Bitcoin — Why Yesterday's Move Was Rather Bearish! I know I know: Bitcoin jumped almost 5%. The bulls kicked the bears out of the town. We are so back! 100k is next! If you have read something like this, please unfollow the person immediately. But let's start with the positive aspects: Yes, the bulls are still here, and it was good to see that the fake bear flag didn't play out (surprise, surprise). However, there are three reasons why I am convinced that Bitcoin won't go much higher at this point. 1 — Rejected at Key Level As lovely as the pump was, the bulls lost steam at the crucial level: 57.5k. This level is the bottom trend line of the consolidation channel. It looks like the beats were waiting to punch the bulls in the face. Therefore, yesterday's price action looks like a retest of the breakout five days ago. So far, the bulls have failed to push through. 2 — No Higher High, Yet Currently, it looks as if the price wants to reverse at the 57.5k level. If this is the case, Bitcoin has made another lower high, which further seconds its ongoing downtrend. 3 — CME Gap Finally, we have a CME gap slightly above 54k. Typically, these gaps get filled sooner or later. They act like magnets unless there's strong bullish momentum (which I don't see right now). Putting It Together The bulls are alive—that's good. But the chances of going (much) higher at this point are low. A lower high, rejection at the key level and a CME gap that wants to be filled make another dive likely before we finally take off.
Bitcoin is going to $100,000 sooner thank you think but…
Most of you are going to say: 1. Bitcoin is down 33% and the bull run is over.
2. Entities are selling their Bitcoin. German Gov't, Mt. Gox, FTX Creditor.
3. The Bank of Japan is raising rates. The global market is going to collapse. But did you know:
1. The German Gov't has no Bitcoin left to sell. Mt. Gox Creditors and FTX Creditors are not selling.
2. The Bank of Japan says no more rate hikes.
3. The FED is expected to cut rates in September. Lower rates, more money.
4. Crypto is being used in the election. Trump and Kennedy are pro-crypto. Even Harris is trying to join the party.
5. Crypto is in the Senate. Sen. Lummis proposed a Strategic Bitcoin Reserve bill that aims to raise 1 million Bitcoin within 5 years.
6. States are passing a bill to protect Bitcoin Rights. Oklahoma and Missouri have passed the bill. Ohio, South Carolina, Mississippi, Tennessee and more have proposed the same bill.
7. Institutions are buying Bitcoin. Microstrategy is raising $2 billion to buy more Bitcoin. Metaplanet is raising 10 billion Yen to buy more Bitcoin. Along with these two is Semler Scientific which continuously buys Bitcoin.
8. Bitcoin and Ethereum ETFs. Bitcoin ETF is successful with over $50 billion onchain holdings within 6 months. Ethereum ETF have $6.6 billion onchain holdings within 12 trading days.
9. Institutions are reporting that they hold Bitcoin through Bitcoin ETF shares. There are over 700+ institutions for Q1 2024.
10. Morgan Stanley has its 15,000 financial advisers recommend Bitcoin ETF to its wealthy clients. **** The world started to adopt Bitcoin. So if you are still bearish on Bitcoin, then you are looking too close to it. Step back, zoom out, and then you can see the bigger picture.
$BTC will pump to $68,000 & $70,000. Here is full detail why?
First of all , Alhamdulillah as predicted 2 days ago when price at $67k#BTC☀ ☀ drop to $64K which is our buying range. For proof check below mentioned post.
Note: Read full post from first line to last line carefully . Otherwise it is harmful for you to read partially .
So, let's discuss what is next movement of BTC and why? The answer is that BTC will pump toward:
1. $66,200
2. $68,218
3. $69,900
These are our t.p for upward direction. Recently as shown in below image BTC is forming rising wedge and trading at trend line support . We can see a bounce from here so we have added 50% of our portfolio in BTC and alts coins out of 80% that we sold at 67K. We will accumulate alts coins and BTC in range of $64K with 50% and wait for pump. Also we will keep 30% free to buy in range of $62,200 - $63,900 if market give opportunity .
Note: These are my personal buying and selling zone. Do your own research before investing . Theme of talk: Buy with 50% around $64,000 and 30% at $62,900 if market allow. After buying wait for 66K, 68K, 69,900.
Complete 100 likes for next analysis . Follow #MU_Traders. for more updates .
seeing so much bad advice being shared, I felt compelled to step in. Here’s my take:
### Mindset Over Mechanics Trading is 90% psychology and only 10% skill and analysis. Developing a trader’s mindset is crucial. For those serious about understanding the psychology of trading, I highly recommend *Trading in the Zone* by Mark Douglas.
