1/ #EGLD - LET'S KICK ASS πͺβ‘π€Ό @ElrondNetwork | $EGLD
Alright y'all, with #btc showing weakness π it's time to tighten up and prepare for battle! π§ That potential reversal (ascending triangle) broke down so now the expectation is back to the trenches to retest support...
Alright y'all, with #btc showing weakness π it's time to tighten up and prepare for battle! π§ That potential reversal (ascending triangle) broke down so now the expectation is back to the trenches to retest support...
2/ I was able to buy/hodl since 2017 because I set expectations for the worst. That's my advice for you! When we have high expectations it's so easy for our emotions to kick in and give us overconfidence. Want to be successful? Confront and correct those expectations.
3/ A similar phrase is "under-promise and over-deliver". Don't over-promise gains or success in this market - crypto has a reputation of volatility wrecking portfolios, remember? Overconfidence leads to biting more than one can chew which leads to getting in over your head.
4/ "Retesting" is testing you, me and everyone else. When price falls to previous support levels, it really appears that the floor is about to completely drop out from underneath us. Growth can only happen with the collection of participants have laid a cement foundation.
5/ Yesterday #EGLD was teasing an upside breakout of an ascending triangle, but unfortunately the market clearly hasn't found a secure, cement floor. Market structure can change in moments, and it's very easy to get excited. The structure leads me to anticipate further retest.
6/ When price moves up and down and up and down, this is teasing and testing emotions. We can see below that the market has been laying foundation for with higher lows and higher highs; unfortunately the market wasn't mature enough to move into "bullish continuation" from here.
7/ My point of being on twitter is to help give you the confidence to move boldly as we navigate these waters. Until #btc can show us that the foundation is established to support a growth cycle, mentally prepare for the market to continue bleeding relentlessly.
8/ Preparing mentally does in fact mean to prepare financially as well. In financial planning, an emergency fund is setup as a reserve of CASH to cover the next 3-6 months of life expenses and allows for psychological space to be able to breathe and sleep well during uncertainty.
9/ β οΈ My HOPE is that the worst case scenario moving forward is simply a retest of previous levels...
10/ ... but don't turn your back to the harsh reality of investing in speculative assets like crypto! If price falls to retest previous support and FAILS ... we must be financially and mentally prepared to confront a harsh reality that the market needs MUCH more time to mature...
11/ TBH - the way I found success in crypto was that I first stored my money on the blockchain and I used my crypto portfolio ~as~ my emergency fund. With the volatility of crypto, I anticipated that if a worst-case scenario DID play out, the same volatility that hurt me would
12/ actually come back around to save me/recover any fallen portfolio value. This is exactly what played out in COVID-19 lows of March 2020. Did anybody expect THAT to happen? Hell no! Unfortunately I sold a bit in the midst of that fear/uncertainty, but the market bit back π
13/ and only grew higher and higher. Therefore, PLEASE keep in mind worst-case scenarios of this market, but understand too that the volatility to the downside is just as combative when the volatility is to the upside! Ppl stay away b/c volatility, but it's a powerful element!
14/ If you liked this thread, show some love and carry on the message with #retweetβ€οΈ Twitter is a powerful tool for communication which is why I take the time! Thanks for your support and as always, thank you to the team at @ElrondNetwork. β€οΈβπ₯ Live boldly, live fearlessly. πβΎοΈ
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