As predicted, $BTC last month candle eventually closed in red.
If the alternating monthly candles between green and red pattern is still valid, we should expect this month, September to close in green candles.
If Bitcoin eventually closes in green this month, then we might be seeing an eventual break out that sends the price higher to a range of $75k to $80k.
What do you think? Do you think the red, green alternating pattern will play out this month or this month will be an exception?
The last five monthly candles of $BTC has been an alternation between green and red candles. Going by this pattern, this month should close in red but this may be an exception. This month candle is already showing red.
What do you think? Do you think August will be an exception or the pattern will repeat itself again?
$DOGS marketcap is $600m. You don't want to sell your dogs at this marketcap. More pumps incoming .
LIVE
The Fully Digital Sam
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I see a lot of people asking whether to sell their $dogs airdrop token at TGE or not. The answer to this question depends on the marketcap of dogs at TGE.
When you compare dogs to similar $TON ecosystem token like $NOT then you'll have the idea of what marketcap of dogs should be at TGE. If it's far above $NOT marketcap which is roughly $1B at TGE, then you might want to sell and buy later. But, if it's far below $1B marketcap, you would be losing potential gains if you sell.
I personally think dogs will have higher marketcap than notcoin. So, here you go! Make the best use of your $dogs airdrop!
I see a lot of people asking whether to sell their $dogs airdrop token at TGE or not. The answer to this question depends on the marketcap of dogs at TGE.
When you compare dogs to similar $TON ecosystem token like $NOT then you'll have the idea of what marketcap of dogs should be at TGE. If it's far above $NOT marketcap which is roughly $1B at TGE, then you might want to sell and buy later. But, if it's far below $1B marketcap, you would be losing potential gains if you sell.
I personally think dogs will have higher marketcap than notcoin. So, here you go! Make the best use of your $dogs airdrop!
1. Market goes up 2. Market goes down 3. Market uncertainty (characterised by long-term consolidation, unexplainable pumps and dump)
We are in market uncertainty phase. As a trader, you don't want to trade during this phase and want to wait till its clear what direction the matket is going and then go with it.
Stay focus, remain positive during this #MarketDownturn and most importantly, be open minded while you watch out for any possible outcome from this market.
Most cryptocurrencies are at their year-long low and support level. It would be a serious catastrophic event if price continues to go down lower. I don't think that's going to happen.
If you would ask me, this is a great opportunity to by these altcoins with low market cap.
Also, $BTC could do the unthinkable and then reverses at this point.
Do not follow those that predicts the back swan event or the doomsday prophets neither should you follow the up only merchants.
There's no amount of crash happening now that has never been witnessed before in the history of price action yet price always bounced back.
Except you think everything is going to zero, there's no reason to think the worst is about to happen.
Also, you don't need a bull market to make money, you can still make money in the bear market by shorting, so learn to trade the market and extract the most value from it!
Think twice before you hit the short button. $BTC is currently at its monthly support. The best time to short was when price was at $65k. Now, price is at the support level and the chance of a price bounce back is high based on historical price analysis.
If the $50k psychological support is broken, then we can anticipate $45k and subsequently $40k next.
So, everywhere is red. It appears we're at the dawn of a new winter. Even though, you're bearish do not rush to short the market, you'll likely lose your money.
Here is what you should do to make money shorting cryptocurrency if you believe price will keep going down.
Wait for a retracement. Price will often retrace back and won't keep dumping. So wait for the price to retrace first before entering a short position.
By waiting for a retracement first and waiting for the right opportunity to enter a trade, you'll ensure you enter at the best price possible!
Don't short volatile coin, look for more stable coin with big market cap and neat price candle. This will reduce the chances of your stop loss getting hit unreasonably and guarantee more successful trade. You can take a look at coins like $BTC $BNB $ETH and other high volume coin for more stable price movement.
Every time $BTC and the crypto market dump everyone immediately turns bearish and call crypto a scam. If you think crypto is a scam, then you should be shorting the market and you'll make a lot of money.
