⚠️ Why It's Not the Right Time to Buy ✋
📉 Despite the tempting green candles across the crypto market today, jumping in now might not be wise. Here's why:
1️⃣ Chart Perspective: Take a look at the first screenshot. $BTC is still trading within its downtrend channel. Without a breakout and higher high, we could see a swift drop after today's pump.
2️⃣ Inverse Head and Shoulders: While #Bitcoin appears to have broken out of this pattern, we need to see a daily chart close and ideally a re-test of the neckline for confirmation.
3️⃣ Trade Signals: Many signals are appearing on the 1H chart (see screenshot 2), but most have poor probability. Confirmation and quality signals with high probability are key before making any moves.
➡️ Trading is all about risk management. Waiting for confirmation, breakthroughs of crucial resistances, and high-quality trade signals is essential.
Remember, patience is a virtue in trading! 📊
