a bearish pattern. take care of buying long of this pattern. | denden on Binance Square

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Bearish

a bearish pattern. take care of buying long of this pattern.

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#BTC/USDT🔥 The reason why I don't trade on this level. We know for a fact that based on a strong price action that the Bitcoin and the whole crypto market is in a bullish long term trend. However, the current price is too parabolic and too high for it. We need a healthy pull back or a reaction to sustain the trend. So, at this level, we don't know what we trade. Long or short? if we became an overextended short. We lose money. If we enter a long position too early. We lose money. Trying to anticipate the price movement of the market on this level might cause you to take multiple cut losses and will take a hit to your capital. A capital that we should have when the next rally starts. Of course after the pull back. As a trend follower trader like me. I hate this price level. Good luck!! and happy hunting! #Write2Earn

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#API3/USDT Never ever trade a strong token specially when the price action is currently happening or in very volatile nature. Many traders get liquidated with an idea of shorting the top price of a current trending token. But they didn't realize that usually, a strong rallying token will continue to go up once they accumulated a significant amount of short seller to squeeze. The strong token usually goes up even more because of the liquidation or cut loss of the short seller. That's why I always advise people to wait for the price to be dull and weak before short selling it. Don't try to sell the top price. You're just putting more risk and losing more capital the more you try to short the top price. Api3 is the same as ID, it's still bullish in my analysis. Good luck and happy hunting! #Write2Earn

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#OP/USDT As I mentioned in my previous post. The #OP/USDT is a bullish token. I believe that it will soon break out the all time high and will make a 100% to 200% price action. Usually, after long consolidation. The price that breaks the all time high becomes too bullish that it can go as high as 100% or 200%. I now have an entry point. As my trading strategy, I will hold and hold tight to ride this bull market specially the #OP/USDT token. Not just hold, but I'm also gonna add more in my position the more it goes up. For my risk management, I usually don't use average down as it is more risky and prone to wiped out your entire fund. I am more on cutloss and average up. When the price continue to move in my favour. I will add more. However, if the price didn't go in my favour, I will cut my losses and cut it quick and small. I believe this strategy is called pyramiding. 25% for initial entry. If I am correct, I will add an additional 25% on a good entry point. Then additional 25% then the last 25%. For as long as the price is continue with my bias. If in case that in my initial 25% shows me a loss and hit my cut loss point. Then I will cut my losses quickly and reanalyze my trade. So, for now, I am just holding tight and looking for a good new entry point. Good luck and Happy hunting!! #Write2Earn

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#BTC/USDT🔥 This is the area that usually I don't open a trade, hold a current position or take profit on my long position. I believe that Bitcoin and the whole crypto market is bullish in the long term. However the current price level of bitcoin currently is quite dangerous for short term long positions specially if you do not have a very good buy area. So, as for my risk management. I usually don't trade, hold my current position or take profit in my long position. Opening a new position in both short or long positions is a bit risky in my risk management. Since it may be very volatile at this area or I may not be able to put my position in an ideal area to avoid a shake off. Sometimes waiting without any position is a very good risk management method to protect your profit, capital and your psychology for the next good move of the market. I hope this helps any of my readers to get an idea on my risk management technique. Good luck and Happy hunting!! #Write2Earn #TrendingTopic

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#ID/USDT This is the moment when luck meets opportunity! Whenever the price consolidates in a specific area for too long that the 20 moving average catches up. It usually continues to go up even more When the price pump, then consolidates and then goes down immediately , it calls distribution. But!! when the price pump, then consolidates for quite a long time without breaking down in a certain area. It will shoot up sooner or later and it calls accumulation. please note that the accumulation is not only happening in the bottom. It can also and usually happens in the top. specially when it nears all time high. Good luck and Happy hunting!!

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