The reality is no one quite knows what the next move is going to be and this is the wait and see game. If Bitcoin breaks the resistance we go up and if the support is broken we go down. Yes some other things could happen but that is the simplistic not overthinking strategy for many right now.
How many "investors" have been rekt over the last 3 weeks buying the FOMO at $60K only to see their savings they couldn't afford to lose disappear. The sad part is they haven't gone and will come back with patience if you can afford to just wait.
A friend of mine wanted to get into crypto for a while and all I said was get your funds ready as things don't hang around when they kick off. He asked me for the process of how to get in which like a fool I told him. Converting FIAT via Lunar and moving funds to Binance. I did tell him to wait and I would let him know but just get the cash ready. Not listening he went ahead and bought $1000 of Ethereum when it was at it's all time high. He can afford to lose it all so there is no pressure and he must wait until I tell him what to do next now. He is going to copy my trades so God help him. Still he is lucky as I am not doing this with a bind fold and a marker stick.
I told him yesterday not to panic even though he was super dumb and needed to listen to what I was saying. When the market turns he is already 40% behind and I hope he has learned a valuable lesson. Like many he was watching the market going up and never suspected we were all waiting for a pull back.
When you are involved like we are in crypto being involved in a community plus the many twitter feeds we have far more information than the average Joe. We know the scenarios that can happen next but the majority of retail investors don't and have no clue.
The one thing I have noticed is the calmness amongst the investors compared to the newbies as many understand the games that are being played. When I first dabbled in Crypto in 2018 I was so innocent and have learned so much since then and brings me onto something that I read today about the Thai Government adding new regulations for exchanges and investors.
The Thai's want to add some regulations not only for the types of coins exchanges are holding, but everyone using the exchange to pass a basic trading exam. I actually thought this was a good idea as even though it may sound harsh it will protect so many retail investors from trading blindly. Having some clue is better than having no clue.
