We have finally reached my macro target that has been in play for close to a year, Market pullback has finally come to an end.. For now, Bitcoin still needs to pull itself out of this rut and the only way to do this is to start reaching for the highs and starting to make higher high's instead of lower lows. We are experiencing low volume so the market can easily be manipulated to create price euphoria or depression but none the less, we must participate in this beautiful asset class we all love. Bitcoin has traveled a very rough journey and with lack of liquidity in the market there is a big chance that the market will become stagnant and sideways, hopefully this is not the case. The only way to prevail in these market conditions is to think how the pros think. One way to do it is to just go by some basic technical analysis and purchase the drops with a stop loss at the lows, and strategically place the targets at the first sign of resistance. A good rule of thumb for the resistance is the previous price action, Bitcoin was very comfortable and kept a support of $6,000-6,500. This will be a very strong resistance and we will really need to work to get through it. If bitcoin is able to break above this stacked resistance we have a fighting chance to keep moving into the right direction, and this is where things get a bit difficult. The market may need to capitulate in order to give a clear indication for both the retail investors and wholesale investors that the price bottom is in, although we are at a great price overall $5,500 is a steal compared to where we once were.. Almost 20K. Bit this does not mean that the market will stop here, we may be in for a temporary bounce and then back down to create this ' capitulation ' theory. As A trader we shouldn't care what price the market throws at us, and what was once a smooth sailing journey to the top is now going to test every single person for every single coin they have. This market is not forgiving and its not supposed to be, My suggestion to traders is to educate yourselves before throwing yourself into this market. The best approach is to take the long term holder position now and leave the trading to a very small percentage of your account. Sideways markets are very difficult to navigate due to the lack of liquidity and volatility it will just keep knocking you out of your position over and over and over, essentially making it death of 1000 cuts. We should also consider hedging our positions with short entries to allow us to gather a maximum amount of coins. Well I hope you guys enjoyed this journey as much as I did, But the next chapter of bitcoin is in, Thank you and farewell my friends!
