I have always maintained that the (smaller) crypto markets are much more like a commodity than a stock. They are driven by scarcity and volume and any given number can be stated as either condition. Incredibly news driven and particularly trader rumors they are easily manipulated in the short term.
I can't believe the reaction to DAILY charts. What a useless instrument. And a fraction of people are convinced every day that the moon is next or the crash is upon us. From a 24 hour trend. It just amazes me every day.
Thanks for a really good and rational post. I just wish more people would read it.
Supply - Demand in the intermediate to long term. That generally works. Certain financial concepts are simple to say; even communicate but incredibly hard to implement. That’s where trading/investing psychology comes into play.