### Own Your Decisions Don’t blame the market or external factors. Take responsibility for your actions regardless of the outcome. If you lose money, it’s on you, not the market. Remember, the market doesn't tell you to buy or sell; the decision is entirely yours. Blaming whales or market manipulators is a cop-out.
### Master Risk Management Proper risk management is key. Limit your risk to 1%-3% of your total capital, based on your risk tolerance. While this may not yield massive profits quickly, it ensures sustainability. Making money in trading is a marathon, not a sprint. Instant profits are a myth; chasing them is akin to gambling. And we all know what happens to gamblers in the long run.
### Use Stop-Loss Orders I still see many traders operating without stop-losses and then complaining when they get liquidated. Using stop-loss orders is non-negotiable.
### Position Sizing Learn to calculate the right position size—how much crypto to buy—based on your risk parameters. Proper risk and position sizing are far more important than leverage. As long as your liquidation price is outside your stop-loss, leverage is secondary.
### Final Thoughts The essentials are clear: focus on proper risk management and position sizing to navigate the market effectively.
Here’s the naked truth, folks—I hate to say it, but here it is:
**$BTC** Current Price: $58,460.02 (-3.96%) Slowly but surely, Bitcoin is heading towards the $50K-$55K range. It’s a tough pill to swallow, but that’s the reality we’re facing. If you’re looking to invest or trade, my advice is to relax and use limit orders to buy your tokens. The market’s direction is uncertain, and it doesn’t seem like we’ll see an increase anytime soon.
**$BNB** Current Price: $532.9 (-5.91%) Expect a drop to $500, and if we’re unlucky, it could dip even further below $500. Again, using limit orders is wise to avoid potential losses.
**$ETH** Current Price: $3,186.6 (-5.01%) Ethereum is likely to fall below $3,000, possibly down to $2,500-$2,800.
**Solana (SOL)** Currently around $133, and it could drop below that mark if things take a turn for the worse. Limit orders are your friend here as well.
I hope this makes sense. Just remember, this isn’t financial advice. Please do your own research and never rely solely on someone else’s words. It’s all speculation based on market observations. Avoid buying during dips, don’t hold, and minimize your risk.
Today, I want to remind everyone, especially those new to the cryptocurrency world, of a crucial precaution. It's not about hackers or viruses, but a simple mistake that could wipe out your wallet with no chance of recovery! When updating your cryptocurrency apps on your mobile phone, proceed slowly and carefully. Many domestic mobile phones view these apps, like wallets and exchange apps, as high-risk software or even viruses. Occasionally, you'll be prompted to update the software, and this is when you must be extra cautious. Take a look at the following scenario: after downloading the update installation package, your phone might warn you of detected risks and suggest exiting the installation and deleting the package. Do not click to delete! If your wallet isn't backed up, a single mistake could result in a total loss. With apps like Binance, OK, and others now linked to Web3 wallets, deleting without backup can cause significant trouble. Even though it might just delete the update package, there's a risk the original software could be removed too. Instead, select "Install regardless of risk" and proceed. However, the danger isn’t over yet. Post-installation, your phone might again prompt you about a risky app, suggesting immediate uninstallation. Do not click uninstall! This action will definitely remove your app. Therefore, when updating any cryptocurrency app, take your time and proceed carefully. If prompted again, choose "Ignore Risk." Only then can you ensure everything remains intact and your wallet stays safe. #NewProtocol #BeginnerTrader #Beginners #Write2Earn! #altcoins binance
I must admit this bull market is is worst so far, and in my opinion ETF playing its role. Well it’s not highly likely but be prepared, $BTC can test 58k, 56K and 52K levels. You might be thinking I am bearish on BTC, no I am not! We are in bull market until and unless BTC stays above 50K. Can we enter in bearish market from here? Not impossible but odds are very low. So sit tight, keep accumulating your favourite tokens, a tide will come. How big it will be, nobody knows. I will keep adding $SOL $FET and $JTO in my bag. Good luck!
* :- Hold Your Profits! At the start of a bull market, taking profits prematurely can be a significant mistake. Here's why:
You've endured months of losses and now, as prices begin to rise, you might feel relieved and tempted to sell. But remember, this is just the beginning of the uptrend.
Selling too early means you could miss out on substantial gains. The market is finally showing its potential—don't turn away now. Understand where you are in the market cycle and remain patient.
Allow the market to complete its course. Your future self will thank you.
🔴🔴 Important Notice for Traders 🔴🔴 $SOL $NOT $BTC Calling all futures traders! This update is critical for your strategy.
