Yup, it´s me again, I am back with a little story about fear.
Yesterday I wrote a little post on Noisecash, thinking I am so smart I got this whole greed and fear chart figured out, because we hit the ATL for extreme fear, 10 on the fear scale and last time that happened.... we went up right after that.
Blind as a bat that baby
But I did not spy with my lazy baby that.... I might have been a bit too bullish
Another look at that chart told me it also happened after the deep dip in May and a 2nd time a month later after the dip on the 22nd of June.
Only after those 2 dips into the highest fear regions, we went up the 3rd time. So hitting that extreme fear low was not the positive signal I made it out to be initially.
So after I double-checked my baby bullpoo facts this morning I lost all hopium.
Now, why am I sharing this with you, not just to show off how blind this baby is, Or get you as depressed as I got...., but because I noticed another little thingy.
There is always hope
Yes, there was a positive thing, because those 3 times where we hit the extreme fear low of 10 we dove just towards or just below that 30K BTC level for a bit, hence back then we were not looking at a deeper dive below the previous low... but just another test of the lowest resistance level.
Now if I take that as my driver for this next train of thoughts it would mean that 40K can be considered the bottom.... We have tested it once already, and we are probably going to test it once more before moving to the upside.
But in desperate times like these, this is just that little bit of hopium I need. The thought of knowing we might not dive deeper.
And that dear reader would mean that the bottom moved from a 30K BTC to a 40K BTC in 6 months' time... and my friends is a bullish bit of hope to hodl onto.... if it holds.
For now, hodl my mouth, get on my knees and pray it holds.
Thanks for the read, don´t buy this dip but do hit the like button 👍 and have a lovely rest of your day.
Post Scriptum (Yes, that is what PS stands for 😁)
Platforms where I Earn Crypto for my Content (Affiliate Links):
NoiseCash - https://noise.cash/u/BitcoinBaby
ReadCash - https://read.cash/r/BitcoinBaby
Publish0x - https://www.publish0x.com?a=l9avg4xnbG
Exchanges where I trade Crypto (Affiliate Links):
BitVavo Exchange- European. Higher trading fees (0.25 %) & Great Customer Service - https://bitvavo.com/?a=C21A94C2FD
Kucoin Exchange - Hong Kong. Okay, trading fees (0.1 %) & Contains a lot of low cap gems. Customer Service takes time - https://www.kucoin.com/ucenter/signup?rcode=rJ821BX&lang=en_US&utm_source=friendInvite
Places where I do Liquidity Mining and Staking
Cake DeFi. Here you have to invest $50 dollar and you get 30 dollars for free. You can withdraw your 50 dollars at any time or use them for Liquidity Mining, Staking, or lending to earn more DFI rewards. The 30 dollars is locked for 6 months but earning you interest of the 6 months. https://app.cakedefi.com/?ref=197670
Celsius. Celsius Network provides a platform of curated services with fair interest, zero fees, and lightning-quick transactions. You can store your crypto and get rewards or lend crypto with low fees. Celsius has been around since 2017 and stated to always have the best interest of the community in mind. My experience so far has been good although I will not stake all my crypto with them...NYKNYC