We are in such a critical time for Crypto. First, we must understand that the entire crypto market follows Bitcoin.. Bitcoin crashes… they all crash. If you don’t believe this to be true, then you haven’t been through a crypto crash yet. At the time of this writing (Sunday night 1/30/22) BTC is riding the bottom of the ichimoku cloud on the weekly (which is a horrible scenario for someone like me who relies on that as a major signal for BTC calls). Here is what we are looking for: A break above $38K to delay a crash, a break below $36K to signal the next leg down.
Unfortunately that leg down we are looking for is $30K. The week was weak, and the future looks bleak. Now when I say this it is SHORT term… BTC long term is going to be the best investment you ever made… but I still must emphasize what we already know: If you’ve got money in the market you can’t afford to lose… why were you dumb enough to put it in the market? Only put money in crypto that you can afford to lose. The reason is because you don’t want your emotions to control your logical decision making. If you’re emotionally attached to your trades you are going to make the wrong move.
Rather than checking the charts every 5 minutes, place a long term play and walk away. The next few days could get pretty ugly and you might want to mentally prepare. That being said, I’m also skeptical. We made the call here that BTC had all the right indicators that $60K at the end of February was the right call… Yet it all fell apart with the traditional market. Here is why we are skeptical. We expect a market bounce soon. We assume the FED will not let this market die just yet, and because of this it is only a matter of time before they step in and pump the dip and inflate the bubble. When this happens BTC will follow in its footsteps.