Only_technicals

9:03 AM・Jan 24, 2024

Bullish

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✍️✍️🛑🛑 Everything in market is not because of news 🛑🛑✍️✍️

#BTC

Yes you heard it right

if you will listen to youtube channels they will always say Bitcoin is going down because of this news that news

🛑🛑🛑🛑

No

a big no

🛑🛑🛑

market pays more attention to support and resistance

but youtubers always say its the news which is the root cause of market crash

whenever something goes up then after some time professionals have to take some profit because if they wont take profits their stop loss or trailing stop will be very far away

so they have to take some profits

that causes the price to go down a little bit

right now Bitcoin tried to test the breakout point but bulls bought strongly thats a sign of strong bulls

whenever that happens just take the Fibonacci and drag it to the bottom of trend and you will get your minimum target

support and resistance are more important than news

in very few cases news is the only reason but that happens very rare most of the time support and resistance is the main reason

breakout point is always always a magnet that pulls the price towards it

aggressive bulls will buy here taking a chance that it will test the prior high

they have excellent risk to reward

🛑🛑

but excellent risk to reward always comes with low probability

value traders will wait for a bull follow through bar

and then they will buy

i will also wait for a bull follow through bar before buying more

like to see more posts like this$BTC $ETH

#TradeNTell