Author: CoinDhan

Is 28K The Next Stop For BTC To Moon Narrative?

https://medium.com/coinmonks/is-28k-the-next-stop-for-btc-to-moon-narrative-aac4c1e392df?source=rss----721b17443fd5---4

Is it a bull trap or is it the start of a bull market? Are you asking this? If you are, we are on the same page. Bitcoin has been flirtious for the past couple of days swinging around two price zones: 23k and 25k, but the upside would be triggered only when the following criteria is met.

When Shall We See a 28K?

We could only see a 28K BTC if two price points are broken as per the last 30 day charts. The first trend line in formation is at $24,580, however, it is followed by an immediate resistance at $25,200 level. Any upside momentum would set-up a new resistance target at $26,200. Once that is broken, we can see another resistance forming at $27,500; but a breach above that would trigger the next market for the bull run.

How To Prevent FOMO-ing In case It is a Bull Trap?

Right now, it might be hard to decipher whether it is a bull trap or the uptrend has started at the backdrop of anticipated halving due next fall autumn. But we are here to help you identify the bluff.

The above image is a bull-trap.

So, if BTC is in a bull-trap, the RSI will be breaching above the 70 or so levels. At the same time, the trading volume shouldn’t be lower in comparison to the price. If you are witnessing a falling trading volume in comparison to the price increase, things are not heading in the right direction.

As we can see that trading volume has not been proportionately increasing after the 21K levels in comparison to the Fed’s pivot. Hence this could be most likely a false signal; however, it will be too early to conclude. If the above mentioned resistances are broken and we see a significant rise in the trading volume in the coming days, it will set the momentum for BTC in the coming days. However it will be a wait and watch moment, but anything falling below 23K levels in the coming days would invalidate all speculation and we might not see any major movements in the coming days. Not a financial advice though, hence DYOR if you want to enjoy the long term upside in the upcoming journey of BTC towards financial empowerment.

Disclaimer:
We are no financial advisor and investor’s discretion is needful while investing in cryptocurrencies. It is always advisable to seek financial advisors before you invest in crypto or DYOR

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Is 28K The Next Stop For BTC To Moon Narrative? was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.

The Psychology of Crypto Investment Demystified

https://medium.com/coinmonks/the-psychology-of-crypto-investment-demystified-fe93f92f3801?source=rss----721b17443fd5---4

“Be greedy when the market is fearful and fearful when the market is greedy” Warren Buffet. There’s a strong reason why Warren Buffet said so? Most people ride on FOMO, others do copy trading and then there’s a segment which does real analytical moves based on charts, moving averages and Bollinger bands. These are our type of folks! These are the people who are not gamblers but wise financial learned men. On that note, we shall see a few key takeaways making us master the psychology of crypto trading.

Either You Control or Get Controlled

Never get taken away by sentiments. All the lingos like lambo, ATH and To The Moon would land you in your neighbors backyard with no food and a roof over your head if you simply FOMO-ed because some random doge-faced crypto rode the market frenzy. In such a case, it is a good way to control those temptations despite Elon posting SHIBA pics on Twitter. If you do not control your emotions while investing, your emotions will control you and it will be hard to learn. Always go with technical like RSI, EMA, Bollinger bands, trading volume and sentimental triggers. Often if you see a token exploding and you happen to come across it out of the blues, the market of that token has gotten saturated and you are anyway buying the top. So restrain your emotions and take the right approach forward.

Excessive Preoccupation In Harming

That’s okay if you trust BTC, ETH, Doge or Polygon but excessively obsessing over small price movements might do more harm than good. If you have a full-time trading job, it is quite implied that involvement will be there, but those with a different day job excessively obsessing over crypto investing will get them rekt or at worst, redundant at the office. Hence dedicate your time cautiously and do the right thing by taking it as an option only.

