The market remains difficult to trade for the inexperienced.
Conditions remain significantly weighted on the downside and the momentum is all there.
Adapting to the side with the momentum is incredibly important but that doesn't make it a necessity to trade. For many of you sitting on the sidelines and doing other things if the biggest alpha I can bestow upon you.
During any momentum shifts it takes time to appreciate and accept what is occurring. This is why in any market conditions, participants spend the first % of a newly emerging trend taking the opposite side of the market.
We know that all markets have established downtrending conditions, yet the primary positions you'll see posted on your feed will be those people attempting to get long.
Without experience, knowledge and the ability to execute successfully in these conditions you're going to engage in a process of draining accounts via a thousand cuts.
Many of you will hand back profits, many already have.
You don't need to time the bottom, you don't need to be there as soon as a reversal has formed, you don't need to sit staring at charts all day in the hope some hidden message will be revealed to you.
I understand right now that achieving value in these conditions is difficult, and it almost feels as though the market has taken away your opportunity for easy returns, now you're trying to work harder to secure whatever scraps you can.
Let things settle down, reduce your emotion when it comes to timing the market, all you need is the green light to show that the market is ready to move again and be positive. I don't know when that is, but all I know is that you need to survive until then so you can thrive again.
This illustration of the BTC chart is the best example of this. When $31k broke, you didn't need to have timed any bottom along the way, you didn't need to have sat for weeks on end trying to secure some entry, you just needed to start participating again in the market when the momentum had changed.
That's all you're waiting for. Enjoy the time off, don't let addiction to shit conditions ruin your summer. The money is made in the meat of the move.
Addiction is for green markets, not shit markets.