Post
Topic
Board Trading Discussion
Re: Keep calm and buy the dip.
by
Mpamaegbu
on 17/01/2022, 20:54:16 UTC
Quick question.

Have you ever bought the dip, but then the price breaks through the support and continues dropping deeper for weeks or months?  Grin
Well, I have done it before.
It's nothing to be ashamed of. That happens to the best of us. This is because nothing is really absolute when it comes to cryptos. It's a highly speculative industry and we should always expect the unexpected. What makes for Support can later turn to Resistance and vice versa. This is why there's something called weak and strong support levels. Even strong support levels do also get broken if price hits at it repeatedly. I've even had a few situations where I caught the proverbial falling knife and those projects eventually disappeared into thin air.