I'm a Bitcoin guy. I believe in the Bitcoin narrative. I think 98 to 99% of the coins out there today are going to eventually be worthless. There's a chance that we are going to bottom in the low threes and that's why I want to have an ownership position here. This is a marathon. Trading is a marathon is not a sprint. Peter Bram is a veteran trader and technical analyst with over 40 years experience in trading commodities. He is the author of several books on trading, including the best selling diary of a professional commodity trader. We reached out to Peter and asked him how traders should behave in this seemingly never ending crypto bear market. Oftentimes in trading keeping your money intact is the best thing you can do. And we've seen a tremendous amount of wealth deteriorating the bear market in the coins and crypto markets. Those who went on the sidelines back in December, January, February, and decided they're going to sit on their cash or far better off than the person that's become an active trader and trying to be defensive and jump in their own from coin to coin. I don't advise that. So capital preservation sometimes is really the goal of a trader. It's almost as if fiat is a dirty word as a disease within the crypto community. Sometimes fiat is the best place you can be and we've seen that now in the last 11 months. Those holding fiat have been far better off than those stubbornly deciding that Bitcoin is going to go to $100,000. So therefore I'll sit through anything the market gives me. I'm a trader. I think it's the ludicrous to sit through 90% declines in the market, especially when you have a market that's so clearly advertised its cops starting in December with Bitcoin. I think those who have become active in trading will miss the big moonshot when it comes because they're going to be so accustomed to having to be in and out. Be looking at short term indicators, to be an indicator driven trader, to be looking at one hour charge, six hour charge, three hour charge, that if in win Bitcoin really then reemerges and goes back into a parabolic move. They're going to be on the sidelines and I'm starting to become interested in being a long term buyer and holder of Bitcoin, but a Bitcoin. I have no time in my life for the other macro cats and the altcoins. I'm a Bitcoin guy. I believe in the Bitcoin narrative. I think 98 to 99% of the coins out there today are going to eventually be worthless and it seems like all the experts know that their pet coin is not going to be one of them. Well good luck with that one. I'm a technician. I look at charts. The interesting thing is the social media world is filled with people who say technical analysis doesn't work in the crypto markets. Ocontrare. They're the absolute best charting markets that we have today. They wonderfully compliant with classical charting principles. I'm going to look at charts to give me that indication. I've had the feeling I've been calling for 2,900 Bitcoin for a very long period of time and do we have a chance to bottom before that? Quite frankly, I think that one of two scenarios is likely we won't get to 2,900 because it's become a popular number. 3,000 has become a talked about number and oftentimes when you have a market that everybody's saying I can't wait to buy that 3,000 you don't get there. But I think if we can break down through hard through 2,900 I think Bitcoin can go back to 1200. It's been a classic decline. The decline has been almost a perfect fractal so far to the decline that we saw. I'm looking at a chart here from 2014 into early 2015. The big drop that we had back then from just under 1200 all the way back towards the 200 level. If you analyze that and you take that decline apart the Bitcoin market is almost an identical fractal to that bear market. Based on that fractal work we should be in the final leg down the capitulation. The only concern I have is when I look on social media there's just people have not become discouraged. People are just still committed to the long side. My experience is Bitcoin really is very similar to any other market. In any other market that I've dealt with that have had major bear trends. What happens is everybody needs to get as long as you have hope and encouragement you can't bottom. Either we don't get as low as people are waiting to buy it. In other words we stay above 3,000 and have some sort of bottoming pattern here and really put together the final part of the fractal or we will blow through these by orders and eventually blow these people out and really make the market discouraged and basically give up on it. It's impossible to catch the top price and possible to catch the bottom price. If I can have my average price somewhere within 15% of what becomes the bottom I'm happy. I have no compulsion to catch the bottom. I think that I've started buying and based on my plan I'll continue to buy as low as it goes. What I'm really looking for are just some real simple technical indicators. 14-week moving average, 15-week moving average. It's impossible for a market to have a major advance without being confirmed by a simple moving average. Now it could be an exponential moving average. It could be all kinds of fancy types of moving averages. But I think simple moving average system is going to be very smart way to trade Bitcoin going forward because it is absolutely impossible for Bitcoin to incur and experience a major advance in price without confirmation from simple moving averages. I think to the bottom we could be within six months maybe even I would say within six months of a bottom there's a chance that we are going to bottom in the low threes and that's why I want to have an ownership position here. It won't bother me if it goes lower. I'll only increase my ownership position. And so I have set aside my money in three blocks. I have three nest days of money that I'm using to commit to the Bitcoin market. The third block of money is buying Bitcoin on a scale down. I own it some already. Like I said 8% of the total capital I'll buy more Bitcoin close to 3000. I'll buy more Bitcoin at 2400. I'll buy more Bitcoin at 1200 if it gets there. So that's a third of the money. A third of the money I'm going to be moving in and out of Bitcoin based on a simple moving average crossover system. So basic simple technical approach to market. In a third of the money I'm going to employ based on what I would define as classical charting principles. The basic principles of reading a chart. The charts have been very reliable in seeing that we are in a big bear market. They were screaming short at the top. They were screaming short here a month or so ago when the big decline started. But it's too late to be a new trader and start playing around with the short side. It's just I don't advise it. Now with the 85% decline I'm advising people to make a game plan. Commit some of money that you know you can lose and start being willing to commit to it. Don't be joint. Don't be trading the altcoins. Trade the real deal. The legacy coin is Bitcoin. Don't become conned into all of these other little nonsense coins and you're going to miss the fact. You know this is a marathon. Trading is a marathon is not a sprint. And so you don't keep placing your bet and jumping your bet from horse to horse based on who's leading the race and you know any given through law.