$OM overbought | GAINERSPACK on Binance Square

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$OM overbought

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#BTC: PRICE ACTION AFTER ALMOST 2 WEEKS OF CONSOLIDATING If you're looking for an in-depth analysis of BTC's price action, then, you're in the right place. Here's why. As we've anticipated the exact same scenario currently playing out as BTC's price action, we're now more aware of the probabilities right after this action plan. Since August 8, 2024, BTC's minor resistance has been tested sitting at 61K-62.5K. More attempts of testing out the minor resistances, means a possibility of weakening these resistances and thus, possibly leading to BTC revisiting the key levels 64K above. The 62K minor resistance is most likely going to be broken and more rejections await on top of it. Albeit, this just means that the market sentiment can't really be underestimated as these recent movements of BTC just prove how important it is to identify how strong the market sentiment is. Once the action plan has been confirmed to be a breaking of the minor resistances, we can now fully anticipate on the next course of action to take. As such kinds of traders as we are, we will patiently wait for the opportunities that will be presented in the market. If BTC stays on top of 60.5K-61K and not immediately breakdown just like the previous tests of resistances, then, it would be safest to assume that more demands will enter the market. Stay wise, trade cautiously.

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#REN: HOW HIGH COULD THIS TOKEN GO? If you're looking for an in-depth analysis of REN, then you're in the right place. Here's why. As REN continues to trade at its bottom which was already hit twice since 2023 until this year which has proven that this token has no intentions of breaking down totally as the highest sell off already happened last April 2021. This selloff was so impactful that it even created a long bearish wick and immediately went back to its previous price before the impulsive wick happened. In identifying these factors, we've come up to a conclusion that REN will be one of those tokens that will potentially hold its major supports and continue to shine amidst any scenario that could happen in the crypto space. With this, we can fully provide the fact that this token have one of the greatest long term prospects.Stay wise, trade cautiously.

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HERE'S HOW WE'VE IDENTIFIED THE REASON FOR #MATIC'S CURRENT PUMP If you're looking for an in-depth analysis of #MATIC's recent behavior in the market, you're in the right place As we've mentioned with the recent post that we've made regarding MATIC's possible rally. MATIC is currently moving in one of its major support. This support has held MATIC ever since the markup of 2021 which was its initial major resistance breakout and 2022 which was its strong catch of a falling knife that led to its bounce up to this year. Here's how we've identified the possible cause for the rally. We have this 1 secret strategy we use in Gainers' Pack where we identify possible news/projects/rumors that will published after a certain point has been reached for a token, e.g. closest to major support/resistance, touching major support/resistance, etc. This strategy also analyzes the possible impact of the said news/projects/rumors whether it would be bullish or bearish impact. After verifying that the narrative for MATIC would be a possible bounce from the major support. We've already thought of the possibility that as part of the script for everything that happens in the market. They would produce something big that would result into the kind of movement that we're expecting. In this way, all of those who would do late shorts would be trapped and there would be 'enough' reason to validate the movement even if most of the time it doesn't make sense. In order for you to identify this, first, do some back testing using the previous years that have major supports and major resistances broken or held and check whether there are relevant news/projects/rumors produced from there. Stay wise, trade cautiously.

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MARKET SENTIMENT FOR THE NEUTRAL PRICE ACTION OF #BTC? The market might be looking neutral but what would happen (most likely) will be... Both long squeezes and short squeezes could potentially happen as this is the first time BTC has reached a record where the demand is still high even though it's sitting in its resistance. As this phenomenon continues to reach its heights, we will be continuing our precautions in order to take the best trading actions and decisions as we already know how the market traps positions that aren't well-planned. Right now, we're still awaiting for the next price action of BTC and once we get the results we needed to verify, we can take more trades that will be highly profitable. Stay wise, trade cautiously.

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MARKET IS STILL LOOKING NEUTRAL: WHAT DO WE DO NEXT FROM HERE? It looks like the 2nd possibility might happen where we have highlighted it with 32% possibility. Although, even if any scenario occurs, it will be fine as long as follow the strategies that we've been implementing ever since. The number 1 strategy that we can use on a neutral market is to take partial profits (5%, 10%, etc.) in the first target profit. Also, once the second profit hits, we can setup a breakeven by putting our stop loss at our entry price in order to have a no risk trade or we can also even put our stop loss at any target level in order to profit even when the market reverses. The times that we can hold our profit, set the stop loss at target profits are when #BTC is mostly stable as the altcoins can proceed with their usual rallies since they're closer to their support key levels. Right now, once BTC settles its sentiment, we can keep on taking more trades and we can have more assurance on the expansion of target profits. Stay wise, trade cautiously.

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