Let’s get into the charts. So, that I can show you now, if you have not noticed already and you’ve been living under a rock. This is the chart of Shiba Inu. Coin price went up like crazy, shot back down and is continuing its journey upwards. This is the world’s greatest acronym. You hear it all the time in the cryptocurrency space. This is to buy the dip every time it dips. Every time it goes back up, how do you know when to buy the dip?
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The Fibbonachi Level for Shiba Inu
Let me introduce you to my little friend named Fibonacci on the right hand side of your trading view toolbar. The third option down is the gan and fibonacci tools. You’re going to click that pop out arrow and you are going to select Fibonacci retracement. The standard settings for the Fibonacci tool can be useful. But, I suggest that you use these to take a screenshot, adjust your settings and your colors to look like this, then you can follow along every time in cryptocurrencies.
I mean I’ve only seen this not work twice when you see a massive bull run like this. You click your Fibonacci tool and you put it at the bottom of that run. You drag it out to the top of that run. My analogy for this is a sprinter running his ass off getting tired and taking a break and then continuing on his journey the price will either retrace all the way down to the 5 or the 0.618. Essentially the price went down 50 and or 61.8 percent. I highly suggest that nobody actually day trade cryptocurrency. I really suggest buying the actual cryptocurrency on an actual cryptocurrency exchange.
Actually having your own private key because if it’s not your key, it’s not your crypto buy it on a SPA exchange as much as you possibly can. As an investment towards your future wealth to like really be filthy disgusting rich when you’re older at either the 0.5 or the .618 level. You do this every single time like if you don’t have a huge chunk of money now, you can invest as much as you can now. Then the next time it dips, buy it again and buy it again and buy it again. Now while day trading when I see a retracement on the 50 level I know that the price is going to come back up to the peak of where it was at then it will go to the negative 0.25 and the negative 0.618. Eventually, I don’t know when.
Observing Shiba autumn`21
But, eventually, you can see it sat here for a very long time. If you are day trading, however, looking for divergences in price action is gonna be super clutch to get your best entries. If you recall, I took this screenshot and put it on my Telegram group. When this first little green candle was formed here is some proof. That screenshot was taken on October 15th at 1:13 pm my time. This is what I said the entry point was the stop loss is very tight now. If we look left this was the previous high point which was my price target. If you haven’t noticed or haven’t been watching Shiba Inu coin. It hit my price target and then some. We had another big huge spike, a nice bull run.
You just learned about Fibonacci. Let’s put it on there bottom to top of the move and where did it retrace the point 0.618 then the 0.5. What are my three subsequent price targets? Do you have it in the settings? That’s actually kind of perfect that it played out right there. I bought 100 million Shiba on October 12th. I bought 80 million Shiba and when I saw that delicious divergence after it retraced on the 0.5 level. I bought 311 million Shiba in total. I’ve invested approximately twelve thousand dollars into Shiba currently. My investment is worth twenty six thousand eight hundred and sixty nine dollars that’s more than a hundred percent gain.
Bitcoin vs ETH daily chats 2021
If you’re looking for the best way to buy cryptocurrencies. The best point to buy is that you’re going to want to look at Fibonacci levels and divergences. The next Fibonacci level bull runs can’t last forever and they always have their pullback. That’s when you’re going to want to buy. Don’t believe me. Think. It’s only going to work on Shiba. This is bitcoin on a daily chart. This is the first big run retracement to the 0.5. This is the next big run retracement to the point five by the dip at the five. Ethereum went up retraced at the five the only times that it does not work is when there’s like catastrophic fear like that found all over the crypto space. So, right here we had ethereum pretty much.
Everything did this exact same pattern we had the roll up we had the retrace at the 0.5 rejected off more fud retraced a bit. Then cascaded down, so if you bought here no worries you’re still invested in a great cryptocurrency kept going down and kept going down. This is literally like black friday sale everybody’s freaking out while you’re just picking up the spare parts here on the bottom. This thing actually went all the way down to seventeen hundred dollars from a high of forty three hundred now with that huge cascade down that happened recently. If you pull the charts out to the bigger picture. Look at the overall scope of price action that happened. Let’s remove this fibonacci retracement level.
Nobody’s investments do that
Let’s take this one and look at the entire run up. That it had everybody freaking out. Everybody was selling and yet if we look at the start to finish of the big bull run from bottom to top it retraced at the 618 and hit that point four times. Now it’s back up to its original mark and if we look at the negative 0.618. We’re looking at sixty six hundred dollars. I have a deep deep love for all things cryptocurrency because they’ve made me so much freaking money. It’s ridiculous I had a buddy that started investing. When I first started making cryptocurrency videos, when bitcoin was at four thousand dollars. Ethereum was eighty nine dollars and he just kept buying more and more every paycheck buying more. He invested a total of thirty five thousand dollars and his current portfolio is worth over 2 million dollars.
I understand everybody wants to day trade cryptocurrencies and scalp the markets and try to make 20 bucks or 100 bucks or whatever. But the amount of money that you can make by buying and holding it. That’s where the true wealth comes from. You have to think about the amount of coins that you can get at that low price. If it goes up as it continues up and up and up you have exponential growth with the value of your coins. For example, I have half a billion shiba inu that I invested twelve thousand dollars in. It’s already gone up a hundred percent in like a week. Nobody’s investments do that. I don’t see why it won’t easily go another thousand percent and then way beyond that. So, my thirteen thousand dollars is going to make me another hundred thousand dollars. If you’re looking for the perfect crypto trading strategy, it’s called buy the dip at a fibonacci level now.