Bitcoin Update - THIS CAN BE A TRAP!!!
Hey guys, listen to this quick update.
We're going to get straight to the point. Everyone is bearish about Bitcoin, right? If you look at the fear and greed index, you can see that there's a lot of fear. Yesterday, there was extreme fear around 21. And today there's still fear, around 28. But that's the good news. If everyone is talking about a bearish Bitcoin scenario, then where's is your EDGE? If the whole world is thinking the same thing, then YOU as a day trader don't have an edge anymore. And in order to have an EDGE, you must do and think what other people don't. I hope you get the point.
This is the same scenario when Bitcoin was going up and it hit 69K on 10 November 2021. Everyone was SCREAMING: "Bitcoin to 100k"
Everyone was thinking and saying the same thing, so that means that there was no edge anymore. And what happend? The exact opposite! Bitcoin went down to 42K!
Right now, everyone is shitting their pants. Almost everyone is talking about bitcoin making lower prices. Right now, people are fearful, they're anxious, and they don't know what's going on.
So guess what? The exact opposite can happen. If you look at the 4 hour chart above, there was a bearish candle that closed right into support. As long as Bitcoin doesn't break that support level, there's no need to be bearish! The moment Bitcoin breaks that support level then we can begin looking for short positions.
Conclusion, I'm not saying that we will see 100k Bitcoin. I'm just saying that if everyone is saying the same thing, then there must be another way.
When everyone is greedy, be fearful. And when everyone is fearful, be....
We're going to get straight to the point. Everyone is bearish about Bitcoin, right? If you look at the fear and greed index, you can see that there's a lot of fear. Yesterday, there was extreme fear around 21. And today there's still fear, around 28. But that's the good news. If everyone is talking about a bearish Bitcoin scenario, then where's is your EDGE? If the whole world is thinking the same thing, then YOU as a day trader don't have an edge anymore. And in order to have an EDGE, you must do and think what other people don't. I hope you get the point.
This is the same scenario when Bitcoin was going up and it hit 69K on 10 November 2021. Everyone was SCREAMING: "Bitcoin to 100k"
Everyone was thinking and saying the same thing, so that means that there was no edge anymore. And what happend? The exact opposite! Bitcoin went down to 42K!
Right now, everyone is shitting their pants. Almost everyone is talking about bitcoin making lower prices. Right now, people are fearful, they're anxious, and they don't know what's going on.
So guess what? The exact opposite can happen. If you look at the 4 hour chart above, there was a bearish candle that closed right into support. As long as Bitcoin doesn't break that support level, there's no need to be bearish! The moment Bitcoin breaks that support level then we can begin looking for short positions.
Conclusion, I'm not saying that we will see 100k Bitcoin. I'm just saying that if everyone is saying the same thing, then there must be another way.
When everyone is greedy, be fearful. And when everyone is fearful, be....
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