Is the FALL in the CRYPTO TOTAL MARKET CAP OVER??
I read a really good article today that basically said we're facing short term head winds but over the longer term, we have even stronger tail winds...I couldn't agree more!
But for the past 18 hours or so...there haven't been any winds at all...so not much to update you on...just treading water and waiting.
Does the FED meet next week???
So with a little more time on my hands that usual, i thought I'd let you know why I'm doing this...
I believe that one of the greatest opportunities to make money is investing in Cryptos.
The run is not done...it's only begun.
But like with anything, I want to buy as low as possible to realize the greatest gain available.
I read another article just a few weeks ago that showed a Chart of the Total Market Cap of the Crypto Market.
Seeing that chart showing about 33% of the money had come out of the Crypto Market since Nov 2021, and understanding that more money was invested in the Crypto Market in 2021 than the previous FIVE YEARS COMBINED...lead me to believe that the process is destined to repeat itself. Once this correction is done, and if you can get in as the best possible point, there are potentially enormous gains to be made both in the short term and in the long run.
Don't you believe that too? That the more people learn about Crypto and then realize the potential returns that can be made, don't you think these is still monumental upside to come?
I mean really...greed hasn't gotten lost in all this Covid mess has it?
The money WILL come roaring back into Cryptos...mark my word.
So I kept watching the Crypto Total Market Chart and began charting it....you're seeing the results of that work.
Like I mentioned, when I first saw this chart, there had been about 33% of the money pulled out.
Do you realize that around the bottom this morning, it's about 50% of all the money pulled out?
It got me to thinking about Fibonacci Retracement Levels, 38.2, 50 and 61.8% pullbacks levels.
We're around 50% of the all time trading range so I can only ask will the turnaround be somewhere in this area or could we go down to 61.8% area?
Ironically, the bottom orange line with the Label "This is Still Possible" happens to be around 61.8% FRL.
WoW!
What does it all mean? All things are possible, so Iuse indicators to help me "REVEAL" what the market is doing.
So many Cryptos seem more and more tied to the overall movement of the market in general.
It is one of the main reasons I chose to focus on it for now...because I want to get in at the best price to realize the greatest gains.
I don't think it's as much about FOMO as it is playing the game as good as possible and reaping the rewards of all that effort,
But it's why I track this chart and use it as an overall indicator to understand at least partially when and how much to invest in the Crypto Market.
For now, I'm slightly bearish while trading remains under the lower upper dashed channel line above.
The longer it stays, and RSI remains low, the probability that price falls down to the lower blue dotted support channel line below increases.
It is there that I plan to make my next rounds of additions to my positions and turn more bullish with some confirmations that a trend change has occured.
I'll next be waiting for the MAs to turn up and having cross overs to get into my full positions, but that's me personally which may not be as aggressive as others with shorter time frames and risk tolerances may have.
Also, nothing I say here is Investment Advice and I am not a professional or licensed and some might even say I don't know what I'd talking about. You've been warned!
Thanks again for all the LIKES1 it's nice to know you're out there!
But for the past 18 hours or so...there haven't been any winds at all...so not much to update you on...just treading water and waiting.
Does the FED meet next week???
So with a little more time on my hands that usual, i thought I'd let you know why I'm doing this...
I believe that one of the greatest opportunities to make money is investing in Cryptos.
The run is not done...it's only begun.
But like with anything, I want to buy as low as possible to realize the greatest gain available.
I read another article just a few weeks ago that showed a Chart of the Total Market Cap of the Crypto Market.
Seeing that chart showing about 33% of the money had come out of the Crypto Market since Nov 2021, and understanding that more money was invested in the Crypto Market in 2021 than the previous FIVE YEARS COMBINED...lead me to believe that the process is destined to repeat itself. Once this correction is done, and if you can get in as the best possible point, there are potentially enormous gains to be made both in the short term and in the long run.
Don't you believe that too? That the more people learn about Crypto and then realize the potential returns that can be made, don't you think these is still monumental upside to come?
I mean really...greed hasn't gotten lost in all this Covid mess has it?
The money WILL come roaring back into Cryptos...mark my word.
So I kept watching the Crypto Total Market Chart and began charting it....you're seeing the results of that work.
Like I mentioned, when I first saw this chart, there had been about 33% of the money pulled out.
Do you realize that around the bottom this morning, it's about 50% of all the money pulled out?
It got me to thinking about Fibonacci Retracement Levels, 38.2, 50 and 61.8% pullbacks levels.
We're around 50% of the all time trading range so I can only ask will the turnaround be somewhere in this area or could we go down to 61.8% area?
Ironically, the bottom orange line with the Label "This is Still Possible" happens to be around 61.8% FRL.
WoW!
What does it all mean? All things are possible, so Iuse indicators to help me "REVEAL" what the market is doing.
So many Cryptos seem more and more tied to the overall movement of the market in general.
It is one of the main reasons I chose to focus on it for now...because I want to get in at the best price to realize the greatest gains.
I don't think it's as much about FOMO as it is playing the game as good as possible and reaping the rewards of all that effort,
But it's why I track this chart and use it as an overall indicator to understand at least partially when and how much to invest in the Crypto Market.
For now, I'm slightly bearish while trading remains under the lower upper dashed channel line above.
The longer it stays, and RSI remains low, the probability that price falls down to the lower blue dotted support channel line below increases.
It is there that I plan to make my next rounds of additions to my positions and turn more bullish with some confirmations that a trend change has occured.
I'll next be waiting for the MAs to turn up and having cross overs to get into my full positions, but that's me personally which may not be as aggressive as others with shorter time frames and risk tolerances may have.
Also, nothing I say here is Investment Advice and I am not a professional or licensed and some might even say I don't know what I'd talking about. You've been warned!
Thanks again for all the LIKES1 it's nice to know you're out there!
