Don't try to be a crypto "Day-Trader." Cryptos are way too volatile for that.
Do not make a large buy or sell until the price-action plays out just a little bit. That way you get some kind of a confirmation as to the larger price-action. Sure, you might miss out on making as much on a move upwards, or you might lose a little bit on a move downwards - but both of those scenarios are better than buying a large position and watching the price fall, or selling a large position only to see price action spike upwards.
It's best to make your moves in 2 sales or purchases, and not "all in" all at once. That way, if your prediction for a rise or a fall is correct, then you move into your position with the otehr 1/2 of your cash or BTC. This keeps your losses and gains smaller, but it also exposes you to much less risk of taking large losses.
Right now, the overall BTC sentiment is clearly "Bearish"/Down. The 200 WMA is a good support level but, if the price does fall below the 200 WMA, where is the bottom??? Somewhere in the $2,000 area, most likely - with some looking towards a lower low in the $1,100 - $1,200 area. So, I wouldn't be making any big buy-ins just yet. Wait for a Bull move to be confirmed if you're going to buy. Nothing in the charts is screaming, "BUY!" right now.
Don't ever sell BTC at a loss. Even if it goes back down to $1,100, it will go back up again - you just have to wait a lot longer. If you are fearing losses and thinking about selling, it's only because you made a bad decision somewhere earlier in your process to buy into a BTC position. If you can't take the losses, you shouldn't have spent that much cash - plain and simple. Nobody believes that BTC is going to stay this low forever. We might not see $20K again this year, but maybe next year, or the year after. Hold fast, if you're in a large position right now. If you're sitting on a lot of cash, wait for the confirmation of a Bull Market. Even the best traders are not good at calling tops and bottoms - only the lucky ones. There are very few lucky ones out there.
$250K - $350K are small drops in a larger BitCoin ocean. To the average Joe, that's a $#!t-Ton of money. To whales, it's spilt milk. TA is almost impossible in cryptos when one daily news story, or one move by a whale can completely sink 100's of smaller ships. Wait a couple of days or a week for price-action to receive a little bit of a confirmation before making moves at this important point in the charts. This is an important moment for BitCoin - don't move to early and make the wrong call.
Don't try to be a crypto "Day-Trader." Cryptos are way too volatile for that.
Do not make a large buy or sell until the price-action plays out just a little bit. That way you get some kind of a confirmation as to the larger price-action. Sure, you might miss out on making as much on a move upwards, or you might lose a little bit on a move downwards - but both of those scenarios are better than buying a large position and watching the price fall, or selling a large position only to see price action spike upwards.
It's best to make your moves in 2 sales or purchases, and not "all in" all at once. That way, if your prediction for a rise or a fall is correct, then you move into your position with the otehr 1/2 of your cash or BTC. This keeps your losses and gains smaller, but it also exposes you to much less risk of taking large losses.
Right now, the overall BTC sentiment is clearly "Bearish"/Down. The 200 WMA is a good support level but, if the price does fall below the 200 WMA, where is the bottom??? Somewhere in the $2,000 area, most likely - with some looking towards a lower low in the $1,100 - $1,200 area. So, I wouldn't be making any big buy-ins just yet. Wait for a Bull move to be confirmed if you're going to buy. Nothing in the charts is screaming, "BUY!" right now.
Don't ever sell BTC at a loss. Even if it goes back down to $1,100, it will go back up again - you just have to wait a lot longer. If you are fearing losses and thinking about selling, it's only because you made a bad decision somewhere earlier in your process to buy into a BTC position. If you can't take the losses, you shouldn't have spent that much cash - plain and simple. Nobody believes that BTC is going to stay this low forever. We might not see $20K again this year, but maybe next year, or the year after. Hold fast, if you're in a large position right now. If you're sitting on a lot of cash, wait for the confirmation of a Bull Market. Even the best traders are not good at calling tops and bottoms - only the lucky ones. There are very few lucky ones out there.
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$250K - $350K are small drops in a larger BitCoin ocean. To the average Joe, that's a $#!t-Ton of money. To whales, it's spilt milk. TA is almost impossible in cryptos when one daily news story, or one move by a whale can completely sink 100's of smaller ships. Wait a couple of days or a week for price-action to receive a little bit of a confirmation before making moves at this important point in the charts. This is an important moment for BitCoin - don't move to early and make the wrong call.