You cannot deny that the market can crash any day right? What to expect?
Should I be worried?
Last time I was feeling all good and all was well and then suddenly a flash crash showed up and my position was gone. I lost all of my money because of my stupidity of course, I couldn't blame the market because the market did not put the leverage on my position, it was all me, so what now; will it happen again?
You cannot get liquidated if you have less than 5X leverage on your position when the market goes sideways. The squeezes, shakeouts and swings normally take out positions with 10X or more.
You cannot get liquidated if you are LONG but buy when prices are low, near support.
You can get liquidated if you are buying when prices start to rise without a plan on an impulse. The market is shaking just for you.
You will definitely get liquidated if you are trading continually with 20X. There is an entire set of experts, professionals and programs buying and selling just to distract you and when you get distracted BOOM!, out of nowhere money forever gone, namaste.
» Bitcoin
It is the same dynamic all over again, resistance turns support.
I will reveal the technicals for you and you decide what to believe and what to do but my reasoning is supported by data, facts. It is not wishful thinking or random choosing. It is true the market can move in any way but you have to go with the side that has a high probability of success. If you do this often enough, you win in the end.
When the market was going down, every time there was a stop the next move would be a continuation of the main direction, the trend.
When the market is going up, every time there is a stop the next move will be a continuation is simple.
The question is this; is the market rising or falling?
The market has been rising for more than a month. Yes, it is meeting resistance but this resistance has already been challenged several times in the past. Bitcoin moving back to it after a strong correction means the decision point. If we didn't know about the fundamentals, the change in the regulatory landscape and the Altcoins, I don't know, I would say things look mixed at the most, but knowing about all these other factors I can say with confidence that Bitcoin will continue to grow. Don't get me wrong, there can be consolidation for a few more days and even more swings to remove some of those over-leveraged trades; the next major move is up and a new All-Time High.
Thank you for reading.
Namaste.