🔴 The Dangers of Leverage: A Deep Dive I've stressed this point repeatedly: "Newcomers to crypto should avoid futures and leverage. Even seasoned traders with years of experience should proceed with caution." Let's delve into the impact of leverage on the crypto market.
🔴 Unpacking Leverage Leverage allows you to trade with borrowed funds. For example, using $500 with 10X leverage means you can trade as if you had $5000. If the market drops by 10%, your position risks liquidation, prompting a series of sell-offs to cover the exchange's margin. This can trigger a chain reaction of sell orders, exacerbating price declines.
🔴 The Ripple Effect of High Leverage Imagine a scenario where 100,000 traders are using 10X leverage on ETH across different levels. A modest 10% decline could trigger widespread liquidations, leading to cascading sell-offs and significant price drops. The risk of cascading liquidations increases the likelihood of flash crashes, where prices plummet rapidly within minutes.
🔴 Mitigating the Risk of Flash Crashes Excessive leverage poses a clear risk of flash crashes, where ETH and other assets may experience sudden drops of 15-20% due to mass liquidations. This phenomenon mirrors challenges seen in traditional finance, particularly with banks and hedge funds.
Exercise prudence, trade wisely, and avoid excessive leverage to navigate these turbulent market conditions effectively. Your strategic decisions today can safeguard your investments tomorrow. #BinanceTournament #MicroStrategy" #Write2Earn! #alcoins
Altcoins are moving sideways after attempts at a rebound yesterday. Several market areas are trading in this direction with bulls repositioning during mid-week trading. Although slight gains were recorded at press time, sentiment remained low following days in the red zone. Last week, crypto assets recorded sharp losses plummeting the market cap to lows not recorded in a month. SirWin Macro factors led to exits from Bitcoin as the price dropped below $61,000. This sparked a major sell-off in al
From time to time, people ask me: “How can I start my crypto journey?”
Here are my 3 tips:
1. Understand: Take the time to learn about blockchain, crypto, and other fundamentals.
2. Research: Explore different chains, protocols, and projects. Key here is to DYOR (Do Your Own Research).
3. Try: Start small and use a reputable platform. Explore and constantly reassess your strategy. ⚠️ Not financial advice! Just tips I picked up throughout the years.
Common Mistakes and Why Most People Lose Money in Crypto.
Lack of Knowledge
One of the most common mistakes beginner investors make is investing in cryptocurrencies without first studying the market. Cryptocurrencies are not just a new financial instrument; they are also extremely volatile. Ignorance of the basics and specifics of blockchain, algorithms, security, and factors affecting prices can lead to poor investment decisions.
Following the Crowd
Many investors buy at peak prices when the asset has already reached its maximum price due to hype. This is followed by an inevitable decline, trapping new market participants with assets whose value has significantly decreased.
Underestimating Risks
The cryptocurrency market is extremely risky due to its instability and unpredictability. Investors who ignore the need for risk management, such as using stop-losses or diversifying their portfolios, often face significant losses.
Following Signals
On forums and social networks, there are many "experts" offering dubious investment advice or promoting new, unverified cryptocurrencies. Investments based on unverified information can lead to substantial financial losses.
Phishing and Fraud
The cryptocurrency market attracts many scammers. Phishing attacks, data theft, and unscrupulous ICOs are just some of the threats users may face. It is important to use reliable and proven crypto wallets and exchange platforms, and regularly update your knowledge of security measures.
Conclusion
Investing in cryptocurrencies can be profitable, but it requires caution, education, and a clear plan of action. Education, thorough analysis, and proper risk management are your best protection against losses in this complex and dynamic market. Do not let emotions drive your investment decisions and be attentive to your information sources.
Hi everyone ! please attention if you see the price of every crypto currency becomes lower and lower why? because there is addition (in some coins )of tokens, especially in MTL will add tokens onward 26 June . Maybe the price of MTL become great or low but people selling MTL because the price of MTL maybe become lower due to addition of more tokens .
Hi everyone this is whales trap they are slowly taking profit as June ,July is going also news of war.
How I suggested to everyone this time you need to keep hold tightly just and when the bearish mood ll be finished try to put more in your holding ,
always buy in spot with patience and for long terms. Market is falling because of oversold and continue selling also the #hackers attacking continually to theft assets from exchange and from whales.
Except war news other things commonly happen in these month every year however the hackers and scamers ll be continually active until December so keep changing your password dont try to use your emails in multiple websites. Try not to use various unsafe website and VPN.
#Megadrop #MicroStrategy $SOL $ETH $BTC Follow me to get informed latest update.