On this platform, i read a lot of analysis and they are super confusing, never providing a clear direction. Which tells me that, these analysis are just there for engagement and conditioning the readers and small traders into gamblers. Tell me what do you understand from the below analysis?
BTC is at 63k, it will rise to 67k, it can drop to 58-59k creating a double bottom, cup and handle etc and bounce back to 65-67k, but if it breaks support at 58k it can fall to 52k but then it will fly to the moon..
Tell me what direction has this analysis provided you to trade? I am all for analysis, it helps in understanding support, resistance etc but when someone is putting the information out in public there has to be a clear direction with conviction of some kind, don't you think? And in the end you read DYOR.
Dear Small #Traders
Read these analysis but choose your direction before you get into the trade, it should either be #long or #short .
In long, allocate 30% of your funds for trade, 20% for DAC and 50% to protect your liquidation. There are more strategies within this setup to maximize your gains when the market turns in your favour (which will need another post).
In Short, allocate 40% for trade and 60% to protect your liquidation. Again there are more strategies within this setup to maximize your gains when the market turns in your favour (which will need another post).
In both the above scenarios you have to keep your greed in check, have clear targets in your mind, follow the gains with stop loss (there are easier methods available on Binance, i am still learning) to achieve your goals.
Create Wealth Not Income