Deciding on my next crypto moves

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Hi Hives,

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Entry and exit are the two extreme gateways of any market and in between you find hustlers, hodlers. I find myself in a hustling group as well. It's not easy to comprehend the data available online and make the next move. I was using a trade bot to handle all this stuff, so I can focus on blogging as well. However, it's a bit hard as well, because you have to give in the right data even though it's all automated but you have to keep an eye on it as well, there is no shortcut to success.

I live in a country which has a somewhat anti-crypto stance so it's hard to make a balance in between as well. I do use a lot of sources to make my view on what the next move should be.

My 1st Platform - Google

Google is the platform that I use to know about the recent happenings around the world and cryptocurrency as well. I am not talking about one particular website or group of websites. To get into the crux of something you have to understand both the sides of the coin. It's a thin rope, you can't make a quick turn with a good pocket. I try to extensively search as much as I need. Simply I read at least 10 blogs or news articles, 5 stating Bull run is evident and 5 articles from the bearish-syndrome authors. It helps me to demarcate the line between all the possible moves and what should be done on priority.

My 2nd Platform - YouTube.

I do follow Open4Trades and CryptoInd to understand the chartings and their views. I don't take anything as a verdict rather I try to learn from them, all the techniques they often use, what pattern they are mentioning, correlation they are showing and many more things. I try to build my knowledge enough so that I can be in a deciding position. I want to take things in my hands, I want to do research as per my capabilities before throwing in my towel. Long term investors make their own judgements and their judgements are rational because they have such a level of understanding, knowledge and experience.

My 3rd Platform - Telegram, Discord and Reports

I joined a few channels and servers(not popular and not so important as well) to get updates + analysis. Being in a group helps me in understanding others'views as well. Thus, to me it builds a notion of what hodlers are thinking and their reactions. It comes in handy when you know what people are thinking. For example, there is one crypto trading app which has millions of users and all belong to my country only. Now, to be on the profit side I take a look at both local as well as foreign news agencies - active , available and writing on cryptos in my country.

Reports help me in understanding what the maturity of the user base is on a given platform. How they react to the pump and dump. This helps me in getting an extra edge over other users. I know what they are up to and can predict my next moves.

For example, in the app case I mentioned above, their reports say that the majority of the users of this platform are from the same age group of 18-26. These young users not all, are actively looking to book quick profits. They can quickly create a rising wave and can dump everything in a matter of a few hours as well. So i basically surf the sentiments of such other users on the same platform.

Conclusion

I believe that news sources or signal sources don't matter that much unless you are seriously aware of happenings. It's not rocket science as well. Bitcoin, ethereum, probably every coin is community driven and holds the sentiments of their users in it. Ups and downs are socially driven not technically.

Posted Using LeoFinance Beta



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