IF YOU CAN SEE WHAT THE 0.99% SEES ON THIS CHART (CONGRATS!)
Are you the type of trader who reacts only to what he/she can see in the market? That's fine. Although, checking on possibilities and picturing them in your mind isn't bad as well. In fact, it'd be considered as a great perception.
Gaining a skill such as being perceptive will surely give you the benefit you need in the crypto market.
Here's why.
As what you can see in the chart, the overall market structure for this token is experiencing decline. This decline has been for more than 7 months now. For this particular token, getting 7 months worth of decline will already be considered as a total oversold status. If you also measure the correction shown by this token, you can see that there are way too less bullish sentiment that has been provided inside the 7 months timeframe. Always remember 'too less' and 'too much' are both bad for you. If you have the opportunity to never disregard a 'too less' or 'too much' then, use that opportunity. Now, let me show you. Check for an opposite chart than this one is having. Look for a token that have more bullish candlesticks than bearish candlesticks. It would also be best if it's almost identical in measurement with this chart. Now, review the 'too less' or 'too much' of the candlesticks present. As there are more bullish candlesticks on the token you're looking at, the chance for reversal will become clearer. Those 'too much' bullish candlesticks and 'too less' bearish candlesticks will soon have their own 'reversal points'. Turning those 'too much' bullish candlesticks into too less and same goes to bearish candlesticks turning into 'too much'. That's how you can easily understand chart patterns like these.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.