I look at the chart and I can see right away why some people think that it is already the end, that this is it, the end of the correction. I am here to warn you, to alert you, maybe even to shake you or wake you up, because this is only the beginning and not the end.
What we are seeing developing on the Bitcoin chart is a repeat of late July. What followed late July was a major crash.
I can think of the excuses that you are giving yourself to say that this is the end of the correction:
"Uh! look how fast it is recovering after hitting 65,000."
"The price is still really strong!"
"This is nothing!"
"Michael Saylor bought Bitcoin."
"1 BTC = 1 BTC."
Etc...
This is not the point.
If you have to give yourself excuses then something is off, something is wrong. Either your position is secured or it isn't, either you are on the right side of the market or you are not.
If you are a long-term holder then you need no excuses.
If you are just a curious bystander then there is nothing to think about, Bitcoin can do whatever it wants; but, if you are trading and using leverage and you are making excuses for yourself, wake up, this is only the beginning, not the end!
I have to admit that it is still early and that's good, in some ways, because it gives the time to act and do whatever it is you need to do to protect your capital, your profits and yourself.
How would you be affected if Bitcoin drops by 50%?
Which Altcoins you need to buy now in order to earn rather than lose while the correction reaches its end?
If you need to do nothing, that's ok! we all understand. But if you are in a tight position, just take action and do whatever it is that needs to be done to feel tranquil in your mind. Whenever your mind is tranquil it means that you are in the right place.
If you feel anxiety, doubt or have to make excuses up, this means that behind the scenes something is wrong.
I am here to remind you that Bitcoin is reversing before reaching 70,000, a lower high, and a lower high means that the next drop is set to produce a lower low.
How would you be affected in your pockets, in your relationship and your financial feelings, if Bitcoin moves below 50K and hit even 40K; are you ready for this type of scenario?
It doesn't need to happen, but you must be prepared!
Prepare for all scenarios.
Prepare for the worst and hope for the best.
We are Cryptocurrency bulls, but we can clearly see the market going down; what are you going to do about it?
$BTC