📊 Market Analysis: Looks Good, PT 4
🔍 Observation
The market, particularly BTC and other coins, is showing signs of change. As discussed in a previous part of Looks Good, the weekly candle closing as an inverted hammer 🕯️ signals a potential pause in downward momentum.
Yesterday, I identified market manipulation 🤔 and acted on it in ⏰ Time to Act, PT 1 (ETC).
Today, a reversal occurred, leading to a little profit
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💡 Insights
1️⃣ An inverted hammer after a red candle suggests a recovery or continuation.
2️⃣ If smaller timeframes (e.g., 12-hour or daily) confirm this with a double pattern, it could lead to:
Filling the tail 📈
Possible upward movement 🚀
⚠️ BTC and other coins show red hammers or shooting stars on the monthly chart. If they close unchanged, it signals concerns for the market’s health.
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💡 Hints
🕯️ Candlestick patterns on higher timeframes are crucial for BTC and other coins.
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✨ Tips
✅ Monitor closely for double patterns on smaller timeframes, especially daily/12-hour charts.
✅ Stay emotionally detached—focus on data.
✅ Even small profits today can lead to larger gains tomorrow 💹.
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🎯 Takeaway
The market is at a critical juncture 🔑. BTC and other coins need attention. Yesterday’s manipulation provided an opportunity, and today’s reversal added profit. However, the potential closure of red hammers or shooting stars on monthly candlesticks poses a health risk to the market.
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⚡ Action
🚨 Stay vigilant—watch BTC and other coins closely as we approach the weekly and monthly candle closures.
📢 Expect updates in ⏰ Time to Act, PT 2.
✅ Be ready to act decisively.
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