I share my explained market perspective with you, so that you understand what I'm talking about in all my posts:
The general trend is bullish.
In daily timeframes, we come from a consolidation, in which there was profit-taking and prolonged reinsertion into the market for months by market makers (March-August 24).
Thus, we subsequently see the formation of a bullish pennant (a continuation signal), with support at the 0.61 Fibonacci level, generating a pullback on the consolidation zone. Another confirmation of a bounce to the upside.
Taking the above into account and overlooking many other details of a deeper analysis at lower timeframes, what do we read so far? A rise in the market after a possible correction between $165 - $169.
The same scenario in almost the entire market.
Why do I tell you that you cannot be overconfident in this or other analyses?
We can see that the last low (where we are) has created a BMS zone by breaking the resistance (which should have been a major support), left by the last higher high in March (which would indicate a reversal to the downside).
Many will have a different analysis, using price action or RSI, EMA, or other indicators, even higher or lower timeframes, confidence in a downward trend, upward trend, or lateralization. Perhaps with greater precision in their study than the one previously described, I could be very far from reality.
In any case, the goal of this post is to show you that any analysis ends up being irrelevant when market owners decide to buy large volumes of coins or withdraw liquidity. The volatility of the crypto world is completely different from the rest of the market.
Trust your analysis, prepared for possible reversals of it, and train your mind to stay in for as long as necessary without selling.
You can forget the graphical analysis presented above, but hold on to this last point.
Your success or failure in this environment will depend on it.
Spot.