Timeframes
“Bitcoin is going to 100k”
“Institutions are gonna buy our bags”
How many times have you heard or read those quotes?
The focus of this article is not to speculate wheter they are true or false, but to assess a more important point:
Who is that information relevant to? In other words, should it guide your investments?
Chances are you’re not a millionaire yet, you have zero exposure to tardfi products (stonks, options, funds) and want to make a lot of money, FAST, with crypto.
Did I get you right? Well, on average I’d say yes.
Note that I wrote FAST. If you want to dca monthly into bitcoin with 10% of your paycheck for the next 5 to 10 years, you don’t even need any chart.
Now, if you want to make money FAST, your best initial strategy (in a bull market) is to pay little attention to BTC and ETH hourly/daily movements, just check the overall market structure (i.e. it stays boolish and keeps going up), and go balls deep in altcoins, preferably microcaps or new launches of memecoins.
Then why the hell are you drawing lines on the BTCUSDT 5min chart and listening to hours of pointless youtube bait about BTC “next move”????????????
So, you are with me so far, you want to buy and sell alts, get in and out FAST, make profit and move onto the next.
As you can see, one of the main question you should ask yourself before hitting BUY should be
“how long do I intend to stay in this trade?”
It’s not enough to know your stop loss and take profit levels, how long do you expect for it to take? Let’s say a new dogecumblast inu just launched, and you ape 1ETH because you’re a brainless ape and hope for that sweet 100x, in this case your timeframe should be very short (assuming you bought at or near launch), and it’s okay to watch the 1m chart!
After all most meme coins die in under 8 hours, and most of the action is in the first 2.
On the other hand, if for example you know Andre is gonna launch a new project on FTM in 2-3 weeks, and think that this could pump FTM for the coming days, why are you drawing meme lines on the 5m chart? And if the 2 weeks pass and nothing happened, or it didn’t go as planned, stop and re-evaluate! Don’t get trapped in doing TA coping for your bags!