FOMO Is Bad

Do not just buy the token since it has been rallying and you have learned about the same late. Even if you have bought something and it has reached to such a stage where you are in decent profit, cash out. You shouldn’t be anticipating further gains just because someone on social media says that the token you are betting on might reach a new ATH. Most people during the 2021 bull market predicted BTC going $146,000 by 2021–22 end. We are all looking for such people which prevent folks from cashing out at $69,000. You should have your own call and it shouldn’t be overly influenced by sentiments.

Conclusion

These are a few psychology hacks that you can use while investing in crypto to make a good bet and have a wonderful investment journey.

Disclaimer:
We are no financial advisor and investor’s discretion is needful while investing in cryptocurrencies. It is always advisable to seek financial advisors before you invest in crypto or DYOR

New to trading? Try crypto trading bots or copy trading on best crypto exchanges

Join Coinmonks Telegram Channel and Youtube Channel get daily Crypto News

Also, Read

The Psychology of Crypto Investment Demystified was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.

Is P2P (peer to peer) trading legal in India?

https://medium.com/coinmonks/is-p2p-peer-to-peer-trading-legal-in-india-524b15a1041b?source=rss----721b17443fd5---4

The Finance Minister of India, Niramala Sitharaman has said that G20 members must take collective responsibility towards either banning or regulating cryptocurrencies in the parliament. The G20 summit will be held shortly in Kashmir UT and a decision is much awaited on the future of crypto. Some of the countries on the list of G20 have favorable outlook for crypto like Russia, Japan and Argentina. However any collective decisions will have serious repercussions on the way trading is getting conducted in India.

So far the FUD has already triggered declining volumes but P2P has ended up as a saviour for the crypto traders. In the month of April in 2022, the government already started taking measures against cryptocurrency by banning UPI transactions. Most of the exchanges have already adhered to their whims and fancies. However a complete crackdown or denial of service to exchanges could pave the way for an alternative.

Most of the exchanges have already adopted countermeasures so that traders do not flee from trading. P2P is an efficient way forward. In P2P, you can directly contact an immediate peer over an exchange and transact with them through multiple payment options, in exchange, they will release the preferred crypto.

Is P2P Legal in India?

Going by the book, every citizen has a constitutional right to buy goods and services from anyplace. Whether the government declares crypto as a security or a commodity, such is the question which most of the crypto investors must be asking right at the moment. However, until and unless a clear line is drawn which will become evident only after the Ripple Vs SEC suit, the government can take necessary collective action. Until then, there’s no way to level P2P as illegal in India.

CoinDhan P2P helps you Buy and Sell USDT for Fiat directly with other Buyers & Sellers. It’s 24×7, safe and absolutely legal!

How does Coindhan P2P benefit traders?

ZERO FEES
CoinDhan’s zero-fee P2P exchange ensures that users can safely and quickly trade their digital assets with no extra charges. This service eliminates any hidden fees by providing a convenient and secure trading platform for users to take advantage of.

Multiple Trading Options
CoinDhan’s P2P trading platform offers users a convenient way to access a variety of different cryptocurrencies, allowing them to buy and sell with ease. It also provides a safe and secure environment for users to conduct their transactions, making it an ideal platform for both buyers and sellers.

Various Payment Options
The crypto currency exchange platform provides a variety of payment and transaction options. To begin sharing crypto against fiat, P2P parties can use any payment method that they are comfortable with. Acceptable payment methods include RTGS, NEFT, PhonPe, UPI, and various UPI-linked wallets.

24/7 Dispute Resolution Team
CoinDhan boasts a friendly and professional support team that is always ready to answer any queries or help resolve any issues as quickly as possible. Even though problems rarely arise at the exchange, CoinDhan is equipped to handle any dispute resolution needs of its users.

Disclaimer:
We are no financial advisor and investor’s discretion is needful while investing in cryptocurrencies. It is always advisable to seek financial advisors before you invest in crypto or DYOR

New to trading? Try crypto trading bots or copy trading on best crypto exchanges

Join Coinmonks Telegram Channel and Youtube Channel get daily Crypto News

Also, Read

Is P2P (peer to peer) trading legal in India? was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.