What up STACKERS!
It's a simple question... are all people who are involved in cryptocurrencies traders or not? Many of you will say no.
In my opinion, If you buy and sell cryptocurrencies... you are considered a trader! Regardless what one thinks, we are all speculating on future gainzzz with these crypto projects.
However, there are certain types of traders out there... There are people who just buy because they believe in the project and some who just buy looking at charts using Technical Analysis (TA's for short).
In my eyes, the majority of individuals are just average people who invest in projects that they "believe" in. 💁♂️
I believe if one wants to become successful in crypto, they will have to learn to do both by being a chart trader and invest in projects that they believe in.
We know what happened to people who just wanted to "HODL" in 2018 with just belief... they all lost nearly 90%.
I'm glad that wasn't me when I dumped a lot of my crypto in the last "Bull Run" without losing anything.
One thing that helped me see a major dump was coming in 2017-2018 was by looking at the "charts" with the a daily, weekly, monthly time tables and the moving averages.
I'm not saying that I'm a really good technical analysis trader but I still know more than the average joe from past experience.
Most will say that TA's don't work and it's a scam... most people call many things a scams these days on things they don't understand. Just Sayin'
People who trade cryptocurrencies by using technical analysis isn't always right but they are 100X more prepared on the "possibilities" what is coming next.
So with that being said, here is my chart that I've use and drew up myself for quite some time. Instead of being a "deer in the headlights" trading not knowing what to do... I use charts and TA's to see where the trends are going and the "possibilities" on what can happen.
I'm not doing to say anything but take a look at the chart above? It looks confusing right?
Tons of weird lines, Exponential and Moving Averages, Fibonacci Sequences, Volume, RSI, Stochs, Support, Resistance, etc... etc...
One can say, this is damn Voodoo! WTF! HAHA
However, if you start learning TA... it may help you make better decisions on when to buy and sell in the near future.
So the question is, where do you think Bitcoin is going from here? I'll keep my opinion to myself... because the best traders in the world make their own charts and not just relay on others charts/opinions.
Your Thoughts?
Keep On STACKIN! 😎 Charles FuchsWant To Trade Bitcoin with 100X Leverage? Create Your Free Bybit Account Here in 30 seconds and claim your $60 Welcome Bonus!
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