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It is not really encouraging to see your portfolio bleed out so quickly, as we have just experienced this weekend's flash crash. Bitcoin lost 15% in a single hour and was down as much as 22% in a 24 hour period. This is now a good and solid crash and could later edge even lower. What always transpires after such a dump is an immediate bounce. I personally added to my leveraged long ETH position in this dip. I allocated more funds but am awaiting further price action to develop before increasing it yet again.
How Can You Still Be Open After Such A Crash?
Some may be wondering how I can still be in my leveraged positions after a 22% crash. Well, when you have been trading for almost 15 years and paid your fair share of "school fees", you eventually develop a pretty solid strategy. I have mentioned and hinted at some of my approaches in my writing but at the end of the day it mostly comes down to smart capital allocation techniques and low leverage.
You can't trade high leverage in this game unless you are scalping and at very key and selected points in the progression of price action. We have seen 30% and 40% drops before in a bull market but this was all at once and not played out over days or weeks, making it rather significant. For this reason, I am watching and taking note of Omicron narratives doing the rounds.
If the media spins this out of control again, we could experience another mini "March 2020"! Some may argue that it is already a mini "March 2020", which is reasonable I suppose. Either way you look at it, this has been a healthy flushing out in the market. A cleansing if you will, of greed and inexperienced traders and investors. We may also see many leaving the market now after failing to break the 70K zone on numerous occasions. This is not necessarily a bad thing. The Crypto markets behave like this and if you don't factor that into your strategy or approach, you are living in a bit of a fairytale delusion.
This Is Reality
This is the Crypto market and this is to be expected. Your strategy should incorporate the bullish approach to profit, as well as the bearish. My bearish strategies kick in now and I use them to my benefit. When the trend shifts, my bullish strategies will kick in and be beneficial.
You have to play both sides with the goal of increase and or accumulation. This is how you get to go out and enjoy a coffee and brunch over a weekend that has seen the market dump so severely. I don't worry because I am hedged with numerous approaches that can counter this downturn to some extent. This is what everyone needs to plan for their own unique strategy because it is the only way you will be able to sleep at night. Before I made these adjustments, life was too stressful but it was that stress factor that encouraged me to find ways to make downturns work in my favor.
Enjoy the ride and never stop brainstorming on how to make every possible situation work in your favor.
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