โ ๏ธ Why It's Not the Right Time to Buy โ
๐ Despite the tempting green candles across the crypto market today, jumping in now might not be wise. Here's why:
1๏ธโฃ Chart Perspective: Take a look at the first screenshot. $BTC is still trading within its downtrend channel. Without a breakout and higher high, we could see a swift drop after today's pump.
2๏ธโฃ Inverse Head and Shoulders: While #Bitcoin appears to have broken out of this pattern, we need to see a daily chart close and ideally a re-test of the neckline for confirmation.
3๏ธโฃ Trade Signals: Many signals are appearing on the 1H chart (see screenshot 2), but most have poor probability. Confirmation and quality signals with high probability are key before making any moves.
โก๏ธ Trading is all about risk management. Waiting for confirmation, breakthroughs of crucial resistances, and high-quality trade signals is essential.
Remember, patience is a virtue in trading! ๐