Patterns of Emotional Wallet Destruction
2024-08-16

Hello Monstralians,

The chart highlights three distinct patterns that reveal common emotional responses among traders and investors. A clear parallel can be drawn between these patterns and the behavior marked by the Greed and Fear Index, which shows similar levels of sentiment across the board.

Currently, there's a noticeable sense of  boredom  and  lack of motivation  for investment in the market. Long-term investments are dwindling as participants increasingly question  the credibility of the crypto market . This growing skepticism is also leading to a loss of hope in altcoins.

Some traders, facing small losses, are selling off their assets in anticipation of even lower prices. Meanwhile, others are turning to futures trading with  high leverage , hoping to profit from the market's low volatility. However, this range-bound market is causing many traders to make significant mistakes, often neglecting proper money management practices in the process.

Despite all the negativity , the TA tells me that this is a bullish pattern and the target is 80k. 