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CRYPTO MECHANIC

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60 624

-1.68%

5k

0

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It was obvious from $BTC after what the price did yesterday . Read my post below why I said it.

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Do you believe it now, Or still not?

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Being a crypto trader or any financial market trader i think there is no better story than losing money in crypto. we all face losses initially but only those prevails who find out how you manage your losses. The major reason why people lose money in trading is they have no idea why they are coming into crypto. They are in crypto because they see people are getting rich with it or their friends told them it's so easy to make money in crypto come join it. so if this your reason to join crypto you're going to lose money 100% its just like you're going on a war but you don't have any weapon. They don't know why they are buying or selling if they see some green candles going up they buy it , if they see some red candles they just sell it. Not knowing what's going on and why it's happening. * Emotional Attachement* People are emotional towards their profit and losses. if they lose money rather they find the reason why they lose that money they try to take the revenge from the market and they open multiple trades or even high leverage trades to recover that money and they end up losing their whole account.

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The reason why i am saying dropping under $63k may make it more ugly because this $3000 BTC bounce will provide so much liquidity to bears that they can potentially break even $60k The trap will be bigger than the trap we saw under $63200 ish low as it can be clearly seen. For example this price action 👇👇 Price fakeout below the low bounced up but failed to hold the move.

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Bitcoin nicely trapped the bears below that $63200 ish low. Price should not drop under that low if it wants to go up. Dropping back under that low will make it so much ugly. As long as price can hold above it i think it's fair to be on the bulls side.

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