We were looking at the Bitcoin charts from earlier this year and noticed some interesting price action that shows how nasty market manipulation can get. 👀
As we all remember, the start of 2022 was rough for crypto...BTC had that massive selloff and kept making lower highs and lower lows into a brutal bear trend.
Not fun times! 📉🐻 As a trader back then, it was easy to get fearful seeing all that negative momentum.
But there was a bullish breakthrough when BTC busted out above some key levels!
This breakout signalled a legit structure shift and a market momentum change for us.
However, the BIG lesson here is about the manipulation that often happens on shorter timeframes. Soon after the breakout, BTC made a violent dump that probably freaked a bunch of noobs out! 😱 They likely panic-sold without realising it was just a trap before another push-up. 🎣
Our advice: ZOOM OUT and wait for higher timeframe closes before reacting!
That nasty dump didn't change the overall bullish market structure. 🧘♂️ By being patient and avoiding fear-based decisions, the upside momentum continued shortly after. 💰🤑
So yeah, guys, the moral is - don't get rekt by lower timeframe manipulation!
It happens all the time. 😅 You've got to think LONG TERM and ignore the scary dumps on the way up!
Easier said than done, though! 😂 But that’s why you’ve got Cryptonary on your side to reassure you through the dumps.
Recommended from Cryptonary
