Trading Tip Of The Day #2
#cryphthoughts
#cryphcares

Trading Tip Of The Day #1

#cryphthoughts
#cryphcares

#BCH has shown a consistent bullish trend within a rising channel. Currently in a correction phase, it's nearing the lower channel boundary and retesting a significant demand zone marked in red. This highlighted area presents a compelling opportunity for potential buy setups, as it intersects with both the red demand zone and lower trendline, serving as a robust non-horizontal support.

#BTC After bouncing off the 25,000 support rejection, BTC surged by 50%, confirming the upward trend. A newly identified rising channel in black suggests potential bullish momentum.

As BTC nears the upper boundary of the channel, converging with the 40,000 resistance, a pivotal factor for sustained bullish control is a weekly candle close above 40,000. This could trigger a parabolic move towards the 50,000 resistance.

However, given BTC's proximity to a significant resistance zone, a bearish intervention remains possible. This could revert it to a range between 25,000 and 30,000, especially if lower timeframes signal a bearish reversal.

After bouncing off the lower wedge pattern boundary, ETH shows bullish signs. Yet, it's nearing a strong resistance zone 2150-2300, coinciding with the upper trendline, acting as an overbought area.

For a sustained bullish outlook, a weekly close above 2300 is crucial. This could pave the way for a move towards the next resistance at around 3000. Conversely, staying below 2300 leaves room for bears to trigger a correction, possibly confirmed on lower timeframes.

Keep a close eye on price action at this pivotal level for meaningful market insights.

#XRP Following its breakthrough above the 0.55 level as discussed in my earlier analysis, XRP has transitioned from the accumulation phase into the markup phase. To sustain the bullish momentum, we're closely watching for a decisive breach of the 0.7345 resistance, highlighted in blue. However, it's worth noting that XRP might encounter resistance at this level, particularly when examined on lower timeframes. In such a situation, a correction down to the 0.55 support level could be expected.

XMR has been trading within a broad range of 130 to 188.
At the moment, XMR is situated near the upper limit of this range.
For the bulls to establish dominance and make a long-term takeover, breaking above the 188 resistance is crucial. If this occurs, we may anticipate a bullish push towards the subsequent resistance at 250.
Conversely, the bears could regain control by rejecting the resistance. A bearish reversal signal on the H4 chart would confirm this scenario.

After a bearish trend lasting for several months, ROSE has now successfully surpassed a key prior high, highlighted in yellow.
To sustain bullish control and establish a long-term dominance, a breakthrough above the 0.055 level is essential. This development would likely lead to further upward movement, targeting 0.07.
Conversely, if the recent minor low, indicated in red at 0.049, is breached to the downside, we should anticipate a bearish trend heading towards the previous low marked in orange.

In our previous analysis, ETH declined below the 1550 support but has since rebounded.
Yesterday, ETH faced resistance within the 1850 green zone and is currently consolidating within a range.
Bulls must secure a break above 1885 to maintain control.
Conversely, if the yellow zone at 1738 is breached to the downside, anticipate the initiation of a bearish trend.

After i get the pump and dump movement in btc i think there’s an another opportunity to trade. If bitcoin is bought by etf funds the price will increase.

In accordance with my previous analysis, which is attached to the chart, Ethereum (ETH) found support near 1500 and subsequently moved higher. The bullish confirmation occurred after surpassing the recent H1 timeframe high of 1557, as discussed last week. To maintain bullish momentum, a breakthrough above the significant gray resistance level at 1750 is required, potentially leading to a move towards the 1850 supply zone. Bears could reassert control for a bearish move down to 1550, pending confirmation of a bearish reversal setup on lower timeframes, such as H1.

Here is my personal trade in crypto and forex i drop in my private channel, you can check my technical analysis so you can get some ideas how i trade. Always aiming 1:3 risk to reward ratio!

#BTC

BTC remains bearish, confined within a descending wedge pattern. Recently, it has been trapped in a tight trading range. For a bullish resurgence in the short term, BTC must breach the key resistance level near 27,500 and the upper trendline. Conversely, if it falls below 26,000, anticipate further bearish momentum targeting the support zone between 25,000 and 25,250.

$BTC

Bitcoin's recent trajectory has shown a clear bullish pattern, characterized by consistent upward trends in both highs and lows. Furthermore, BTC's current position close to the robust support level of 25,000, a psychologically significant threshold, heightens the expectation that the bulls might swiftly regain their dominance as long as this support holds firm.

$BTC

Entry
26,200

Take Profit
25,945
25,780

Stop Loss
26,480

Before you enter, define your risk management and let the plan guide you through.

$MATIC

After being rejected from the 0.9 - 1.0 resistance zone, MATIC has entered a bearish phase, characterized by lower lows and lower highs—an indicative Markdown phase.

A notable observation is the diminishing size and flattening of impulse movements.

Following Charles Dow's principle, this hints at a potential momentum shift, leading to the Accumulation phase, in line with Richard Wyckoff's framework.

Currently, MATIC seems to be consolidating within a substantial range of 0.5 clearly depicting an Accumulation phase.

For a potential turnaround and the initiation of the Markup phase, a momentum candle close above the 0.6 zone, denoted by the black rectangle, is required.

4 MARKET CYCLE

The four primary market cycles of trading are as follows.

1. Accumulation Phase:
Pros buy cheap, gather assets for gains.

2. Markup Phase:
Values rise, demand grows. Upward trends, breakouts.

3. Distribution Phase:
Big players sell high, prices dip. Downtrends, breakdowns.

4. Markdown Phase:
Prices fall, interest drops. Selling for profit or security.

These market cycles illustrate the typical price movements in the market. However, it's important to note that they are not strictly followed in every situation, and there can be variations and changes depending on market conditions and factors.

$XRP

Following the rejection of the upper bound of the wedge pattern, XRP has returned to the lower bound / black trendline. Additionally, the 0.5 zone, functioning as both a significant support and a round number, adds to its strength. The highlighted arrow marks a robust area to consider for potential buy setups, given its alignment with the support and the lower black trendline.

Trading psychology refers to the mindset and emotions of a trader that can influence their decision-making and trading performance. It plays a crucial role in trading success. Here are some key aspects of trading psychology.

1.Handle Emotions: Control fear and greed to avoid rash actions.

2.Stay Patient: Wait for solid setups, stick to plans, manage risk.

3.Accept Risk: Losses are part of trading; embrace them.

4.Learn from Errors: Mistakes are lessons, not failures.

5.Stay Confident: Believe in strategies, stay positive.

6.Keep Learning: Stay curious, adapt, improve.

Developing strong trading psychology takes time and experience. Traders should work on self-awareness, emotional control, and adopting a disciplined approach to improve their trading performance over the long term.