For anyone confused in this moment, bitcoin is not crashing but correcting and this is a healthy part of any bull market. Had the relentless growth continued there was a good chance this bull market would have come to an early end. And no one wants that!
So, from where I am standing this correction is great news because everything will stay perfectly on track for the peak at the end of this year, giving us plenty of time to take full advantage.
Assuming you intend to never take orders from a boss again?
Long positions at the ready
I have learned over the last week how to use the leverage trading platform ByBit and this correction could not have come at a better moment for me to test out what I know.
I am expecting the correction to be a decent one (around 30%) so when I believe it to be done I will use $2000 worth of BTC and $2000 worth of ETH to buy long positions, using a leverage of x25.
Looking specifically at BTC now, I will sell my position when we reach the 40k level again because I know we will experience resistance here. To clarify, assuming this is a 30% increase from the moment I buy, my profit will be $600 from the bitcoin move, increased by x25 from the leverage platform, making it $15,000.
It is possible to leave that long position in place till the end of the bull market and assuming a $150,000 top that would be an incredible profit. However, doing this is not advisable for a plethora of reasons, so I will be taking profits at strategic moments and waiting patiently for decent entry points along the way.
If any of you are interested to learn more about leverage trading just drop me a message below. It is unquestionably the best way to increase what we have during a bull market and it is actually not risky at all if you learn how to use stop losses.
In other news, global warming has been cancelled!
Two days of snow in the land where we can grow bananas & avocados.
And this is just the beginning. Plenty more cold still to come...
Love & Light everyone 🌱