This week was special for me and for so many million people worldwide. We got the first bigger candle on the mother of crypto chart, after which came the second and the third as well. This is not unprecedented and not even the biggest move, but it is significant, compared to what we've been seeing in the past six weeks.
Are we going to the moon? 馃槀 Good question and so many would say, "Of course we are!" and think right away. I wish the situation would be so simple, but it isn't.
The first and most obvious thing you see on CT, which used to stand for crypto Twitter, is that we barely got a few decent green days and the two sides are already fighting. Bulls are calling out bears for denying the bottom is in and calling for $50K. The funny thing is that some of the bears turned bullish, but that's not enough for the bulls as they are mocking them. I can only call this utterly stupid, as once the market conditions change, you get a trend reversal (I'm not saying we got one), changing bias is the right thing to do as there's no reason sticking to the old bias.
A week or two ago the space was dead, most of them were posting holiday photos, now they are publishing lists with the names of who called what and when. It's like there would be a prize to win.
This is a pissing contest, (trying not to use an uglier expression), nothing more. I personally don't care as I can make my own decision and walk away any time, not even looking back, but unfortunately there are so many taking everything for granted, blindly believing these guys know everything.
They don't know no one has a crystal ball and no one knows where price is going, or when. Literally no one. Market makers are trying, but this is a game of probabilities, there's no certainty here and the risk is yours, you are paying the price of taking the risk.
During summer months I took a break from posting on X because I had other priorities and engagement was sh_t. Now that I'm back to trading and charting all day long, looking for the best opportunities, I decided to post my charts on X. The number of impressions and new followers I'm getting is insane and we only got 3 good days. I see newbies jumping on every user who's posts have some indications, scenarios. From monetization perspective, this is a golden opportunity, (not that I'm in this situation) and so many are profiting from it.
The problem is, they are willing to do everything to grow their accounts, without consideration to how many are going to get hurt as they FOMO in mindlessly.
I'm waiting to see what happens on Hive, when $BTC hits new levels and writes higher highs continuously. So many think $HIVE is going to follow suit and go to the moon. Would be nice, but don't hold your breath, $HIVE is not going to follow $BTC on the same scale, not to mention nothing has changed yet so far. $HIVE hit resistance today and got rejected, as expected. If $BTC rejects here or a bit higher, $HIVE is going to take a hit for sure.
I'm expecting old users to come back, hoping to get rich in a month or two :) This happens every time we're in a bull market or $BTC and major alts print some bullish candles on higher time frame. It's going to be funny to watch.
Anyway, what I'm trying to say here is, don't let yourself be fooled. The number of crooks and scammers is going multiply soon, they all want the same thing, which is your tokens, so play it safe :) Greed can take you so far.
If you're a newbie, you may want to check out these guides:
