Topic: It was easy to know the SELL of this week with a simple chart analysis (Read 488 times)

I'm with you on this, and in fact, no trader or investor with this mindset will lose their money unless they do not have a good strategy and management. Trading needs us to have alternative sources of income so that we can remove our minds from 'getting rich quickly' through it which is the main source of emotion that makes people lose. And if done this way, one could make a huge amount without even noticing over time.

There is this account I opened with $3000 in February specifically to trade gold. It hit the ATH balance of almost $21,000 this month, which is an ROI of about 700% in just 4 months. For me, I felt the success was slow, but when I realized how difficult it is for others, I continued with my cool approach of not risking much, it preserves trading accounts.

Thanks for the question. One thing about me is that I'm a dynamic trader and I trade only the trend of the market, and I could decide to trade any time frame today or use multiple time frames which I do often. By this, a lot of signals have been detected after opening this topic and I'd bought and sold the market for good by the guide of the 4H and 1D charts aside from the 1W pattern.

I also partook in the last bullish movement that happened recently. After all, it's about making money irrespective of where the market faces.

Based on when you wrote this, I'm not sure even sure that's true back then. Bitcoin was only down around -5% from late March prices of $27K to $28K to around $26.5K as of when you made this comment.

I'm referencing this has to me it seems clear a lot of buyers >$25K were actually buying for the long-term, similar to those who bought <$20K. So being down -5% when you plan to hold for years is somewhat irrelevant in the world of Bitcoin, it just means you didn't buy the absolute bottom (which is never necessary either). You can also tell so far based on lack of selling between $25K and $30K for reference sake.

As for your initial TA and now with some hindsight, selling around $26.3K on the basis of price going considerably lower wasn't the worst idea admittedly, as price could have returned to $23K or even $20K etc. My main issue is the lack of "up" signal when Bitcoin broke it's downtrend around $27K. As now there are sellers around $26K that would theoretically be waiting to re-enter the market still.

Overall this kind of reminds me of DataDash, who used to be a very popular YouTuber, but since selling Bitcoin around $24K / $25K last year, and failing (being unwilling) to re-enter again at $25K, looks like another participant who is being left behind. Baring in mind that selling at $25K when price drops to $15K isn't the worst sell either, but failing to buy when price returned to $20K or $25K was (so far) a massive error.

So my question, do you still see price returning to $20K or otherwise happy to buy at $30K, if you missed out on $25K? O did I miss your return to being bullish again at a certain price level?

The fact that we decided not to be okay with all those falls is the thing that makes me the proudest. I mean we are talking about not being able to crash, it tried to crash and we recovered from that level and that's a good thing. I think it's important because it allows us to not be worried about anything like that ever again.

I think it should be considered a bigger and better deal, since we are talking about a much better thing in the end. I know that people are going to be worried about it one way or another and they will wonder if it will crash again and harder this time around. Like a lot of people call this a dead cat bounce already, but that doesn't mean that it didn't bounce, it already did, and if you bought at the bottom then you could have survived.

Yes, Today Bitcoin's recent surge to 29k has provided strong validation of its resilience, as it managed to climb without encountering any significant rejection along the way. This remarkable performance serves as a testament to the efficacy of technical analysis in understanding and predicting market behavior. I expect Bitcoin to retest May 2023 opening levels and close the CME gap before entering a period of sideways moves.

There may be a small additional suggestion from me here. It is very important not to get involved in shorting Bitcoin based solely on meeting resistance. I have observed many retail traders choose short positions simply because of the prevailing resistance level and bearish sentiment. However, it's important to realize that Bitcoin often behaves the other way around, catching shorter people off guard and causing significant losses. So, Let it shape the Price action Once Bitcoin experiences a slight cooldown.

Those who are already working as investors certainly know how they will take risks and be patient when investing in certain assets so that they will not think of getting big profits as soon as possible. Even though their basic goal is also looking for a lot of profit, that doesn't mean they will immediately hope for an asset like Bitcoin. And maybe a lot of people you say are those who are new to Bitcoin so their minds are still too short when they want to expect immediate profits in Bitcoin.

Fundamental is first meaning yeah some news can change direction or made the technical analysis faster move to the target. Since news is unpredictable we can only predict the technical analysis.

Tho even tho are good on technical news always can beat the market  Especially the US news like interest rate or like the SEC 

Like you, I have been following the pattern till today, it's still very much valid and might remain like this in months as the monthly chart confirms a bearish trend too. It was delayed though, this is normal in some market conditions, that's why it's always good to be patient with your view, especially when there is no viable opposite pattern formed to counter your expectation.

One thing I have noticed about the technical analysis, particularly on the long-term disposition is that, no matter what, the market tends to align for the pattern for it to be realized. Surprisingly, even the news and economic data would work in favour of that direction in most cases.

Well the bearish already started again from the SEC news.

Daily candle Bitcoin retest at 26K level and that is 200 EMA and also previous support hope the news is clear and rebound from that

Many people want to get big profits immediately when investing in bitcoin, if this is in our minds then we must learn, many people are successful in bitcoin because they invested when bitcoin was not yet popular and of course the risk at that time was bigger than now, and as long as we can be patient then we will be lucky and profit.

And I think the analysis is still valid up to this point, with the recent SEC with hunt against exchanges, we've seen the price going down to as low as $25k, in which the graph being drawn up by the OP can't be seen along that line.

