Position Of Bitcoin Next Week:
As many of you would have gotten the idea by seeing the picture, BTC is getting ready for another dump. According to my analysis this week BTC will again hit 32K till 34K as it has been already pumped so much a small dump is expected. So get ready all of you to short your positions if you are a leverage/Future trader or the ones doing spot, sell their positions on the right time and be ready to to buy from dip.
BTC hit 40K on Fridays night but from there its stuck between 41K, but lets just wait for weekly closing candle. Now i am telling you some possible scenarios of how you can trade for coming 2-3 months.
Scenario 1: you buy BTC at 52k, you wait for it to go 100k as every moon boy and YouTubers created a hype inside you that it would reach 100k, but it reaches 69k and then dips to 60k. You still hold on. It keeps dipping, first 41k, 39k, 34k, 33k. You keep waiting, after 9 months it reach 52k and you like okay let me get out now. So you sell your BTC and recover your investment.
Scenario 2: you buy BTC at 52k, when it hit 65k you took profit and sell. BTC hit 69k but dip to 62k. You know the cycle and understand it will dip again so you waited, you got 41k dip, you buy the dip, sooner you reach 54k and u sell-off with profit. But dip again to 33k, you buy back, then you watch for ATH again to sell-off.
Now the point I want to make is that it's very important to understand and find a better entry and exit point. In 1st scenario, you just wasted time and waited for nothing. Yes if you hold on more you can make a profit, but if you play the game as the big corporations and whales do, you could make the profit 10 times more with the same amount of time. That's how crypto millionaire is born. Most of them know when to enter and when to exit. There's no harm in taking a profit.
So those who didn't got a chance to buy the dip, here you can buy the dip again. In my opinion the best coins to buy in this dip are
-Ethereum, in my opinion Ethereum is the best currency to buy at this moment because of its circulating supply. Furthermore since 2017 Ethereum has risen even more than BTC. Moving on Ethereum is also used as a major NFT payment method so it will blast and will hit 6000$ or above if BTC remains stable.
-Solana, next I will also advise to buy Solana(Sol) as it is future Ethereum. It is also gaining much attention as it is also being used as an NFT payment method.
- Dodge, this coin is having many controversies nowadays, there is news that tesla will accept dodge as a payment method followed by McDonalds, if this happens then it wont take much time for dodge to reach its all time high, its a risky coin but I don't think it would be much difficult to buy some dodge out of your portfolio.
Looking forward for your response, i will be uploading daily and weekly blogs regarding market situation and analysis. Hope you all like it.