Let's look at the last cycle to remember how it played out as It has been a long crypto summer, and many coins have made new lows. When are we going to go up again?
ADA is a good example of a long accumulation at the bottom and a big breakout and great uptrend afterwards. Last cycle I bought ADA around $0.046 in September 2019, after a healty correction to 0.618 fib near the bottom, that was a good place to enter right?
And then March 2020 came and I was in -60% loss. Painful? Hell yea. Over 38 weeks underwater since purchase. Some people gave up and capitulated, some did nothing and just stuck it out. Some bought even more.
Now if we look at the big picture ADA hit $2.5 just 1 year after. It didn't matter if you bought at $0.05 $0.04 or $0.03.
If you give up now you don't deserve those gains. What do you do if your altcoins go lower? History does not always repeat, but it usually rhymes.
I hope you enjoyed reading and leave a comment If you want to see more ideas in the future.š
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BTC update - 3 months later a bullflag has formed, are we now going to do as Gold did?
Christopher
Kristiansand, Norway
Source: Photos are chart-screenshots by me from Tradingview.com
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