This was expected and was mentioned in the previous post.

This in the chart is represented by the letter “C” in Chart 1, with a 3 hour time frame.

The day open yesterday was $40,680 and we can see just now as I am typing this that the market is moving higher in a gentle uptrend.

The indicators are giving us mixed signals as it normally happens in consolidation periods. The MACD and TDI are bearish while the Stochastic and RSI are in positive territory. The 21 and 50 Moving Averages are trending up, but the 200MA (on the 3 hour time frame) it’s just moved lower, but it’s trending up.

So be aware of both scenarios.

As many of you know, I put my heart into this.  Expeically in heping the Private Facebook Group I have created (https://www.facebook.com/groups/cryptowealthnation). Why?

Because we all share one thing in common, we want a better life for ourselves and our loved ones. We are tired of having money, or the lack of it, govern our decisions and lives. Living to DO rather than living to BE.

I have been there in 2017 and lost 85% of my portfolio during the end of the 4 year cycle and the bear market. If I can avoid you the pain, uncertainty, doubt and anger that I went through, then I am making a difference and my purpose has been fulfilled!

The Crypto space can be exhausting… sometimes, well actually often, as we tend not to see things happen the way we anticipate them to be. Some days  are awesome, some days we wonder why we are in the crypto space. This is a forging of your mind, heart and soul, helping us learning how to expect the unexpected and become more resilient.

This game is hard…don’t take its simplicity of “placing a trade” and hoping it plays out… as just a game of chances. Because your emotions if not mastered, will go against you. Play a longer term game. The investor that wins is the one that can be at peace with his/her choices in the face of life storms. We reap the fruits of labor and efforts put into understanding this chaotic market, instead of just flying blind.

For those of you that follow my posts, I thank you sincerely… Your feedback and messages motivates me to do more, to do better. I am grateful that the information I give is helping many of you taking steps closer towards your understanding of the crypto space and mastery in this field…

I know that if you master this crypto space, and understand how the market moves, that this can truly change everything in your life…

All the best, much light