What these people don't know is crypto is no different from the traditional financial market. They work the same way with crypto being more transparent and decentralised which is a good thing.
So, if you think crypto is a scam then tradfi and the economy as a whole is a scam because the underlying principles and science is the same.
The last five monthly candles of $BTC has been an alternation between green and red candles. Going by this pattern, this month should close in red but this may be an exception. This month candle is already showing red.
What do you think? Do you think August will be an exception or the pattern will repeat itself again?
Uniswap token, $UNI is at its monthly support. As an opportunistic trader, this is a great opportunity for buying.
If you want to trade this chart, here are the three approaches I would recommend:
1. Wait for a general price dump. When it happens, $UNI might drop to $6 to $6.5 at which point a reversal would be expected. The advantage to this approach is that you will be maximising your profit by buying at the bottom and minimising losses in case the support doesn't hold. While the downside is that you miss out if price doesn't dump before going up.
2. Monitor the daily candle for trends and enter trade when a breakout occurs. When it's clear that the support will hold, then you can quickly ape in. The downside to this approach is that you might end up entering late while the advantage is that you have more guarantee of successful trade.
3. Do a DCA. This is known as the dollar cost average (DCA). You buy now with certain percentage of your total investment, wait for a dump, buy again when it happens and continues until the buttom reaches and price reverses. The advantage of this approach is that you are guaranteed of never missing out in case price doesn't dump while also reducing your average cost in case price dumps below initial cost.
Long-term support is more reliable due to test of time and is a good opportunity for buying, however, it's good to be aware that support can be broken at any time due to unforeseen circumstances. Manage your trade accordingly and wait for more confirmation before entering a trade. Also, booking loss early before it grows to substantial amount when it's clear the support is broken will help mitigate further losses.
LIVE
The Fully Digital Sam
--
The opportunistic approach to trading , a smart strategy to maximise profits in long term consolidation period like this.
GM, fellow Binancians!
I want to use this opportunity to share a strategy you can use in long-term consolidation like we're currently experiencing in crypto, it's a strategy I call the opportunistic approach to trading.
What is this approach and how can you utilise it?
This approach involves you as a trader being patient enough to take opportunistic trading at the perfect time.
As an opportunistic trader, your goal is not to enter a trader every day but to wait for the BIG opportunity to arise to either buy or sell. This might be one or twice in a month!
Each month there are times when an asset like $BTC bitcoin experiences significant price move either pump or dump. As price typically moves in a particular range, your goal is to wait until either price dumps significantly within the month to get a good buy discount or pump significantly for a possible short trade or big sell for profit.
Take for instance, Bitcoin has been moving between 70k and 60k for good five months now. You would have made better profits buying 60k and selling 70k each time this happened than just holding your asset or making bad trades through FOMO and end up selling at a loss.
To be successful in this strategy, you need to be very patient to wait for the BIG trade opportunity to arise and not easily swayed by emotions or small market moves or noises.
This kind of strategy is particularly good for periods of long-term consolidation only. While you could make lots of profits buying and selling at support and resistance of a price range, it's noteworthy to understand that price could breakout of a consolidation range at any time leaving you in possible losses. It's always good to plan your trade accordingly by setting a stoploss just in case of an unexpected price breakout.
I hope you found this helpful and learned something new? Leave a comment to share the strategy you employ to trade profitably so we can learn from you as well!
The opportunistic approach to trading , a smart strategy to maximise profits in long term consolidation period like this.
GM, fellow Binancians!
I want to use this opportunity to share a strategy you can use in long-term consolidation like we're currently experiencing in crypto, it's a strategy I call the opportunistic approach to trading.
What is this approach and how can you utilise it?
This approach involves you as a trader being patient enough to take opportunistic trading at the perfect time.
As an opportunistic trader, your goal is not to enter a trader every day but to wait for the BIG opportunity to arise to either buy or sell. This might be one or twice in a month!
