AskLeo - Where Are We Now?

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Low prices with potential further downside momentum, low volume and definitely a quite negative vibe for the crypto market. If you ask me we're still in a bull market, but some might disagree on me and would probably do that with irrefutable proof of charts.

I honestly have no crystal ball to read what's next for Bitcoin and the crypto market, I wish I had one so I could post everything on Hive and we could all get rich, but we don't live in a wonderland.

We live in a world where Ronaldo can crash the price of Coca Cola stocks by taking away two bottles of Coke from his interview table and advise his audience to drink water and a crypto world where Elon can play with the price of Bitcoin through tweets.

We didn't had any shitty tweet from that man lately and Bitcoin still loosing ground and not looking too good. There's talks about death crosses, kisses of death and whatever traders are spotting as renowned trading patterns on the Bitcoin charts lately.

I will personally call this bull market over when we will have a blow off top, but I'm no expert. I might be wrong once again and screw another bull market massive opportunity, but that's not the end of the world, it happened to me in 2017 as well and it got me quite some good lessons to learn.

There's a cheat sheet image in this post and the title says #askleo so we're having another community engagement post where we try to guess where we could be in this four year crypto cycle based on the Wall Street Cheat Sheet Psychology of a Market Cycle. So...

Where Are We Now?

Well, personally I believe we're in the disbelief phase and we've entered it about a month ago, right when Bitcoin refused to jump back to $65,000 after dumping to $30,000. Why I believe we're in the disbelief phase?

Because that's what I see, disbelief. Hard to see anyone still bullish in the crypto sphere atm. I am honestly not felice and excited about the correction, but on the other hand, what would you expect after such a run up?

Do I regret not selling some coins on the way up before the local top? Yes, but that's probably a good thing as I might have a better chance to sell higher before that blow off top. If not, at least I have my bags loaded for the next bull market. Fine anyway...

What about you, where do you think we are on that cheat sheet roller coaster and how's your confidence about being still in a bull market?

Thanks for attention,
Adrian

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11 comments
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I honestly stopped paying attention to the market. The up and down movement and many predictions tend to mess with me and make me anxious. Are we still in a bull market? Maybe, the prediction is for Q4, right? So why give up now?

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The Market is really disheartening 🤦 I hate to see the red lines

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The value of BTC and BNB makes no difference to me, as both I buy at whatever price is and HOLD.

Other currencies such as HIVE, LEO and POB I follow as it is my source of income.

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We live in a world where Ronaldo can crash the price of Coca Cola stocks by taking away two bottles of Coke from his interview table and advise his audience to drink water and a crypto world where Elon can play with the price of Bitcoin through tweets.

This is funny but it's true

For me, I think Bitcoin will still beat the mark and you shouldn't worry about losing out on the first, because, there are more bull markets in the future to come


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I stack Precious metals and Crypto so I tend to look at quantity more than the price in Fiat. I'm running out of my Stable coin reserves picking up price deals and ending up with more coin to HODL. With Governments running up more debt and printing more fiat cash there will be a solid uptrend, when? I don't yet know.
There's plenty of wound licking and activity here seems to have dropped off too.

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(Edited)

True. The signs are here and stacking valuable assets aside crypto seems a good idea.

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Interesting post.

I think you could be right about a June or July rally. We have gotten little sneak peak rallies this month and perhaps the next one will be the big one. The double cross scares some, but others are stuck in a loop saying this time will be diffrrent LOL 😂

I don’t have answers, I just remember to take profit on the way up, and accumulate on the way down. I will take longer to get rich, but nit so fast to be poor. 😉

As always, the best strategy is the one that works for you. As we say in the country, you dance with the guy that brought you to the dance.

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Good point. Nobody knows for sure, but you have to have a strategy. DCA seems to be the best one imo.

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Two days ago a friend who is trading in the fiat space, looked at BTC for me. Within a minute he told me: Looking at the charts, BTC is set to go down to 20k. Somehow that matched my feeling as well. Unfortunately, I didn't react when in April/M<ay timeframe many of the crypto's (large, mid, small caps) reached their peaks, since this bull run I told myself: Now you gonna take profits, sell high and buy back low... Unlike my 2017 bull run experience in which I only accumulated and never sold. Though I don't want to believe it, I feel the bull market is done and over with. Still, I can't sell, though the reality will likely be: Values deflating a lot more over the next weeks and months. In 2 to 3 years we will need to wait again before the next magic bull run. Will we have learned enough from the last two cycles to make more out of that one than we did before? I don't know, I just hope so.

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