What is your strategy in the face of a red candles, are you a seller or buyer

in btc •  3 months ago 

Its extremely beneficial to have a plan and a probabilistic attitude when it comes to cryptocurrency. The market is a beast of its own and the rational of charts and patterns would only get you so far. Its important to have a game plan, and have a reasonable expectation of returns in a given timeframe. What is your strategy when you see a chart like this?
Screenshot (2090).png
We haven't seen one of those big red candle forming on the weekly in awhile, the last weekly close was a doji signaling that the market was at a moment of indecision. The week is still fresh and plenty can happen but only time would tell. As can be seen from the chart, I haven't done much update on my charts since we left 5k region and its probably a good time to update the charts. Nonetheless, it isn't important to me as I like to see how this week finish off and what levels we end at. We had some solid weeks and months of gain, so this price action wasn't a surprise, I believe it would have been earlier but market markers seem to let the June 1st EOS event play out and now its down to business end of things where market depth and possibly shakeouts is taking place.

Now is a good time to analyze your situation, know where you want to be and understand the amount of risk you are willing to stomach should the market move against you. Judging from what I have seen, and the volatility we have experience, I be taking my position and filling my bags. When the market makes a decisive move, the FOMO could be epic as dip buyers waiting for lower prices realize the market has move on again without them. This is also an excellent time to analyze your portfolio and look for coins that has maintained value or steadily increase, it shows holders are strong and are likely candidate to outperform when the market goes risk on again. Only trade what you can afford to lose and may the green pips be with you.

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