This article can help you re-understand the crypto market!
Have you ever felt like the market is playing tricks on you? (Actually, the market isn’t playing tricks on you; maybe you’re just overthinking it)
If you can’t make heads or tails of the market trends and always regret your trading decisions, then you’ve come to the right place.
Why do I say that?
Sometimes the market moves in line with your expectations, and if you jump in, you make a profit. Other times, you don’t act, but the market moves just as your analysis predicted. Then there are times when you trade and end up regretting it. We will post a series of articles that outline these situations to help you recognize these common scenarios.
Let’s start with the first one: the market looks like it’s about to drop, you make a short-term trade, and the result...
There was a person who used $100 as margin, leveraged at 50 times, thinking the market was definitely going to drop because the charts showed three peaks, and the candlestick charts were all bearish. After going short, he realized something was off and got liquidated. He regretted it deeply and then went to sleep. A few days later, he looked at that altcoin again and found it to be worse.
So, what could this trader have done better?
You need to have your own trading checklist to know what you can do and what you can’t, so you make fewer mistakes. Let me give you a few examples of what he could have done. The altcoin price reached a resistance point, looking like it was about to drop, which is normal. A resistance point is where sellers are waiting to offload. So, you need to look at how the price moves next. Or you can wait and see if the price will pull back to test the resistance level. This kind of testing is common, and a pullback is a necessary condition for the next big rise. You need to be patient and watch how the market moves next.
Don’t just go into a trade without thinking; it’s easy to lose money that way. Of course, sometimes you may get lucky, but those times are rare, possibly once in a millennium. Some traders are very patient, simply close the charts, and wait for a few hours or days before looking again. When you encounter this kind of chart pattern, you can also use other strategies.
Don’t be blinded by short-term ups and downs; Sister Qi will guide you and reveal a potential coin that is expected to multiply over ten times without a doubt! Follow Sister Qi, and she will help you find your way out of confusion and towards financial freedom! Like + comment for free sharing!