BCH/USD Secondary trend The important area Simple rules for work
The graph is logarithmic. This is a secondary trend. That is the fall of the price since May 19, 2021, from the pumping of +666%. The trend is a pronounced downtrend in spite of the significant local pumping of +50-80% within the downtrend.
At the moment the price is in a local consolidation near the area where the trend reversal started last year.
Coinmarket Coin: Bitcoin Cash
I used a marker on the chart to show options for the logical start of the price movement (direction).
Positive.
If the secondary trend breaks through (red line) and the price fixes above the 218-300 zone—the trend reverses and the price goes up (at least, the decline stops and turns into a sideways trend). Bitcoin goes up.
Negative.
A breakout of this zone is unfortunate. Reality of the descending flag (or part of its targets).
Semblance of a repeat of the 2018 fractal structure (see main trend idea for understanding). Let's hope it doesn't come to that... As it will mean that the similar will be not only on BCH, but also on the whole market, i.e., double top working out on bitcoin, if you don't understand what I mean.
The main trend of this cryptocurrency.
BCH/USD Main trend. Breakdown of the channel. The important zone.
Simple rules of conduct in the market, which will help to multiply money, and for someone just to save:
1) Do not enter the market early. Wait for a good entry point with a higher probability of developing the trend direction you want.
A trader should watch 70% of the time, 20% of the time buy, 10% of the time sell. Small market participants (those who lose money) tend to always only buy (their eternal dilemma, regardless of the phase of the market: "what to buy to become a millionaire fast")... Be patient, think rationally, not emotionally. Your entry point should have a good risk/profit ratio, at least 1:3.
2) Enter the market in installments of your allotted amount of money on a particular coin, or limit your risk if in doubt (but the question is, why enter if in doubt?). But even if in doubt, enter in installments (this applies to those who are just starting to trade).
3) Always protect your profits with a trivial stop-loss on its protection, or at least a partial fixing of profits at important levels of resistance (long) support (short).
4) Margin should not be too large, and it is better not to use margin trading at all and work only on the spot. Only those who work in the spot have a significant deposit, and this is a fact)))
5) When working in margin trading long / short, always use a stop loss unconditionally.
If you have a big loss due to knocked out stops on margin, it's worth considering, maybe it's still more rational to work on the spot. Although, perhaps in this case it's not about trading on margin, but about the kind of trader you are (lack of experience, lack of knowledge, problems with the psychology of behavior in the market, the desire to "make quick money"...).
The foundation of your trading is your trading strategy and risk management based on your experience. Don't try to guess what you don't understand. Do not inherit the majority of participants – kamikaze market. Try to evolve and work by gaining relevant experience in what you didn't initially understand. Slowly but surely day by day become better than yesterday, leaving the “experts” and anonymous “I know exactly” screamers behind in the market millstones.
At the moment the price is in a local consolidation near the area where the trend reversal started last year.
Coinmarket Coin: Bitcoin Cash
I used a marker on the chart to show options for the logical start of the price movement (direction).
Positive.
If the secondary trend breaks through (red line) and the price fixes above the 218-300 zone—the trend reverses and the price goes up (at least, the decline stops and turns into a sideways trend). Bitcoin goes up.
Negative.
A breakout of this zone is unfortunate. Reality of the descending flag (or part of its targets).
Semblance of a repeat of the 2018 fractal structure (see main trend idea for understanding). Let's hope it doesn't come to that... As it will mean that the similar will be not only on BCH, but also on the whole market, i.e., double top working out on bitcoin, if you don't understand what I mean.
The main trend of this cryptocurrency.
BCH/USD Main trend. Breakdown of the channel. The important zone.
Simple rules of conduct in the market, which will help to multiply money, and for someone just to save:
1) Do not enter the market early. Wait for a good entry point with a higher probability of developing the trend direction you want.
A trader should watch 70% of the time, 20% of the time buy, 10% of the time sell. Small market participants (those who lose money) tend to always only buy (their eternal dilemma, regardless of the phase of the market: "what to buy to become a millionaire fast")... Be patient, think rationally, not emotionally. Your entry point should have a good risk/profit ratio, at least 1:3.
2) Enter the market in installments of your allotted amount of money on a particular coin, or limit your risk if in doubt (but the question is, why enter if in doubt?). But even if in doubt, enter in installments (this applies to those who are just starting to trade).
3) Always protect your profits with a trivial stop-loss on its protection, or at least a partial fixing of profits at important levels of resistance (long) support (short).
4) Margin should not be too large, and it is better not to use margin trading at all and work only on the spot. Only those who work in the spot have a significant deposit, and this is a fact)))
5) When working in margin trading long / short, always use a stop loss unconditionally.
If you have a big loss due to knocked out stops on margin, it's worth considering, maybe it's still more rational to work on the spot. Although, perhaps in this case it's not about trading on margin, but about the kind of trader you are (lack of experience, lack of knowledge, problems with the psychology of behavior in the market, the desire to "make quick money"...).
The foundation of your trading is your trading strategy and risk management based on your experience. Don't try to guess what you don't understand. Do not inherit the majority of participants – kamikaze market. Try to evolve and work by gaining relevant experience in what you didn't initially understand. Slowly but surely day by day become better than yesterday, leaving the “experts” and anonymous “I know exactly” screamers behind in the market millstones.
Comment:
Let's follow the red scenario indicated by the marker earlier exactly to the values. Not breaking through the resistance of the downtrend, the price descending to the support of the local channel (holding for 6 days by the general date of the market dump) and on the market sinking the squeeze to the level 148 zone (-50%). Squeeze to 149.76, that is, 113.13, the first value is important. Pay attention to the embossed volume on this squeeze.
Comment:
Comment:
The entire secondary downtrend. Falling 440 days from $1,600 to $96 (-93%). Some see this as fear and frustration, while others see fantastic opportunities.
A breakout of the local downtrend (purple) after the realization of the downside flag targets. Potential for resistance to the big wedge (red).
Then with a high probability of a pullback to the support zone (lows)—formation of a sideways (horizontal channel set with the same % step) or even lower—residual formation of the wedge (sadness in the market).
A breakout of the local downtrend (purple) after the realization of the downside flag targets. Potential for resistance to the big wedge (red).
Then with a high probability of a pullback to the support zone (lows)—formation of a sideways (horizontal channel set with the same % step) or even lower—residual formation of the wedge (sadness in the market).
Comment:
+72% from level 96 to level 172 zone. Rollback in the zone of the wedge canvas.
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✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
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✅ YouTube (Rus): goo.su/vpRzRa2
