The market started to pick up a few days ago, but started to pull back again in the past two days, which made many people who had just entered the circle think that the bull market was over.
There are also many old investors who have been affected. It can only be said that these old investors have only been in the cryptocurrency circle for a longer time, but their personal abilities have not been improved at all. They have no opinions of their own, cannot judge the trend, have no confidence in their own judgment, and ultimately choose to go with the flow and follow the majority.
The pullback in the past two days has made them more convinced that the bull market is over, and they have begun to reduce their positions and wait for further declines. I am thinking about a question: I always want to buy at the lowest price, but aren’t I afraid of missing out on the bull market?
The rise in the past two days has shown that the trends of many currencies have diverged and they have begun to follow their own independent trends. Even the pullback has been in a shrinking volume.
BOME attracted much attention when it was first launched, and many people had high expectations for it. However, the results of the early chasing of the rise were not very ideal. Not all currencies will rise sharply when listed on the exchange. A pullback after listing is a normal trend.
But after experiencing a wave of pullbacks, the decline stopped and the market began to fluctuate. This is a good start. From a macro perspective, the current position is very good.
The best quality in trading is patience. There is no shortage of opportunities in the market. What is lacking is the vision to identify them and the patience to wait. With these two qualities, you can outperform more than 90% of people.
Let’s analyze BOME’s four-hour short-term today.
1. The four-hour long-term rising trend line has been broken, the trend has changed, and a wave of pullback has been triggered. However, this wave of rise has broken the previous high, so the amplitude of the pullback will not be too deep.
2. The short position volume in this wave of correction has gradually shrunk, but there is no obvious stop-loss signal yet.
3. The K-line volume in the last four hours is larger than the previous negative line volume, which means large volume, but the K-line only closed with a cross line, and the body of the positive line is too small.
4. The four-hour Bollinger Bands are open, and the price is between the middle and lower bands, which is a short position.
5. The current price is near the support level.
Through the above analysis, we can see that BOME is currently a little stronger in the short position, but there is support below, and this time it is a pullback that broke the previous high, the force will not be too great. Waiting for a reversal signal is the time to enter the market in the short term.
The four-hour market changes very quickly. Short-term trading should be exited when it is profitable. Don't let yourself be trapped because of greed. Short-term trading emphasizes capital utilization, so you must be willing to take profits and dare to stop losses, otherwise the meaning of short-term trading will be lost.
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In the current ups and downs of the market, blindly going it alone will never bring opportunities