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Keep the faith, don't make desperate decisions because of these fluctuations. The general market outlook is bullish, despite these corrections... anyone who has been trading for a while knows that when a trend reversal occurs in BTC the dump is big, fast and unstoppable. We are on the verge of a new ATH, these corrections are expected and even desirable. The market doesn't move in a straight line, okay?
It seems like a flight of chickens is coming until 66 thousand. It's still not the high we would like, but at least it takes us a little further from the bottom (which isn't a big deal either, considering that just one red candle can take all the progress away, all it takes is for a whale to pass by)... anyway, let's go one tick at a time 💪💪💪
With any luck, this will be the double bottom that takes us back to the 70k level. Unfortunately, if it goes sideways and the 60k support doesn't hold, we'll see ourselves at the next support in the 50k region.
PS: Neither I nor anyone else can say anything. my posts are just insights from someone who is floating in the market at the mercy of the whales' movement. Be careful with these people who say they know and be ready for all scenarios.
This triple top was formed on the daily chart. In these cases, we operate as the OCO operates (which is also a triple top type, but with a higher central top): if the market does not go down the neck line, the trade is maintained and if there is no reversal, it will be the exit point. BTC surprisingly respected this neck line support, unlike previous falls, such as the one in 2022. This fact strengthens the possibility that it is just a correction of the long upward movement that has occurred in recent days. Stand firm, fight for your positions, and never sell immediately during a big drop. Even if it's an eviction, there's always a rebound and a chance to get out with less loss. And remember: no one knows the future, stay alert.
"OH, MIMIMIMI... TECHNICAL ANALYSIS DOESN'T WORK WITH CRYPTO, THERE ARE A LOT OF WHALES MANIPULATING THE MARKET"
Technical analysis is the study of the movement of whales... Without them there would be no movement, as sardines are not capable of moving the market... not for crypto, not for any asset... you know that shitcoin you bought and didn't Has it been moving for years? So, this happens precisely because the whales are no longer interested in that currency and left that market.
Applying the Pareto principle, widely used in finance, we can roughly estimate that 20% of players are whales and they alone account for 80% of the market. The other 80% of players are mere sardines, with low capital, incapable of moving the market on their own and, therefore, only move in the wake of these whales, "eating" the remains they leave behind...
So, dear sardines, stop talking nonsense... To move a tick in any market, you need a few hundred thousand dollars. Your 0.00000001 BTC is not even capable of tickling the market, let alone forming any impression on the charts.
That said, understand that technical analysis focuses on graphical and statistical analyzes generated by significant movements that only whales are capable of performing.
Also UNDERSTAND your INSIGNIFICANCE in the market!
You are neither bulls nor bears, you are beautiful and shiny sardines 🎣🎏🐟🐠!
About $BTC on the 3-day chart... despite the formation of a large bullish triangle on the 4-hour chart time, this triple top formation, which resembles the cat's head 😾, on the 3-day chart is worrying... The analysis technique is not absolute and many patterns often fail. Therefore, I believe that in the next 3 days, if BTC does not break this ATH region strongly, the price will return to extremely low regions and the plan is to liquidate my positions and return after the drop.
Before you panic and sell at a loss, think about cryptokids profiting from your money and hold on until the end. We are not here to finance Lamborghinis and exotic weed for anyone other than ourselves. 🗡️🏴⚔️
It broke to 69k, unfortunately, but, fortunately, this mega candle appeared, reversing everything and confirming the bullish strength in the LTA region. That's it friends, let's enjoy the journey, who knows, maybe today we'll even reach the ATH region.
On the 15 min chart, after forming 4 bullish flags and reaching the 71 thousand range, $BTC lateralized and is now moving in this rectangle. Rectangles usually indicate reversals, but it is not a pattern with a high probability of success, especially in this case, where the price is religiously following the LTA (orange line) formed weeks ago. Let's hope for an upward break, but be aware of a possible return to the 69 thousand region.
📊⏳ **Time Compression in Charts: Analyzing Multiple Intervals for a Complete View!** 🔄🔍
Dear Crypto Community,
🕰️ In technical analysis, we come across a unique characteristic of charts: time compression. Sometimes it feels like we are watching a fast-paced movie, with market movements unfolding at a rapid pace before our eyes. But why is this important? And how can we use this compression to our advantage?
🎯 The importance of analyzing multiple time frames on charts cannot be underestimated. Each interval provides us with a different perspective on the market, allowing us to better understand operational scenarios and set goals more efficiently.
🔍 By looking at a shorter time frame, such as the 15min chart, we can capture short-term movements and identify more immediate entry and exit patterns. This is useful for traders who seek quick profits and want to enter and exit the market in a short period of time.
📈 On the other hand, when analyzing longer time frames, such as the daily or weekly chart, we obtain a broader and more holistic view of the market. We can identify long-term trends, significant support and resistance points, and set more ambitious profit targets.
🔄 By combining analysis across multiple time frames, we are able to gain a more complete understanding of the market, identify trading opportunities with greater accuracy, and make more informed decisions. It's like putting together a puzzle, where each time interval is a crucial piece that contributes to the bigger picture.
💡 Always remember the importance of analyzing various time frames on the charts. Stay flexible, adaptable and open to different perspectives. With a multi-faceted approach, we will be better equipped to deal with the complexities of the market and achieve our trading objectives more efficiently!