From 5 to 7 BCH in 1 week in Spot.

Jun 23, 2022. No. 272

A few days ago I made the decision to do some spot trading. Mainly to protect me from the market downturn and the extreme risk of the futures market. If you buy BCH that is for the future and if you sell them then you have USDT to buy further down, this way you always win.

I made several sales and purchases and increased my BCH little by little, but the price kept falling. I was in USDT and I waited for it to fall much more, so when the price was around 110 I didn't buy back, because the feeling that it would fall more invaded me, but it didn't. The price continued to climb and when I just woke up one morning, I checked the price and saw that it had increased to more than 122. I don't know if it was because I was still asleep, but I gave him a buy without looking at anything else and I got 7 BCH, I had achieved go from 5 to 7 in just 1 week. But this would be a big mistake because he had inadvertently bought back into resistance.

You must trade on the margins, that is, buy below and sell above. He had done exactly the opposite, bought above and had to wait for it to rise even more than it had already done. Obviously, this did not happen, as the price of 122-123 is one of the fiercest resistance I have seen in recent days for BCH. It's time to wait and enough to sell again and not do it with losses.

I'm still waiting and I have a sell order at 123 in case I'm asleep or attending to other matters. This time if not I'm going to cancel it and let it run, so I can buy further down. I just hope BTC doesn't go flat before hitting my sell order.

These are difficult times, but they will surely improve. Positive mind that the good thing about having hit rock bottom is that we can only go up.