Influencer Will Tell You Sh*t But Here's The Real Formation!
Understanding the market is not hard if…
If you can read the charts and trade what
you see instead of what you think!
Most good traders at times follow their minds
instead of following what they see in the
market and here's an example of this if…
we are to trade this market as an investor.
Before we dive in, kindly share this article
To help me get to 1,000 followers so I can
keep dishing out content like this and more.
Follow me @Mike Akerele to stay up-to-date
on my content as well and not miss out.
Let's continue....
Note: Profits target is expected to be between:
7 Days - 3 Months Using this Daily (D1) Timeframe
Here's my observation on the current Bitcoin Market (BTC/USDT)
As seen on both charts attached to this post.
This is a Daily (D1) Charts of BTC/USDT
You can see that we're still ranging between the HIGH of 72k and LOW of 48k.
What does this tell you?
This is a range market but more than that,
is another important action going on in this market:
Looking at the channel on this chart (the 2
yellow lines that formed the Lower Lows
and Lower Highs of this market)
The channel shows how Bitcoin has
continued to nose-dive from the High
around 72k till the present price.
Now, this is how you should trade this
market either as an Investor or
a Swing Trader.
The Vertical Blue Line represents the
Market Weekly Opens for the Crypto
Market and the opening price is
$57,493.30. But...
We have 2 POSSIBILITIES here:
1. Anything can happen to the Crypto
market either one news come up or…
whales coming into the game and they pump the market to BREAKOUT of this
channel through the yellow trendline above.
And...
What that happens, no prophet should tell
you what next before you understand
the next move.
If this scenario happens, this is what you should do:
Watch the market breakout, but…
DON'T try to catch it! It's dangerous!
Allow it come back to the same level it broke out around the yellow trendline on
the top and find your entry around there.
(there's a strategy to enter the market here
using candlestick patterns and volume)
That is the first way to trade this market.
Now, to the second possibility...
2. If we don't break out of this channel
upward, then it means...
We are definitely still going down to this
main SUPPORT around $48k+
(the blue horizontal line)
You should find your entry around this price
if Bitcoin keeps going down and there is no
breakout of this channel as explained above.
By finding your entry here, you will be
more profitable than anyone in the
market when the price of Bitcoin
rises to the previous
All Time High (ATH)
or it when it creates
a new High.
My Advice: discover Crypto and learn how
to read the charts yourself.
Stop following Influencer's advice as they
will tell you to buy when the market is
going down and sell when the
market is going up!
It's not their fault because they really don't
understand how the system works and you
shouldn't be that easily misled, be better!
I hope this little explanation helps, if it
does, let me know in the comment.
Wanna say thank you? I accept Bitcoin or any other coins too!
Have any questions? Drop it for me in
the comment or send a DM.
Repost this article to get to other anon
who is about to put his life savings in
Crypto without understanding the
market structure.
Someone on your list might like to read this kind of content, share it with them.
Follow me @Mike Akerele to
keep getting this type of content.
NOTE: this is for Educational purpose NOT
a financial advice, you take sole responsi-
bility for your trading & Investing decisions.
Ensure you Do Your Own Research (DYOR)
PS: it's either you buy on retest after a
breakout of the channel or wait for BTC to
dump to around 48k. The choice is yours.
JUST WAIT for any of it to happen before
you make your move.
#TradingMadeEasy #Market_Update
