$BTC : Time to Recover?!🚀

- (Hour Time Frame):#bitcoin is confirmed CHange of Character (CHoCH) and indicates a bullish reversal.

- #bitcoin breakout the resistance line (62,400), becomes the support line and then pulls back (retest).

- The market may start recovering and reach the 66000 level soon.

Great traders know that there are no perfect patterns. There are no perfect strategies.

The great trader knows that to achieve great success one needs to show consistency on the losing days. Losing days hurt you more than winning days make you happy, but they are equally important.

Slow days are there to just keep you in the market and focused on price action and risk, so they are even more needed than profitable days. They are there to remind us how important trading discipline is.

Anyone can have a great winning day. Ultimately, it is all about maintaining the balance and knowing when to stop when you are going through a bad day.

Great traders know that principle too well and are skillfully balancing between winners and losers in a coordinated fashion that differentiates them from mediocre traders, who can’t see why controlled losing is so important in order to reach consistent trading results.

#psychology

IF YOU CANNOT DECIDE, THE ANSWER IS NO ✨✨✨

- Have you ever faced a difficult trading choice, such as?... Should I go short because my trading indicator says so? Should I go long because price action is showing a bullish formation?

- Should I double down my exposure?

- Should I just take profits and not follow my trading strategy, because I am already in profits?

If you can’t decide what to do next, the answer to these and similar questions is no. The reason is that there are so many opportunities that markets are offering daily that you should only pick the ones that check all of your boxes. Don’t take unnecessary risks, because good decisions usually come to us naturally. When this happens, you will know that this is the right thing to do.

Nothing in the world of trading can be said with certainty but two skills always top the list for importance:
1. Money management
2. Discipline Those two skills are probably the best tools in the working arsenal of the professional trader.

Instead of trying to pick a bottom or a top, try to master a real skill like rock-solid discipline or good money management skills. As Lao Tzu has said, “Those who have knowledge don’t predict. Those who predict don’t have knowledge.”

What we as traders must do is have our own quantified trading strategy with an edge and strict money management rules and stick to them on good and bad days. Don’t buy into picking market tops or bottoms.

Traders can’t know with certainty if a trade will materialize into a profit or a loss.

What they can try to achieve instead is to learn how to manage the risk properly. They should try to maximize their profits when they are right and minimize their losses when they are wrong.

A great part of successful trading is being honest with ourselves.

If you’ve heard the saying, “A trader’s greatest enemy is himself,” then you should know by now what is meant by that sentence. There is no worse adviser than our own dishonesty and our inability to accept that it was because of our own mistakes that we are where we are right now.

Making mistakes is great if you know how to take advantage of them. Don’t ever be afraid to identify them and point them out, because this is the only way you can improve your chances of becoming a great trader.

Instead of spreading yourself thin into too many markets, specialize in one market and become the best trader there. No wonder great traders specialize in certain markets and then become the “biggest traders” or the whales in those markets.

Confidence in trading comes not from arrogance (although sometimes it does come from there, too), but from experience. Knowing as many ways to lose your money in a particular market will only show you as many ways to protect your money in trading.

If you limit your learning curve only to ways to get rich quick, you will only end up finding fast ways to go broke fast. Change your way of looking at trading and embrace your mistakes. This is the only proven way to lead you to success.

I do believe in two more rules:
1. Nothing should be left to chance.
2. Follow your trading rules strictly.

Even if you don’t trade the same way as I do, I have found that other profitable traders are following the same or very similar logic when trading. Always try to book profits and always try to cut losses short as soon as possible. Don’t let your positions get out of hand and do not risk more than a small, predetermined amount.

What is bias?

More info on bias below
Bias in trading is a psychological phenomenon, in which an investor makes a decision based on their pre-conceived ideas of what will or won't work without considering the evidence. Bias may also manifest itself in retaining an asset for too long or otherwise behaving against their best interests.

Where have you heard about bias?
As an investor, you may have been warned against bias by your financial adviser. Investment guides may discuss the danger of bias, and the subject is covered from time to time by specialist financial media.

What you need to know about bias...
One of the most common forms of bias is called confirmation bias, in which the investor will seek out evidence that seems to support their pre-conceived position. The famous investor, Warren Buffet, has discussed the problem of confirmation bias, one of the most common forms of bias. He says in order to avoid it, investors should:
1. Be aware of the danger of confirmation bias, and acknowledge that their judgement can be clouded by it.
2. Aggressively seek out and understand information that disagrees with their existing belief.
Another form of bias is sunk cost bias. This can occur when someone has invested so much money, time or energy into a particular venture or investment that they will keep going without cutting their losses, despite its repeated failure to deliver. Remember – an investment doesn't 'owe' you anything.

So what are the benefits of looking at multiple time frames?

1. They give you different perspectives and views of a currency pair.
2. They enable you to spot upcoming support or resistance areas.
3. They enable you to spot trend changes earlier.
4. They help you to enter or exit a trade as early as possible.
5. They help to confirm the trend change in a higher time frame.
6. They allow you to know what other market participants are thinking.
7. They enable you to see the small picture, medium picture, and the big picture.

#bitcoin☀️ ($BTC ) Detailed Structure Analysis(Swing trading):

1h time frame:
The price already hit the price and breakout as I predicted last night (Old graph as you can see).

the trend changed from bearish to bullish:
- the dynamic resistance line on 200 SMA breakout (RED as I pin the red cycle ) and breakout the resistance trendline at 61K-62K.
- Elliot wave: #bitcoin completed impulse wave (5 waves). and now in the process of completing the corrective wave (A-B-C wave) at a 64K price.

I believe the #Bitcoin trend changed from bearish to bullish will hit the price at 64K and will continue to 66K.

follow for more updated prices: $BTC .

$BTC update.! 🟢

#bitcoin☀️ breakout the resistance line 62400

$BTC Price (Daily time frame)..!

Since the beginning of June, Bitcoin has not been in good shape.

The market traded in a minor bearish trend and formed
a falling wedge pattern. and strong rejection at the demand zone price of 58K.

If #bitcoin can break resistance line (62400). we'll see #bitcoin hit a 64K price.

The market may start a strong up movement then.

$CHZ update...!

The price market (#chz ) nearly hit the strong support-line and will continue to eat my Stop-loss.

HERE IS THE REASONS WHY PRICES FALL:
- Alt-coins usually follow the #bitcoin price .. Yeah #bitcoin☀️ is the KING. and bitcoin is not yet confirm to fall price again yet. I still have a hope. Base on my analyse in Previously, i think it will rise the price.

In technical analysis, There simply isn’t a 100% winning strategy. What works in a specific market at a specific moment may not be replicated or repeated to bring the same results. Successful traders are those who tend to have a good understanding of the market, good risk management skills, and the ability to adapt to changing market conditions.
#LearnFromMistakes

Before you learn to invest in the market, learn to invest in yourself first.

KNOWLEDGE AND EXPERIENCE IS THE POWER.

DATA Trading is very good for traders.

It helps us to keep on track of the market, marketing emotion index (Fear and Greed), and Marketing trends now (Bear or Bull)

So after you make a good analysis for trade. Make sure you watch Data too before you open position.

have a good trade....! Thanks.

The first step to being a successful trader is you need to fail, to learn from your mistakes and gain more experiences from your mistakes.

Don't expect to be rich in one night, one day, one month.. the best thing takes time.

RISK MANAGEMENT FRIENDLY REMINDS 💥💥💥

With 1:3 Risk-Reward Ratio.
You can lose 7 out of 10 trades, and still be 2R in Profit!

If you are scared of losing money then you can never become a successful trader.