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RE: How To Profit From People's Tendency to OVER REACT! | Investing Psychology Series - Episode 3.
I present to you my favorite image of investing psychology.
Click here for a larger view.
Even though my post yesterday, I'm not convinced we are done with the selling since it still hasn't closed above the levels shown in the post. If it reaches the lower point of the longer term moving average again within the next few days, I suggest more buying.
Yeah man I love that image, it certainly matches up with the emotions we see in the crypto market. I just think the latter part of the image, where price never recovers beyond the high won't be accurate for solid cryptos that have a strong future, for shitcoins yes this image could be exactly what happens though!
BTC/USD has actually come strongly back into the expanding triangle I drew a few days ago (for now at least, 4hour candle hasn't closed inside yet) and so I think the recovery is in full flow now, will make a post to illustrate exactly what I mean.