So good for him, if he was able to sell because of this analysis and take the profits. Although I would say that I did sell around first week of April, not because I think it's the perfect time, but I needed some money for emergency purposes and looking back, I would say that I timing the market right as well as it is way above what the current price. But I have to get it back right away though, some DCA to continue stacking sats.

Yes, everyone has different views, it's that's normal. Well, the Market is retesting the resistance level that was previously broken in the "Falling Wedge" pattern. If price manages to get that level to turn into support, this is considered a positive (bullish) event for Ethereum and the altcoin market as a whole. This could indicate a possible increase in the price of Ethereum and other altcoins. this is what it looks like today.

Trading is not easy my friend, but when we train well, it might be easy, and after this, we can work on our emotions. At times, there are so easy patterns that would present themselves to us, and if we are bold enough to take the chances, it might be worth good fortune within a short while.

I will kick against this, it's not good to be a blind trader or holder, we should rather be speculative to be sure of what we are doing. Imagine those who bought Bitcoin in late March this year, they would be regretting their actions now. Bitcoin is to be bought at the lowest possible price, and we can get to know this through a series of analyses, not just jumping on a bear market unknowingly.

This could be painful seeing how your investment is poorly performing.

It seems that profit is very easy if we think it's easy, unfortunately many people are too afraid to buy for fear that the price will go down, and in my opinion the best thing right now is to buy immediately, if we focus on long-term hold then we have a chance to profit 100x or more but if we make it daily trading then immediately sell when it has a profit of at least 5%.

But to my greatest surprise, nothing was affected by this issue of bitcoin tokenization with the use of ordinals inscription, has though many had thought things would have gone wrong so badly through this but it bever happen as a result of such, but since you made it clear and point blank that if it's an elongated one, there might be possible challenges with the bitcoin network, and now things were already at peace even though they might not have been as before, but I here have been a rapid positive change.


Just as i always do when it comes to how i make my feasibility study, i take in considerable consultations from many angles and relate them to the past events on how bitcoin has been before concluding on my final view, yet sometimes we may not be still accurate about it.

None was suspected as well, and it's true that one could just check the past deeds of the market and make drawings that would make it looks as if he did perfect work. Well, I pass that, I live inside the market and I analyze the market at least 15 times in a single day. This is not a joke as I analyze mostly the 4H, 1D and 1W, so I don't see how possible that pattern could slip through my finger.

I think you did a good job there, the market was able to slip below $26,000 after then and has not been able to breach below $25,000. But as brilliant as that is, mine is still valid as well as the market stays below my trendline resistance, and is getting close to $26,000 already, which makes my speculation still active for the test of below $20,000.

Now, you didn't speak like a true trader, viable speculation is real and what I do daily is a testimony to it. I trade many assets and I can tell you that above 85% of my trading commands are right. This means that what you don't know will always be a mystery to you just like it amazes you now. It's all about learning and constant practice through drawings and the use of other technical analyses that are not dealing with indicators like you often used. Try this, then you improved on your targets which seems surprising even as a few traders achieved regularly.

And since no one is a witch here, it doesn't mean it must be 100% accurate, after all, we are just speculating.

Get used to the psychology of the market, the market has many conditions that it could follow that will either favour a trend or opposes it. It could make a deeper correction, and it could reverse even as you think it's still correcting. That's why traders should get ready to adjust to any market condition as any market could be short, medium or long-term in trend, and so are corrections too.

No hate but it's always easy to draw a line on a chart and say I go it right. Every analysis seems like correct on hindsight and after the fact. I can also draw a line on a chart and tell that I knew it would happen. Complete bs right?
Show the result. This may serve as a reminder that when you are in the market, the goal is not to be right. The goal is to make money. How much % did you make? or did you just make your self believe that you did get it right.

Learn to differentiate "knowing" where the price is going to actually do "trading" and make money out of the market.
Again, drop your ego. Stop being right, aim to make money.

Welp, it's nice that your TA worked out for you and that you find it easy to know when to sell. As for me though, I still can't say I'm winning always on my trades be it on bitcoin or altcoins. I still struggle from time to time and make bad trades since in some cases, the indicators I use on one trade along with the strategy sometimes do not work on other trades, not to mention the confusing patterns that don't even work out that often. I guess I am still finding my sweet combination of indicators, time frames etc.

Just as much you need to use the knowledge and skills you have accumulated over the years, your experience is also incredibly important, as you can easily remember a time in which the market moved in a certain way and this tells you that something is about to happen before it is reflected on the charts, that experience is priceless and it can be the difference between obtaining massive losses or suffering tremendous losses, which is one of the reasons why trading is so hard and difficult to master.

No, it was easy to draw speculation based on the current situation and price trend but the problem is we really don't know what will happen next that is why all of these things usually fail. That is why I don't consider trading analysis to be too easy, sometimes it was a gamble, and sometimes I used my instinct as well. We can never have assurance in trading but we really have the chance to earn if we are good at analyzing the market trend. And most of all, I don't buy BTC when it was at its peak, I'd rather wait to have some corrections and take advantage of it.

We looking at this from the weekly which did look bearish on this time line, but if we use multi time frame analysis we shall discover that on lower timeframes markets are actually bullish on say the 4 hour or hourly and this is what am seeing, especially that there was a break of structure on the higher timeframe , a pull back is expected and this is whats expected in the coming weeks as we counter trade.

Market direction can be known using technical analysis and this way we get to know the market direction, but because  of external  factors such as new regulations,  political influence etc these will always affect the market direction and not allow us to be always right.