DO YOU HAVE A SURGING ALTCOIN TRAPPED? AVOID PANIC!
Initially, before we read the paper. The purpose of this post is to educate novice traders who are having difficulty with their trades, not to make fun of those who are having difficulties.
Let's use $LOOM as an illustration.
Some traders are questioning how things went because they were stuck in the critical levels where the majority of sellers would have already partially sold the bags they had held for this altcoin. This is the challenging aspect of trading. You have no way of knowing the precise location and time of selloffs. You can, however, look at the ESTIMATED price and time at which they would take their positions during selloffs. There are no issues for those doing spots because they can simply keep HODLing, DCA, or adding to their holdings. Future traders on this altcoin might be taking on excessive leverage and failing to consider the potential for a brief reversal, and a swift one at that. Shakeouts are designed to address individuals who take "too" early and "too" late positions in any market. It would be prudent to stick to identifying the "possible" locations in which you can enter and exit trades. That is all there is to it.
HIGH SELLING ORDERS FILL $WOO WITH STRONG RESISTANCE: WHAT'S NEXT?
Following a 48.07% increase overall from its monthly low rebound. More sellers have now disclosed their selloffs as a result of WOO. As a result, there is a good chance that the weekly average will correct or even approach its low. However, the price of Bitcoin would continue to test more resistances if it had strong momentum following the corrections. As of right moment, we anticipate a breakout in this retest range following the completion of the corrections.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
