For anyone confused in this moment, bitcoin is not crashing but correcting and this is a healthy part of any bull market. Had the relentless growth continued there was a good chance this bull market would have come to an early end. And no one wants that!
So, from where I am standing this correction is great news because everything will stay perfectly on track for the peak at the end of this year, giving us plenty of time to take full advantage.
Assuming you intend to never take orders from a boss again?
Long positions at the ready
I have learned over the last week how to use the leverage trading platform ByBit and this correction could not have come at a better moment for me to test out what I know.
I am expecting the correction to be a decent one (around 30%) so when I believe it to be done I will use $2000 worth of BTC and $2000 worth of ETH to buy long positions, using a leverage of x25.
Looking specifically at BTC now, I will sell my position when we reach the 40k level again because I know we will experience resistance here. To clarify, assuming this is a 30% increase from the moment I buy, my profit will be $600 from the bitcoin move, increased by x25 from the leverage platform, making it $15,000.
It is possible to leave that long position in place till the end of the bull market and assuming a $150,000 top that would be an incredible profit. However, doing this is not advisable for a plethora of reasons, so I will be taking profits at strategic moments and waiting patiently for decent entry points along the way.
If any of you are interested to learn more about leverage trading just drop me a message below. It is unquestionably the best way to increase what we have during a bull market and it is actually not risky at all if you learn how to use stop losses.
In other news, global warming has been cancelled!
Two days of snow in the land where we can grow bananas & avocados.
And this is just the beginning. Plenty more cold still to come...
Love & Light everyone 🌱
Your crypto currency analysis is well. Investors should learn a lot like you.
Appreciated. Though in truth I am a beginner.
Just sharing what I am learning as I go along...
Very risky! What happens, if the "correction" continues? Early 2018 it didn´t stop at 30% either.
If that happens my stop loss will be triggered before I am liquidated and I will lose around $70. This risk vs reward is okay for me.
And this is not the same thing as what happened early 2018 at the end of the bull market. We still have a bull market ahead of us and the 4 year cycle (created by the halving) remains on target to peak at the end of this year.
this might help as well
https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-btc-bigger-correction-coming-up
Appreciate the link. What do you make of Bob Loukas who is a big believer in the 4 year cycle?
Looks really interesting, I'll check it out thanks!
I've been following him for two years and so far he has been spot on every time.
We finally got some snow too, but we aren't in an area where you can grow banana's or avocado's! I was really happy to see it arrive. Now we are getting told the polar vortex might be coming and that I am not looking forward to. Good luck with your positions. The next couple of weeks could be really interesting!
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Seems like the correction is moving fast. Which is great really!
Get it over and done with ;)
Enjoy the snow!
Yes, I definitely agree! Thanks, I am hoping we get a bit more before the season is done!
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I'm interested to understand more about leverage trading. I do understand stop losses, but I'm a bit paralysed with what to do to take best advantage with what is happening now.
Posted Using LeoFinance Beta
It's all about being ready for moments like these.
Get your bybit account set up (hopefully using my referral link in this post!) and transfer over BTC, ETH or XRP.
And then just buy the dips and sell the peaks! It is exactly like regular trading, just with the potential for much greater gains.
The best detailed tutorial I have found is this one, although I do find his constant reference to how much money his followers are making a bit tedious.
A more basic tutorial here:
Have fun!
Thank you for sharing! I am still a bit confused about that procedure. I will have to look at some tutorial videos. That’s very good to be able to increase the earning! I hope the correction will be finished soon!
Definitely don't do it if you are in any way confused. This is not for beginners. Correction still going for now...
Feelin' that. We just broke out to the top of the triangle.
https://peakd.com/hive-167922/@samstonehill/what-pattern-is-btc-forming