Prepare for a possible sharp decline. We hit 5 waves. A possible correction is due. For btc support is around 93-95k.
If this plays out it will be a wave 2.
Dont get me wrong. This isnt bearish. This is a setup for higher prices for a larger wave 3.
If it happens. Risk to reward is good.
Do not let it catch u off guard and do not panic if it happens.
Wave 2s can also be shallow. This isnt a warning. Its always good to prepare yourself mentally to endure the volatility. As of now, the downtrend seems to be broken. A wave 2 is usually a bear trap and to shake off weak hands
Alot are giving up on the idea of altseason. Thinking about it, sell it. 🤣 markets are designed to literally make u feel that way. If youve been in crypto long enough, you know that when people lose hope the mega pump is close. Its not rocket science. Its an emotional cycle
Eth is retesting the upper trendline. Its crazy how bearish we get with a small move but if you zoom out its nothing but a breakout retest. It would be a good entry for low leverage trade. But again this is the daily chart. So trading based on daily charts is trading for the weeks and months to come. Not hours or minutes.
This would be a nice swing. Any movement is just noise
So the surprise dip happened. 🤣 it was worse than expected. Anyone who entered during the run is probably liquidated. Most positions opened before the run are still safe. Some of the funding rates are negative. Thats a good sign. 👀
Gem100xhunter
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I guess most of the new money was wiped.
This is why if you are new you have no business with 20x leverage. Not even 10.
Its always good to stay level headed.
All profits and capital wiped for alot of people in just a few hours.
I think there will be one more surprise dip taking out one last wave of liquidity. Targeting people who entered again thinking the bottom is in.
In any case, funding rates are mostly back to normal. But this does not mean that volatility is gone.
It would be nice to see alts push higher.
I dont see anyone screaming $XRP anymore. 🤣 most of them are calling crypto a scam now. Its kind of funny.