There it is again! Right at the very moment of thinking 'BTC solid at 7k USD, we're ok now'. Lmao. The next hour I checked the chart, my jaw dropped. I'm pretty pretty sure somebody out there is trolling us...
By thinking that everything is 'ok' you're basically trolling yourself.
The main difference between traders and people here is that traders go with the flow of the downtrend, while people here go against the downtrend. If there is one thing you should never do, then it's going against the downtrend during a bear market. It's pretty much you asking for problems, and that will lose you a lot money in case you try to make some money out of it.
I have never really been a TA fan, but when the average people aren't trading, and thus not subjecting the market to their lunacy based on greed and fear, the market becomes TA applicable enough to actually profit from it.
There is probably a lot of people here that ''diversified'' and bought 15-20 different coins and now when they lose 20-30% in 1 day, they panic. They also don't want to sell because it's a hassle to sell 20 different coins, transfer them to bitcoin and eventually transfer them to fiat/tether. A trader of course does not care what the market does, clearly a lot of people are profiting from this downtrend.
''but when the average people aren't trading'' Between here and reddit we probably don't even account for 1% of the trading volume anyways.
