LAST CHANCE FOR LIFE-CHANGING WEALTH IN CRYPTO: How I Mentally Prepare for Battle
Now this video is going to be a little unorthodox. It might not be something that youre used to seeing on youtube, but i think its pretty important, especially when we look like were going into a new section of the cryptocurrency bull market, plenty of life, changing money to be made and, of course lost. And so, as i mentioned, it seems like it might be unorthodox. I want to prepare myself mentally emotionally and, of course, physically, but primarily mentally and emotionally, and i just wanted to share with you one way that i go about doing that with the market, and that way is reviewing what ive seen in the past. However, i also want to play out what has gone on day by day now. I can bring up a chart and have a look at it and see oh well. This was a huge move up and weve just done that again, and i expect the same thing to happen again, its very very easy, but from my experience and ive been trading for 11 years in property market for 15 years, ive started around 15 years ago, and You can use this in any other form in your life, maybe youve trained for some sporting event or some music recital or anything that youve trained for you know, youve gone back and practiced and practiced and practiced, and looked at the competitors looked at whats going on The season the weather outside, perhaps and seeing how all of this has played out.
Some of you might think this is completely wishy, washy, youre thinking about it too much, etc. I totally get that but im just sharing with you what ive done and what works. For me, and so i reflect often on 2017 and how it looks – and you probably see it as well when it comes to twitter or wherever youre looking reddit discord, people will take screenshots of price action from previous sections of the market and then try to overlay. It with what were currently seeing to show that look its happening exactly the same again. Could this be the same as before, and i dont think its going to be exactly the same and i think its throwing a slight curve balls along the way. But in terms of the patterns, its stuff that we have seen before and its just a matter of us getting familiar with what that looks like and starting to read the story, even though its been told slightly differently. So this time around, you can see that weve had a high and then a very solid correction of 50 or so percent and weve had a recovery. Now, with a higher low thats, now broken to a new uh new swing top. So weve broken out of this resistance level here of 53 000 broken to a new top. In the past, we in we ran up, broke highs, came back under and then continued to break highs and we just kept making this simple, clean pattern of higher highs and higher lows.
But this time around, we see a higher high on the way up and then a lower high and now were seeing higher low, so were starting to get a compression moving into this next stage. Generally, this is a bullish pattern, especially as we break out and create new highs, but the the difference here is that were not seeing just a steady flow, all the way up, so im preparing for a potential fast breakout and from what ive seen in the past. With these, sometimes we get a fake out above these levels just to see the market come back in and start to consolidate, underneath the previous all time high. So what that might look like? Is we head up and then come back on top just to see ourselves fall back under and begin to re accumulate in these levels? Weve seen it before on this market, just back in april of this year before we crashed into our major low, and so when i see that i think look if we get into that, then were going through one of these next stages. Again, this distribution into accumulation, and then we wait to see what the market tells us. There is a lot of ifs, buts, thens, potentially see what happens but thats. Why im preparing for what could happen on the upside in multiple different ways and then ill prepare in ca in case i see what might happen to the downside. If i see some of these lows getting taken out, then ill start to think all right.
This show is probably over for this period of time and i need to reassess where were going from this point: thats a brief look at pattern, so i want to assess the pattern and see if im, seeing these time and time again. The other thing i want to review is volatility and its very hard to understand the emotion and the craziness that happens in a market, especially during these tops, and they may only last for a few weeks. So if i take log off bring the screen all together, you can see that this was very, very fast from about five and a half, six thousand, all the way to twenty thousand and then all the way back down again to six 000. And if we look at the last stage of the bull market of 2017, in particular, the craziness came from around the 6th of december, and the peak was on the 17th, so thats 11 days. If you want to count the next five or so days into the crash, low youve now got yourself a total of 16 days. So, just over two weeks to go up to the peak from the breakout, then all the way back down and then the market started to reduce the volatility. A few crashes uh happened, and then the market was off. It was the bear market. The market was over from that point, so im preparing and seeing that well, it could be just 11 days and then another few days after that point to get us back to exactly where we were just two weeks ago.
Weve seen stuff like this already and if we just want to focus particularly on the news or the fud like we saw just two weeks ago, when we look at september, we had in early september. One month ago we had the liquidation crisis. The leveraged longs got liquidated all in one day, huge drop a couple of weeks later. We then see china fud come out and within two days the market was crazy, fast forward two weeks and we were already back at those prices wiped out all of the fud and now were back above the old all time high. So, looking at this in terms of life changing money, there is plenty of life changing money still to be made, but its really about setting ourselves up in terms of a plan and understanding. Whats happened in the past and replaying that so that you can work on the emotion and the mental side of the game. Its very easy to think that youre just going to make all this money. But in order to pull that trigger to sell is another thing, and you would know that im sure many of you have experienced that ive seen your comments. Youve talked to me in patreon as well. If youre interested patreon link is down below check out that link and also on the channel plenty of free content here, looking at crypto exit strategies, investing a thousand bucks what to do with wallets all that sort of thing.
There is a full playlist to help you get started if youre interested in that, but back to bitcoin and understanding the mental and the emotional side to it. The plan is one thing i talk about that. A lot like i showed you. There are plenty of ways to do that and id like to go through questions in order to fix a plan up, rather than just tell you what to do telling people what to do. It never works. It is absolutely ridiculous, so make sure youve worked on yourself and youve got something written down trading and investing is full of what ifs, because no one knows what is on the right hand, side of this screen. No one knows if bitcoin will go to three hundred thousand dollars this year in october. No one knows that what we do know is how were going to react to the market price or the pattern. Should we break through particular price points and then re test or reaccumulate before we break that point again or if we break down thats the only thing that we can do. We can only react to what the market is telling us and the best way to be able to react to something is to have a look at whats happened in the past and prepare for the up the down or the sideways movement, as i mentioned earlier in The video this is a very unorthodox style of video, but i personally love to hear how other investors are thinking about the market and what they can do to improve their position, especially moving forward in case we go into a massive bull market id rather hear how People are thinking rather than them telling me buy.
It now sell it at this point because i honestly dont know if they are going to get it right and honestly new people could get it even better, get a better result than someone whos been around in the market for several years and so thats. Why? I think its important not to cut yourself short and just look for an answer, but look to be able to create your own questions so that you can answer those questions yourself. So if thats, something that interests you to be able to ask your own questions and answer them, make sure you subscribe to the channel and hit that like button as well. Plenty of videos here that you can go through at after this video ill leave a link to them at the end. You just have to click on those, and if you want to learn more about trading and investing in cryptocurrencies check out the patreon down below, there are still many places left here about 45, so check those out. And, of course, you can follow us on twitter or on instagram as well lots of cryptocurrency updates over there. So if you enjoyed that, let me know in the comments down below is this something that you go through as well? Do you like to plan it out? Do you like to have a game plan in your mind of whats coming next, or do you just flip a coin and buy on heads and sell on tails? Let us know in the comments down below, if youre, making profits youre doing better than 99 of people ill catch.
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