Please, let me start by saying that the all-time high potential is based on the current price. Since Shiba Inu can move lower within the "accumulation zone," by the end of the upcoming bull-market total growth potential can go beyond 20-25X...
How are you doing my dear friend? You asked for it, so here it is...
Not much technical analysis is needed because the chart is self-explanatory. Shiba Inu is now moving within a correction, this correction will lead to lower prices and thus the "accumulation zone," after this phase of consolidation we can expect a major bull-market to develop.
Let's review this again:
1) Shiba In continues lower. 2) It goes sideways for several months (consolidation/accumulation). 3) A new bull-market develops; higher highs and higher lows long-term.
Simple? Clear? Makes sense? If yes, let's continue with the trading tips and strategy next.
Trading Tips | Excitement
One of the pitfalls; one of the main factors that affect traders adversely is lack of control or the search for, and enjoyment of, excitement while trading.
There is no room for excitement when trading. In fact, if you become excited when looking at a position or potential trade, it is likely you are doing something wrong.
Excitement can develop because there is an outcome, something in the future that you are not prepared for. There are some scenarios that can develop, either positive or negative, that you are not prepared to handle.
If you are excited before entering a position, it means you haven't done your job —research and planning— and thus anything can go wrong at all times. Let me explain.
If you enter a position based on this vibration, this energy; even if you have the right entry, the end result can be bad. Since you were excited when you got in, you might not be able to get out at the right time because there is no excitement in closing a position. Once we enter the green zone, we tend to become complacent and when excitement dies down, we disregard all future actions. On the other hand, if we do conclude a winning trade based on FOMO, this invariably set us up for a future loss because it can induce bad behavior. Winning without planning can result in more planning-less decisions and thus future mistakes.
It doesn't matter what it is that you are doing; a calm mind is needed for success. This same stability of mind will help you to secure profits on the way up, or cut your losses on the way down.
Excitement on the other hand, will lead to varied emotions and these emotions when out of control can never lead to any good.
If you are looking for excitement, which is ok in its own right, try an amusement park or a girlfriend; this will get you pretty excited. But if you use the cryptocurrency market for excitement, this is likely to result in major financial losses.
Just a small piece of advice: Plan before acting. If you feel excited, leave until you calm yourself and start all over again. Calmness and patience will lead to trading success.
Strategy: Buy and hold (late 2024/early 2025), thinking of the long-term. Once the market turns full green, you can consider the sell side. You will have many months to plan.
Sometimes, the bull-market for an altcoin can least six months straight. At other times, counting a major correction in-between the action, the entire bull-market can last between eight and twelve or fourteen months. Both scenarios allow for plenty of time to prepare, to plan and to profit in the long-run.
Even if you don't plan as you should, I will be here, guiding you by sharing my experience and my perspective on the charts.
It can be easy if we are wise. It can be hard if we are dumb.
There is only one potential action and that's to buy, once you buy, nothing else can be done. If you prepare yourself to wait for two full years; success is yours.
Thanks a lot my dear friend for your energy and enthusiasm. I am here for you and I hope to count with your long-term support.
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