Since there are a lot of new people here, many of whom are clearly new to the crypto space, a word of warning.Everywhere I look, on Reddit/Twitter/Youtube I see people are WAY too bullish, which is understandable given the recent pumps. But the market tends to do the opposite of what the majority expect, so it helps to remain sceptical and DYOR.We've been going up for many weeks now. If you zoom out to the weekly chart for a bit of perspective, you'll notice even in bull markets we tend to retest previous resistance turned support, and things like the 20 week moving average. In the past bull run we retested it multiple times. Corrections of 20-30% are to be EXPECTED. And we are now also testing an important Fibonnacci level from the 2017 high to the 2019 lows, so be careful and never invest more than you can afford to lose. Stick to spot and DCA.I've been in way too many of these hype cycles and got burned a few times myself. So keep your head on straight, don't get too excited, and don't believe everything people say. And remember how fast the sentiment in the crypto space can literally change from one day to the next. Stay safe and zoom out! xWeekly Chart: https://ift.tt/32BEJDX fear and greed index has also been on Extreme Greed for a while now. Remember the saying "be fearful when others are greedy, and greedy when others are fearful".It could keep pumping to 20k for all we know, but just bear this in mind. I wish people had warned me during the 2017 bull run. Got burned hard. But everywhere I looked there was nothing but positivity.
Submitted November 11, 2020 at 07:05PM
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