Bitcoin

It&#39;s Day 13.Bitcoin is hovering between 58k and 61k since the 9th of August.Consolidation. Probably the toughest market phase.<ul><li>Investors sell because they think the market will be stuck forever</li><li>Traders enter too risky trade because they&#39;re getting impatient.</li><li>The sentiment is constantly turning more bearish.</li></ul>The thing is, times like these are normal, especially during July and August. Half the world is on vacation, and volume is low.<h3 id="5-essential-learnings">5 Essential Learnings</h3>Here are my five essential learning from the last years to survive this period:Set Alerts: Stop monitoring the chart 24/7. Set an alert for 58k and 61k and close the chart.Impose Trade Ban: You read right. I don&#39;t enter new trades as long as Bitcoin is consolidating. Do I miss some opportunities? Maybe. Does it save me from losing money? 100%.Get Prepared: Study charts and find the tokens holding the most promising setup. Make sure to have a list of top bullish and bearish setups. Thus, you are ready to execute as soon as the breakout happens.Learn New Things: It&#39;s the perfect time to refine your strategies, learn new approaches, and train yourself.Enjoy the Summer: Crypto trading isn&#39;t a 9-to-5 job. Peaks define trading. While you have very intense times when the markets move, you must recharge when the market is boring. Don&#39;t blame yourself—it&#39;s okay to take more time off during boring market times.

Market Consolidation: 5 Best Practices to Survive (And How To Capitalize on Slow Periods)

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Ben Walther

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