So I have shorted all my crypto positions, and waiting for a buying opportunity. I have decided to wait for this Tether explanation with the senate to pass, because I have a feeling, it's not going to be good. And with this microphone pattern that's on the charts (which is usually bearish) and this structure that looks like a double top pattern (which is usually extremely bearish) and we also have an assending wedge pattern (which is also bearish) I have decided to liquidate all crypto positions until we hear back from the senate or Tether comes up with a damn good explanation. Because we are talking about some massive drops if this goes sour. So for the short term I'm bearish, long term bullish!
other stable coins also might get affected. Terra for example printed few billions as soon as their CFO got charged with fraud, on something separate from Terra but of course crypto related.
True, but the senate is targeting Tether. And in the past Tether states that their funds are backed by bonds and 5% Fiat, and even crypto. I just have a feeling that this story is not going to fly so well with the senate. And with India imposing a ban, not to mention technical indicators on the chart are all pointing towards a dump. So I'm just going to wait and see what happens. Even if it means losing a small amount
Let's see how it plays out, so far Tether just print more, and other follow as I mention Terra. No one can fight against Crypto central banks aka stable coins. They will keep minting billions until something stops them. Huge amount of wash trading also helps.
8 hours? Man, BTC is a long term game. Who doesn`t understand this and cry for every 5-10% or even bigger dip, doesn`t deserve to be a hodler.
I think with Bitcoin one either dips in and out as fast as they can, or they hodl for months, there is no middle ground.
I think it's very difficult to trade bitcoin, which is why I buy and hodl It's not to say that there is no emotional stress watching the m2m values fluctuate a lot in a matter of days or weeks It would be nice to not look at the price everyday but that is not really possible
That's because you're a member of the CCP. (No, not that one, the other one. The Crypto Crack-Pipe club. Can't put it down.)
It's extremely difficult. I look at the charts sometimes wondering why I make the decisions I make, but any decision you make you have to stick with it and have a plan in case it does the opposite and be prepared to lose money. But the gains you make can multiply over time. But if you have no knowledge of trading I suggest holding. This is no time to learn how to trade with these volatile price movements that Bitcoin be doing