Bitcoin in small retreat: Correction or Next Moonshot?
Hello Project Hope friends, I hope you all have a great weekend. We have seen BTC above 66,000 again, although it is now making a decline. But how deep will that setback be? It's something we can't know exactly, obviously. We can only wait and remain patient.
Things like "now we are going to the moon" begin to be read, while others comment that we have a liquidation in the 66,000 of those who were in sales, and that a collapse would come to liquidate the bulls who are in the range of 62,000. Anyway, there are many theories about what could happen, but the reality is that no one has a crystal ball to predict it with certainty.
This is something I would like to highlight. In particular, as I am leaning towards a longer-term trading strategy, I have noticed that intraday trading is still highly risky, especially due to the high volatility found in smaller time frames. This reduces the margin of success considerably. Therefore, knowing exactly what the price of an asset will do is practically impossible. It is important to always keep your mind focused on probabilities and not fall into the trap of predicting the future.
Those people who assure with complete certainty that the price will rebound at a specific point should be viewed with skepticism. While it is true that there are areas where the price can have important reactions, either to confirm a bearish or bullish direction, the reality is that unexpected events or highly relevant news can drastically alter the price action. These external factors usually move the market with great amplitude, altering any previous analysis.
Additionally, something that usually happens is that most people get carried away by market sentiment or "expert" opinions, which can often result in wrong decisions. Therefore, I consider that the most prudent thing is to manage risk and adopt a strategy that allows us to remain calm in the face of volatility. Instead of obsessing over short-term trades and constant adjustments, it may be more convenient to open long-term positions with proper risk management. This allows our mind to be calmer and we can see the results more clearly.
Finally, my experience has taught me that we cannot control the market, but we can control our strategy and how we react to uncertainty. Greetings!
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Mi estimado Doc, el alza de las criptos depende bastante de la psicología. Estimo que si gana Trump las elecciones el BTC llegará hasta plutón. Saludos.