Each month there are times when an asset like $BTC bitcoin experiences significant price move either pump or dump. As price typically moves in a particular range, your goal is to wait until either price dumps significantly within the month to get a good buy discount or pump significantly for a possible short trade or big sell for profit.
Take for instance, Bitcoin has been moving between 70k and 60k for good five months now. You would have made better profits buying 60k and selling 70k each time this happened than just holding your asset or making bad trades through FOMO and end up selling at a loss.
To be successful in this strategy, you need to be very patient to wait for the BIG trade opportunity to arise and not easily swayed by emotions or small market moves or noises.
This kind of strategy is particularly good for periods of long-term consolidation only. While you could make lots of profits buying and selling at support and resistance of a price range, it's noteworthy to understand that price could breakout of a consolidation range at any time leaving you in possible losses. It's always good to plan your trade accordingly by setting a stoploss just in case of an unexpected price breakout.
I hope you found this helpful and learned something new? Leave a comment to share the strategy you employ to trade profitably so we can learn from you as well!
$BTC bitcoin may see another correction to a new support level. Even though you're bullish anticipate this correction and use as a buying opportunity.
Don't let any influencer here deceive you, no one knows how price will react.
Two things are possible:
1. If the bull run is still intact and top is not yet attained:
a. bitcoin corrects heavily to a new support ($50k to 60k) in August and rebounds back to finally break the months long consolidation within the same month of August to reach a new ATH of $80k.
b. bitcoin doesn't correct but instead breaks monthly consolidation to reach a new all time high of $80k.
c. bitcoin remains in monthly consolidation and August closes with a price of $50k to $60k (based on historical data this is the most likely outcome).
2. We're at the top and bitcoin break out monthly consolidation in downside direction.
Regardless of whatever scenario the price plays out, being patient enough to watch as markets unfold and show clearer direction then following it by either shorting or longing is key to successful trade.
$BTC is at its monthly resistance level and people expect a price dump to the support level as usual .
While a price dump seems the most likely based on price history, bitcoin consolidation will eventually be broken either upside or downside. To be safer, it's always a good idea to wait for a breakout and get a clearer market direction before entering a trade.
Entering a trade during consolidation (market uncertainty ) could be difficult as price could breakout against your entry point, leaving you in losses and hopes of a reversal. It could create a frustrating experience of having to watch your portfolio swing between profits and losses. If you aren't going to invest long-term, it's usually advisable to avoid investing during consolidation especially during a long started rally and wait to get a clearer price trend or direction to inform your trading decisions.
If you're confident of price breakout direction, entering a trade at resistance (sell) or support (buy) level of a consolation is the best approach as this would eliminate having to FOMO on breakout which could end up turning out to be a "fake out" and ensure you enter at the best price if you're right.
Overall best practice is to be patient enough to enter a trade with a long-term approach either at the top (sell) or very bottom (buy) of a trend which usually marks either the end or start of a new cycle.
$BTC Bitcoin dictates the whole crypto market currently and as such it's important to always wait for bitcoin signal before taking any altcoin signal seriously . One single move from bitcoin could literally validate a strong signal from an altcoin .
Best strategy: Wait for $BTC move and then find altcoin with a strong signal and trade the chart accordingly! With this, you can always guarantee a successful trade by planning your trade using market moves from bitcoin.
Reverse psychology is how you lose money in trading almost every damn time. You expect price to rise but it does the exact opposite of it, fall. When you expect it to fall, it rises.
If you think you would have been profitable if you had done the opposite of all your trading decisions, then you are a victim of reverse psychology .
To overcome this you need to understand one thing, trading is mostly psychological and you need to put emotions aside to be successful in it.
Understand that price will not always continue in a consolation and will eventually breakout . When a price is at the resistance you automatically think it will drop again forgetting resistances are meant to be broken . I forsee same thing happening with bitcoin as it price hits monthly resistance level and everyone immediately turn bearish .
Understand that price will not always go up or down and a reversal is real.
Being prepared for a possible opposite outcome of your expectations and timing your trade is key to overcoming reverse psychology of trading .