A PATTERN THAT ALMOST EVERYONE IS SEEING THS MONTH BUT IS TOO SCARED OF POSSIBLE UNFULFILLED POTENTIAL
It is normal to feel fear in the crypto market as we've just got out from the bear market (the worst one) that happened before 2023. As for the current market scenario shows that almost every cryptos are moving near their major supports and some are even barely holding their supports. To further add insights on the pattern that everyone is observing. The current market sentiment maybe having some tweaks from greed to fear but those are only momentarily. Long-term market sentiment shows an ongoing greedy sentiment for everyone in the market. Hence, more market structure indicating potential reversals for bullish scenarios are highly likely to happen.
GOT TRAPPED ON A SURGING ALTCOIN? DON'T PANIC!
First of all before we go through the article. This article is not meant to mock anyone who's suffering with their trades but instead this article is meant to educate traders who are new and are struggling.
Let's take #LOOM as an example.
There are traders who got trapped in the key levels where most sellers would have already partially sold the bags they've hold for this altcoin and the traders who entered at those key levels are wondering how it went down. This is the tricky part of the trading life. You don't know where the exact position sellers would do selloffs and the exact time. Although, you can check the ESTIMATED possible price and time where they would take their positions in doing selloffs. Those who are doing spots doesn't have any problem since they can just continue to HODL and also DCA or put more to their holdings. Those with future trades on this altcoin may be doing overleverages and never taking into account the possibility of a momentary reversal and a quick one at that. In any market, there are shakeouts meant to take care of those who do 'too' early and 'too' late positions. Thus, it would be wise to continue sticking to listing out the 'possible' areas where you can enter a trade and avoid a trade. It's as simple as that.
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.