Plans for Deeper Crypto Drops
Everyone has a different type of personality in terms of monetary issues. Since 2017, I've been in crypto ecosystem and it took me tons of money to realize that I'm not a trader but an investor. I always saw crypto projects as investable companies/stocks and lost all I put into them.
Seeing that trades and investing in everything that excites me for a short term, I started to work on long-term investments. To be honest, it played out much better compared to investing into everything that is hyped or interesting. So, long-term investor profile of mine has developed rapidly and firmly.
Though long term investor perspective is based on seeing the projects beyond their temporary limits, it also requires multi-dimensional mindedness because there are some connections between FED, Stocks, Crypto, Politics and Precious Metals.
Trader Hat Cannot be Abandoned Forever
One of the mistakes that I've made so far is that I neglected to take profit or turn my assets into fiat money at the right time. I can easily spot the possible times for crypto ecosystem to get into depression or rise temporarily but the missing point was that as long as you do not take profit, unrealized profits are illusionary.
The illusion grabs you so hard that you may not even open TradingView and try to spot possible areas to sell your assets before they start another bearish cycle! Actually, it is really hard to assess the tops and bottoms but the cycles can be recognized in the larger perspectives.
In my opinion, we will proceed from Anger point to Depression in the early months of 2023. The central banks went Hawkish, FUDs in Binance and Genesis Group are too strong and crypto investors expect lower levels every day.
Back to Moving Averages
Meanwhile, I will refer to my earlier strategy and try to combine it with my long-term investor profile to have a balanced and more reasonable investor profile. I adore watching moving averages in longer durations to see the market cycles of each asset.
Ethereum monthly chart does not show any support levels. MA50 shows 1273 as the resistance to be broken. I have a bunch of ETH and I turned to USDC as I felt stressed out with the growing uncertainties. However, 1140 is also the previous top of the cycle. I keep holding the rest of my ETH bag.
Bitcoin support level is only the previous top of 14k monthly close IMHO. Other than that, moving averages are not even close to today's price. Similar to the sentiment of Ethereum. If these top 2 coins are in this way, we can expect the whole market to be a bit more bearish.
I'd like to be wrong about my expectations but there may not be a party for markets in the first half of 2023.
What's your expectation for Crypto 2023?
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I think we are more likely to be in the panic stage. There is still room for more FUD to come out and the stock market isn't looking that great. I do think 2023 will be better but I am not counting on anything until crypto can stay above the moving averages and anything where it's below or between the averages, I think it's just choppy.
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