The stock market was generally down yesterday even though the poster child of the AI revolution #Nvidia posted better than expected results in their quarterly earnings.
Apparently, their success failed to impress investors. The stock market has started behaving more like crypto and crypto with their patient trades is becoming more like the stock markets. 😜
Yes broader market sentiments, rate cuts, inflation data are important. However, past price movements cannot be neglected either. If a price has bounced (reversed) at an area then the chances of doing it again are always there. Take these price actions when deciding to enter or exit a trade.
Example $BTC price has been dropping on a daily basis but could find support at the 62,000 area.
Looking to trade smarter, not harder? Longer time frames give you a clearer picture of overall market trends, cutting through the noise of short-term fluctuations. This clarity is a lifesaver, especially if you can't watch the charts all day—less stress, more strategy! Plus, longer time frames promote discipline and patience, the secret ingredients for long-term trading success.
Ready to trade with a clearer vision? Embrace the power of longer time frames and transform your trading game! 📈💪 #TradeSmart #CryptoStrategy