Following up from yesterdays TA, it looks like we did break the 50EMA on 4hrly and major support line that has been holding for about a week. Breaking below doesn't bother me in anyway, in all honesty I have been hoping for this as to me it's an opportunity to get in lower as I am in permabull mindset. I did get in on yesterdays support level at 50EMA/support level $45,400 (drawn in black) because if you're not getting in on supports when are you meant to get in. Fortunately I managed to catch the bottom of the pullback at $44,300 and bought 0.25 BTC and sold as it approaches the previous support $45,350 which I believe could act as resistance.
In situations like this I like to have my main position and have a smaller position (0.25 BTC) to play with to allow me to constantly dollar cost average, so when we do get the those big moves up I am maximizing on profit potential. ie with this smaller position bought at $44.3 sold at $45.3, it's a few hundred dollars profit but constantly doing it adds up.
I am hoping (I am often high on hopium) we see a big income of money and take us all the way to 52K, if not, will add on the way down. 42.5k could act as a major support, if we do reach there, will add even more at that point.
From my experience and speaking with hedgefund friends, it's conclusive we are in a completely new bull faze, don't miss this opportunity. DO NOT PANIC SELL, never do this. Remember with crypto, it can be declining for weeks and within a day it can blast through and take you back into profits.
Try to not trade with emotion, if you find yourself trading with emotion, lower your sizing.
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