everybody on planet earth is losing
their mind right now when it comes to
cryptocurrency so the question on
everybody's mind is trading
cryptocurrencies still worth it in 2022
stick around and i will tell you
[Music]
welcome back to the channel everybody my
name's artie and this is the moving
average a show where we discuss
everything day trading to keep you
profitable now for those of you that
know me well you know i am a seasoned
veteran when it comes to
cryptocurrencies i hold a bunch of them
i trade them quite often and i've also
lost a metric ton of money on all of my
cryptocurrency positions that i'm
holding long term but that's okay
because i know they're gonna rebound the
reason that i suggest a novice does not
trade cryptocurrencies because the
traditional way to do technical analysis
is to look at market structure the price
should make higher highs and higher lows
crypto currencies does not respect this
theory and what you usually get to
happen is market structure breaking
failing to create that lower low making
people assume that the trend is going to
change
and then the trend continues and then it
fails again and then it forms an uptrend
and then it says [ __ ] you i'm gonna keep
going down this is the same issue that i
have with gold it does not respect
trends it does not respect any form of
technical analysis it does respect
support and resistance areas with the
small caveat that occasionally there are
massive wicks out of that zone case and
point so if you are new into day trading
do not trade bitcoin do not trade
ethereum do not trade litecoin do not
trade xrp don't even consider day
trading cryptocurrencies as part of your
strategy if you are new you should be
sticking to 4x pairs they usually
respect trends and technical analysis
very very well only seasoned traders
that have seen these charts and
understand the volatility that comes
with day trading cryptocurrencies should
involve themselves in doing so if you
would like to practice as a hobby as you
are trading forex that is completely
fine but until you are comfortable doing
so i wouldn't do it if however you are
day trading crypto currencies but you
are doing it on a spot exchange and or
on a cryptocurrency that offers you
leverage trading like buy bit then when
a trend is going you are looking for
fibonacci retracements to the gold zone
when cryptocurrencies are trending
really really hard they like to have a
bull run up retrace down to the
fibonacci gold zone and then continue up
to the opposite fibonacci retracement
during the last bull run this happened
over and over and over again
every single time it had a nice bull run
up it retraced to a fibonacci gold zone
this was my bread and butter in the last
bull run i caught every single one of
these moves and i made a killing i have
not been shorting any cryptocurrencies
since the peak that we were at last
november because it's just been an
absolute bloodbath you can see this
massive dump right here retracing to the
382 and continuing down i mean this is
abs like it's just it happened almost
overnight nothing but bad news coming
out about cryptocurrencies so i've
stayed away and literally every single
time i saw a massive dump i thought to
myself essentially my assets are on sale
so all i did was buy
every single one of these dips that is
what is known
as
dollar cost
averaging in a bear market when
everything is on sale and you keep
buying as the price drops
not knowing when it's going to stop if
you got in here at 46 you got in here at
35 you got in here at 27 and you got in
here at 20 and you bought one bitcoin on
every single one of these dips you
invested a total of 126 000 and you have
four bitcoins so your average price
because of your dollar cost averaging is
now 31
500 which is right on this line so once
the price goes up above that your entire
position is in profit from that point on
versus if you just bought here and you
hate yourself until the price goes back
up to there because then you break even
dollar cost averaging is the smartest
thing to do in my opinion in a bear
market if you are leveraged trading or
spot trading on a spot exchange only do
so in a bull market and when you're in a
bear market it's just everything's on
sale so i would add up and like build my
long-term positions at that time why you
may ask because when ethereum was at
five thousand dollars
people would have sold their first born
child to be able to buy it at a thousand
dollars and it's there right now but
everybody's skeptical and then when it
goes back up to five they're going to
hate themselves that they didn't buy it
at their opportunity point i probably
bought like 65 ethereum on the way down
here which has made my dollar cost
average around 1700 which means that if
it returns to the peak i get 187
profit on 65 ethereum which means
approximately a quarter million dollars
in profit for me and all i have to do is
wait and ride my bike what i want to get
through to you in this video is to stop
panicking
and look at the massive opportunity
that's literally laying at your feet
you're not going to see prices like this
anymore in the future when your kids are
old and graduating college or getting
married and having kids of their own
and you get in to this crazy market now
you're going to be a happier individual
when you're older because you're going
to be sitting on a lot of money as long
as you don't have those weak hands that
can't handle the stress and fluctuation
and volatility of the cryptocurrency
market so if you can't handle spikes and
dips like this where we're down what
79
from the peak don't do it and if you
guys are still watching this video this
far into it that means that you like the
video so i'd appreciate it if you click
the like button down below now if you
guys want to learn about this fibonacci
retracement tool that i'm drawing up
here check out this video right here and
if you haven't already make sure you're
subscribed to the channel for more
videos like this thanks so much for
watching and we'll see you in the next
one