When looking at the "Bitcoin Charts" for long term HODL positions, I tend to only look at the daily, weekly and monthly time frames.
Bitcoin has been quite volatile in the past 4 weeks (1 month) swinging from $8000 to as high as $13,800. That is almost a $6,000 difference.
For the "Average" Joe/Investor, they must be getting very emotional right now. Do I buy now? Do I wait? Do I short? Do I dollar cost average? Do I go ALL-IN? ETC... ETC...
I use to be like this in the late 90's when I first start trading stocks and options (age 19 at the time). I was buying and selling stuff... losing my ass off. 🤷♂️
The main problem back then, I had no experience and was a very emotional trader. I really didn't know what the hell I was doing.
Looking back, How did I lose over $40,000 in the markets really fast?
The main reason was because I never had any "game plan" and I was just buying shit listening to people on CNBC. WTF! 🤦
(Hey, I was just a teen in the 90's... don't make fun) 😂
With that being said, I never was a good trader. However, the most important thing that I learned from my past experience... always "have a game plan".
So where is Bitcoin heading? I have no idea... All I know is that I have my "BITCOIN BUY ZONES" in place and my buy targets are from $7,000-$9600.
Can Bitcoin hit these targets once again?
Who Knows! All I know is that buying Bitcoin at these levels are my "sweat spot" for my long term HODL positions (2-5 Years).
So what are your thoughts? Are you buying? Are you selling? What are your price targets? .... and if your targets are hit, are you going to put all emotions aside and take action?
Most people will "say" they will but in reality when it come time to take "action" many people just won't because of fear, greed, confusion, ignorance, blah blah blah.
At the end of the day, learn and behave to understand/control your emotions at all time. Once you do, you will be a much better trader.
Keep On STACKIN! 😎
~ Charles Fuchs
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