Bitcoin Weekly Chart Update | Bitcoin Trade Setup | CRYPTO MECHANIC on Binance Square

Trending Articles

Bookmarked and Liked

CRYPTO MECHANIC

--

Bitcoin Weekly Chart Update | Bitcoin Trade Setup

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

44.2k

0

Explore the latest crypto news

⚡️ Be a part of the latests discussions in crypto

💬 Interact with your favorite creators

👍 Enjoy content that interests you

Email / Phone number

Relevant Creator

CRYPTO MECHANIC

@CRYPTOMECHANIC

Explore More From Creator

Many people buy a bunch of altcoins just because they haven’t moved yet, thinking they will eventually pump but this is the wrong way to think. If a coin isn’t moving, it usually means there’s not enough demand for it. The crypto market has changed a lot. There are millions of altcoins now. The best approach is to invest in coins where the money is actually flowing. And when you see weakness in the market, pull your money out and rotate it into stronger plays. Money rotation is key that’s what will help you survive. Altcoins will keep struggling like this. Even Ethereum, the second-largest token, is struggling. Stop dreaming. Don’t buy coins just on hope. Only buy if you have a good reason. If not, don’t buy.

--

$RENDER Breaking out of the Daily consolidation If price can hold this break, i think it can continue to push higher. Will keep the risk low as Bitcoin is at key zone.

--

Here is how you can plan your trade setups or you can also call it different trade strategies. Plan 1: Sharp move up and Reversal/Pullback How it looks like? A sharp rally followed by a sudden spike and then a steep drop. How it happens? • FOMO buying pushes price rapidly up. • Smart money sells into that strength. • Price quickly reverses and breaks below support. ⁠ How to trade? • Avoid buying the spike. • Look for price to return to previous demand/support levels. Plan 2: Consolidation then Breakout What it looks like? A strong move up, then sideways or consolidation, followed by a breakout. Why that happens? • Market is cooling off and accumulating. • Buyers and sellers shakeout within the range. • Breakout suggests fresh buying momentum. How to trade? • Watch for breakout from the consolidation zone. • Buy the breakout or the retest. This Ideal setup for trend continuation trades. Plan 3: Breakout and Retest What it looks like? Price breaks above resistance, pulls back, and retests the breakout level. How that happens? • Initial breakout occurs. • Traders take profit, causing a pullback. • Buyers defend the breakout level (new support). How to trade? • Buy the successful retest (when price holds above previous resistance). • Safer than buying the breakout itself. • Often leads to a strong continuation. Good luck & Keep Learning

--

Positive jobs data or higher than expected jobs data is good for US economy and US dollar. Anything that is good for DXY is bad for crypto that being said the data is not bullish. Stronger Dollar = Weaker Bitcoin This is how it is. News effects are temporary most of the time. Will bitcoin dump on this data? To be honest its upto market makes which way they want to move the market.

--

News 🚨 US Added more jobs than expected.

--

Latest News

Key IRS Crypto Project Leaders Depart Amid DOGE Program

--

Bitcoin Outperforms Major Indices and Tech Stocks in Recent Surge

--

FCA Seeks Public Input on Cryptocurrency Regulations

--

BNB Drops Below 600 USDT with a 0.04% Decrease in 24 Hours

--

FTC and Nevada Sue IML for Alleged $1.2 Billion Fraud

--

Cookie Preferences

Cookie Preferences