Olszewicz Crypto Influencer Opines We Should Have Already Pulled BackJune 1, 2019
Olszewicz, crypto influencer recently stated in a podcast, “There’s no other good reason to pull back, other than we should have already pulled back.” He further added, “It’s to the point now where it’s like if we don’t pull back, the pullback eventually that will come will just be super painful.”
The price of Bitcoin is now felt to be due for a pullback. Bitcoin Pull Back can be Super Painful for several Investors if we do not pull back now.
The price action of Bitcoin has been very hot over the past few weeks. The asset has surged up in all vigor. Price analysis is mostly based on speculation and opinion.
According to Olszewicz, the cryptocurrency market has undergone a market shift to a bullish trend. He stated, “Anything above $6,400 is a bull trend.” When the price has rallied above $6400 from its lowest bear market lows.
When it is about average crossovers, the 50/200 cross on the daily is a bull trend. He further stated, “Anything above the daily 200 EMAs [exponential moving averages], on all these coins, is a new bull trend.”
The price of the Bitcoin touched at $5,200 in the 200-day EMA on May 29, 2019. This is a common charting indicator. This is a particular cause for re-evaluation, according to Olszewicz.
When the $5,200 occurred, he stated, “As we sit right now, there’s just no way you can look at this and say anything other than this is a bull trend.”
Identifying the emotional ranges are very difficult. When trading in any market, it is essential to manage the emotions and control the risks. He further added on reinstating this that “It takes a long time to learn, it takes a long time to find your emotional ranges.”
Before forming his trading strategy, he stated that several technical analysts had posted their analysis on different cryptocurrency pages online. During this time, he said that he was skeptical of the validity of the different trading methods. Ever since his early days, he changed his outlook, and now he is in support of technical trading methods.
The idea of improving trading is to expose oneself to as much trading methods as possible. He states that in order to become successful one should look at literally everything ranging from what it is, how one likes about it, what one hates about it, how to use it, when to use it, and what it might be trying to tell the investor, and how to integrate it in to what one is already doing.