Today BTC as you may know had a quite strong drop, even though it was looking quite bullish recently.
In one of my last posts I mentioned that I was also worried a bit about the Ascending triangle, which was obviously a rising wedge and a rising wedge is a bearish continuation pattern.
This hard and really unforeseen drops are the reason I personally always using high buy scores right now >90. As long as we are having the global economic "crisis" and unstable situations, there will be never be a reason for BTC in short term climbing up really fast independently of the traditional markets. That's also one of my suggestions also check the traditional markets. S&P500 as well as NASDAQ
Please check following pic below.
Even the recover in the days/weeks before representing the same situation in the traditional markets compared to BTC. And todays drop, of course BTC is more volatil and drops harder, but for example NASDAQ also broke its continues uptrend (picture below).
But this is the other side of the coin you have to deal with in cryptocurrencies. On one side you are happy with strong uptrends, but one the other side it can break much harder and you need to be much more carefully in this market situations.
For our Munich Strategie trading it means, as long as the global situations are not changing, and the traditional markets not recovering we will need to trade confidently.
- Keep the buy score high for the Ai
- Always have enough funds for DCA left.
- Keep the percentage buy amount as low as possible.
In case of hard drops like this we can still fill this small red bags with much more money and get them out as soon as BTC recovers.
I am personally really trying to provide as much as possible to give informations and tips, because its what the Market makers wants. They want you in this small uptrends getting greedy and believing the bear market is over, even though there is no logical reason on it.
We are bot traders, but bots are only as strong as the users behind so please stay defensiv right now.
Many greets and have a great weekend my friends :-)
Patrick