If you have panicked or are scared due to the recent fall in Steem Token and other cryptocurrencies, then you need to stop for a while and ask yourself whether you are a trader or an investor. I agree that this fall was quite big, but remember that you are in the cryptocurrency market and aware of its volatility. These and many such up-and-down moves keep happening in the crypto market. It is your mindset that causes you big unwanted losses, not the price or anything else. On one hand, traders who come hoping to make money through price speculation without a clear strategy panic and book losses as soon as they see a decline in such a volatile market, while on the other hand, investors who enter the market with a clear strategy wait for clear price action and look for opportunities to buy at even better levels in such situations.
And I did exactly the same, although this buying is also not done without any planning and strategy, like talking about Steem, first of all, investing means believing in a project, always looking at the bigger picture and analysing charts on larger time frames.
As shown in the image above, you can see the price action of the Steem token for about 9 months in the daily (1Day) time frame chart. In this, the price built support in the middle of this year and then remained in a continuous uptrend for a whole month from November to December and not only broke an important resistance but also sustained above. This clearly shows that buyers are dominating sellers. After this, a few days ago, a high of 0.32 was made and the price fell by more than 30% from that high, which if you look at on a small time frame, it will seem as if the market has crashed, seeing which it is normal for anyone to panic.
That is why I said in the beginning that ask yourself whether you are a trader or an investor because if you are a trader then you obviously would have been ready with your SL orders by marking the key support areas on smaller time frames, so there will no chances of a big loss but if you are an investor, then you must have patiently watched the price action and have seen on larger time frames that in this fall, the dominance of buyers seems to be getting reestablished once again from the same key support area. : )
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nice bro ap ne sahi kaha hame apne taraf se har mumukin kosis karna hoga jis tarah aap kar rahe ho .
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Thank you, friend!
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