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Wednesday, February 10, 2021

Candle is about to burn out on the Crypto market

Hi readers, markets are holding up which is impressing everyone, and those who are sitting on the sideline are starting to get fustrated, by the fear of missing out syndrome. For what its worth we saw what fear of missing out did, people bought in at $300 and $400 on GME and now the stock is at $50. Same is happening in the crypto market, Bitcoin is moving higher and people who arent in are getting restless. Garbage news is coming and mum and dad investors are buying at levels which are unsustinable. We are witnessing the Alt's and while many are seeing percentage gains they arent doing anything to justify price movement. Basically displaying that a bubble is brewing. For those who understand astrology will know that the planetary movement which is fast approaching is similar to what took place in 1987. While many of you would be kids at the time, the market was unforgiving and never stopped falling. This is whats going to take place in the crypto markets. It's fine if you dont know how to take advantage of it, but you should have the capital should the market collapse to buy good coins at cheap prices. Only rule that matters in investing or trading, preservation of capital. There is no point watching markets collapse if you dont have the money to take advantage of them. I'm teaching my son how to trade and the first rule and only rule that matters is preservation of capital. I've said it before never met a millionaire or billionare buying when the markets are rising. Those that I know had the cash to buy stocks and coins when markets fell. It's for this reason I've had my exit strategy for crypto's yes I never got the top on any of them but I have my money in my account.Could I have timed it better maybe but thats not a risk I was prepared to take as I can see what will happen. The people who are buying Bitcoin at these current rates will be shattered for years I believe similar to what happen in 2017. Coins fell 75% from there highs yes including Bitcoin, at the time was $19k came down to 3.8K i know because thats where I bought it. For those who want to know I am prepared to wash out some of my ABR.AX stock above $2. Should we see a correction I believe ABR.AX could also fall and as a result will be able to buy back in. Depending upon price I'm only going to sell enough share to pay for the trade and the rest I will hold as they will be a freetrade. Costing me nothing to hold them, but my original prices will stand $12-16. As we witness the crypto market fall I will put up the coins thats I like for you to research as an idea only. You want to invest in coins that have something behind them and is operational, not pie in the sky idea's. As always use the above as an idicator to your own work. I am not a financial advisor, I am a financial astrologer. Please ask your own financial advisor on more on the above.

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