Hi again, how was your trading this week? Those who want to share can comment below!
I think we were all quite ‘shocked’ to see many coins corrected last week even though btc had touched a new ATH.
Some people ask: How can that be, Bli?
Of course you can! Because the market moves dynamically and fluctuates. If you still expect when it goes up then it keeps going up… you are in big trouble with that kind of thinking system.
There are always dynamics in the market, so we have to be prepared for that!
I know that many people are confused at times like these. Most people are quite shocked because our bull run should be a celebration but in reality it is not like that.
I WILL HELP YOU!
You can also follow my Telegram channel, Billionaire Trader so I can help you more deeply regarding the market and its dynamics EVERY DAY!
The method is quite easy because you only need to click the link below: https://t.me/BillionaireTrader99 . Just join, it's FREE!
On this occasion, I will discuss how we can identify the structure of a coin that wants to pump or dump in the market.
DISCLAIMER!!! This method is a method that increases our probability, not as a definite HOLY GRAIL in the market!
Nothing is certain in the market except risk.
So, make sure you manage your risks.
We will discuss according to the nature of the market itself, which is there is an increase and then a decrease. At this stage, we will try to see how the cycle of a coin can experience an increase in the market with the sample we take is only during this BULL RUN.
Phase 1 : Accumulation and Pumping
This is an example of the accumulation and pumping phase occurring in FLOKI.
There are several criteria that we can monitor for coins that have the potential to pump.
Anyways, before I go any further, during this bull run NOT ALL coins can perform! So make sure we have a watchlist first so we can have options for which coins are interesting and have the potential for gaining up.
The criteria for this phase are:
Sideways in the support and uptrend area: this area is important for us to identify because with an uptrend structure, it is most likely to lean upwards for its movement. Like FLOKI, it is still in an uptrend formation even though if we look at it daily, it is hard sideways
Breakout from its resistance for the first time daily
Looking for coins that fit the bull run theme, as we currently know is the memecoin supercycle phase, so we will be more concentrated on meme coins than other coins.
Fase 2 : Running
When entering the running phase in a bull run market, it is better to do sl+ or move your sl to BEP and let profit run. In addition to let profit run, to be able to find out approximately where the TP is, you can identify the next resistances and prepare for TP if it reaches the target you have determined.
Phase 3: Distribution & Dumping or Correction
The example in Phase 3 is very clearly visible in PEPE, where we can see through this chart that it is running very massively, and now it is corrected. There are several things that we can pay attention to to start knowing the indication that this coin wants to "rest" first.
Identify the trend is starting to weaken:
Check Resistance. Resistance needs to be identified in coins that have not reached their all-time high or price discovery levels. By searching for resistance, we can know approximately at what level the coin will have many sellers.
Small Time Frame starts to form lower low.
Bearish candle that is at resistance with massive volume
An example of a bearish candle with massive volume is in pepe. Pepe is in its all time high phase so there is no more resistance above it. However, in the closing of the daily candle, it creates a bearish shooting star candle with massive volume indicating that there will be an indication of a correction first in the future.
Resistance identification can be found in WIF. The WIF chart is a very clear observation for us because when WIF pumped high and hit its weekly resistance printed in April 2024, WIF immediately corrected.
This is an example of how to identify Pump and Dump in a technical structure in this bull run phase. Hopefully this helps you!
