Green Light and Red-Light Game of Crypto – A Warning for Those Who Wanna Follow It
No questions asked crypto is become popular now, because of what happened in the past 3 years there are tons of investors' eyes now on crypto. As new investors, most of us tend to look at numbers and analyze those green and red light candle charts.
It's like moving in the pedestrian lane even it's on the red traffic light.
The green and red candles cause more fires. Yes, it's even more dangerous. This can burn your extra income or even your life money savings if you take too much risk.
Green🕯️Candle Vs. Red 🕯️Candle
A green candle means your asset is way above your opening price while a red one means you are about to close it below your opening price.
The main issue here is no one can predict what can happen to those candles. Even the green light is there to save you but, don't forget that the red one is also there as a risk if you become much too greedy.
If you look at the chart for the past 3 years of top 10 crypto's most of those are 3X, 5X, 10X or even more than that versus now because of the bull season. And now it's the bear season. Wait, is it different from our traditional seasonal days? Yes, it is. In crypto, no one can predict when will be the exact month of bull and bear season.
And if you invested a lot because of date prediction for the past years because of what you think that same thing will happen, you might lose a lot.
Does this mean that those crypto charts don't work? Wrong! There were experts that are still successful in doing crypto technical analysis for a decade.
Crypto Trading Is a Bit Similar to The Squid Game Movie
You may be pressured the moment you get into buy or sell because of FOMO - Fear Of Missing Out. So, each move that you make matters. And it's not just luck, experience traders’ advice that it takes time for you to know the psychology of crypto trading, and like in the squid game in the real crypto game only a few people survive.
As a new trader holding cryptocurrency for a while gives tons of challenge and pressure. An emergency may happen at any time soon which will cause you to sell what you hold for a small amount.
Lesson learned don't rely on those candles because most of the time what happens is the opposite prediction.
