Looking at the Williams % channel, it has reached overbought, it might attempt to set another higher high before continuing the reversal pattern down to 50% retest at around the $48k level.
DYOR, as these are my analysis I use, dont take as financial advise.
If you re new to trading and not certain when to buy into a market. The best way is to use the most simple way. Using the golden cross method on higher time frames using the 200 MA and the 50 MA. When they cross, it signals trend movement.
On the cross, draw a horizontal line, making it your support and resistance barrier. When a market crosses, it will also retest to that same level, it also allows you to cancel out false breakouts.
A very simple 101 method, and allows you to put in stop losses properly when entering a market.
I used this method on other exchanges, and it is the best way, also, dont target high leverage. I always set my market at 5:1, for every 1% gain, I get 5% return. Also allows you to not lose your funds much faster.
When trading, make a trade of 1% of your overall account, allows you to lose less, and if market works in your favour, your 1% trade, is a 5% profit.
The worst case retest level for BTC would be 30400 level. That is if 49000 is broken and trading is below that level. Which means weekly is pulling back to the 200MA for retest.
This was bound to happen, as the weekly was trading too far from the 200MA for some time.
Once retest is completed, then BTC is gonna break previous ATH after bearish retest is completed.
Retest is healthy for a balanced market, if no balance, it wil collapse on itself, as selling pressure will just keep increasing if no retest is done.
Retest was done as I mentioned, broke down again, meaning downward movement
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#BTCâ #MarketDownturn #cryptobearish 60587 level is a retest level, if it breaks, retests and stays above, BTC going âïž. If retest, either breaks through, and comes back down, or stays below and doesnt break, BTC âïž
#BTCâ #MarketDownturn #cryptobearish 60587 level is a retest level, if it breaks, retests and stays above, BTC going âïž. If retest, either breaks through, and comes back down, or stays below and doesnt break, BTC âïž
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Bearish
#BTC #MarketDownturn
Remember this in March.
Expect retest level down to $38500 level if the retest is successful and drops below $48500
Always expect market worst conditions when doing trading, dont just always think its going up up up without expecting proper retest.
Expect retest level down to $38500 level if the retest is successful and drops below $48500
Always expect market worst conditions when doing trading, dont just always think its going up up up without expecting proper retest.
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cryptonion-cro
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#BTCđ„đ„đ„đ„ #BTCAnalysi
Looking at the Williams % channel, it has reached overbought, it might attempt to set another higher high before continuing the reversal pattern down to 50% retest at around the $48k level.
DYOR, as these are my analysis I use, dont take as financial advise.
So it has begun, good time to wait for those sweet spots to accumulate holdings and wait for Bull run to return, buy low, sell high.
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cryptonion-cro
--
#BTCđ„đ„đ„đ„ #BTCAnalysi
Looking at the Williams % channel, it has reached overbought, it might attempt to set another higher high before continuing the reversal pattern down to 50% retest at around the $48k level.
DYOR, as these are my analysis I use, dont take as financial advise.
Guys, dont take peoples word to either by or sell coins.
You were blessed with a brain and instinctive thinking.
1. Plot technicals that works for you 2. Your eyes see something, your brain analysis the information 3. YOU HAVE SIXTH SENSE telling u if its wrong or rite, its not an emotional decision, its your body reacting to warn u
I share my market reads, but I dont tell people to buy or sell.
Rather trade with your head, and your sixth sense, as your psychological brain is reading emotions on people in the market.
The same sixth sense that warns you or makes you feel uncomfortable around certain people, trust that instinct, I have and still do.
You have the power to become successful yourself without relying on other people to tell you to buy or sell.
Guys, dont fall just for free links etc. Before you know, your phone, wallets or anything personal is hacked and you lose everything.
I have been scrolling through posts, and there are so many. Be careful, dont let greed make the wrong decision for you.
People showing off so many coins and money, but they dont show it reflecting as live and valid in their Binance wallet, if you cannot show its in your Binance wallet, not testnet or anything of that kind, then I sont entertain.
Free give aways is only red packets on Binance, which is legit, not like all these other things I have seen.
Be very cautious.
Slow accumulation and flexible staking is the way to go.