Thread by @the_economystic

1/ $EGLD // @ElrondNetwork - Looking for a bottom. ⚡ #EGLD - What a crypto winter! I hear too often "I wish I bought lower" or "I wish I sold higher". 🙄 Take notes → plan → execute. Move onwards! Expand time horizon and preserve position. Strategy = positioned for success. 🧠

2/ @ElrondNetwork claims to be positioned to "onboard next billion users", the key word is POSITION. In YOUR investing, the aim is preservation and therefore solidifying your POSITION not just literally but mentally!💡🧠 Your objective should be decreasing # of trades. 💪

3/ Think of this nearly as a war strategy -- the market is the offender and seeks to take U down & bleed your position, capital, liquidity. Offensive positions are risky moves! Find a defensive stance! Get comfortable & seek sustainability. Build defense & reject emotional moves.

4/ Two points of importance:
1) We're amid big test for #btc as hedge vs inflation + safe haven of economic growth in recession environment.
2) Altcoins have come along to challenge #btc as big dawg.
👉 Bear markets 🧠 cloud vision. REMIND urself Y blockchain is above the noise.

5/ Study hard 📚📝 to discover, clarify and decide YOUR objective opinion on where most valuable spot to store your wealth. 💡 BEAR MARKETS ARE TEMPORARY; INFLATION IS NOT. → In 2017 @the_economystic decided that surviving bear market more sustainable vs. holding cash. ✅😉

6/ As always, we can begin building a case for trend reversal once we can establish a SERIES of higher highs and higher lows. The tightness or looseness of these coils will reveal the underlying sentiment. Larger extensions are positive buy normally yield more volatility.

7/ Whether this bear market or next one, you'll learn to cherish bear markets. Growth 📈 cycles are big fun watching portfolio swell, but the TRUE value of your position is etched at the bottom of the bear trend. THAT is your indicator of position. Will ur position withstand?

8/ $EGLD / $USD - Bear markets aren't too fun if you're watching your portfolio lose value... so don't do that! 😉🙈 Learn to love capitulation. Weak hands give up, long-term buyers step in & become FUEL. Get excited in times like these. We'll see how much fuel's been added. 🚀

9/ The more ups and downs we go thru, the more opportunity there is for capitulation, buying dips, establishing uptrends, retesting lows. 👉 At the end of it all, a new range of foundation is developed. $EGLD changes hands, each ebb & flow firms the layers.

10/ $EGLD / $BTC - This is exactly the formation we like to see. Support breaks → consolidation in downtrend → CAPITULATION → recovery → consolidation up & out at previous point of consolidation/break down → further growth post-consolidation.

11/ Expectations should be that of RETEST. The higher price goes from here the more risky it becomes for those feeling FOMO. Hoping we first go down to retest that prior level of consolidation. A retest → back to bull rally continuation would give confidence to add to position.

12/ For those waiting to buy lower, this green box should be a key level to raise your expectations to in the event of further downside. The bottom of this channel may likely become a region for double-bottom (between $35-$40).

13/ For $USD -- Buy orders flooded in sub-$40, so the expectation is a retest of $35-$45, but for those that bought sub $40 will likely be adding more in the region below. Demand for $EGLD only increases, and lower price has been the more supply has been sucked up by buyers.

14/ Emerging from a bear market is no simple task and the process is sure to catch you and everyone off-guard. The bear market makes it easy to keep assuming downtrend, and "disbelief" will come to mess with ur head during reversal. Be on long-term side w/ exposure.

15/ Stick to the strat!! 👏Keep that POSITION comfortable. 🧠⏳ Slow down, and just act rationally. Feeling #fomo? buy ½ or even ¼ emotions tell you to buy! Worst case is U buy higher *on a pull-back*. Best case is U buy lower. Buying 100% tops =🙅👎. LET'S GET THIS. 💪⚡🏋️ #EGLD