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RE: This is Why You Buy the Pullback of New Highs and Not the Breakout of New Highs (BTC Analysis)
What gets me is the huge volume of selling as the price dropped from $11,000. As the price went lower, even more people sold.
If you wanted to make money trading that last spike, you would have had to get in and out in three hours. That is not always easy to do.
Like you said, that blow off top was a good time to sell (if you are a trader and not a HODLer)
HODLers do not worry, bitcoin is going to have a lot more people getting into it, and thus much higher prices in the future.
Yes, long-term BTC will be much higher. What I'm doing (and sharing with others) is strategically buying pullbacks as I build bigger and bigger positions in cryptos.
Occasionally I make a trade since I have a background in it. Like when BCH went parabolic in a two hour span few weeks back. Sold the rip, bought back on the next candle 1k lower...wish that happened all the time :-)