For those who want to long bitcon safely, remember it is now bear market. Don't catch falling knife even though it looks tempting. You need at least wait till trend line is broken and then patiently wait classical signals like double bottom or head and shoulder.
ThisIsOverSoon
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After a massive wick up or down, one has to look at shorter timeframes to measure the evolution. Also your TA lacks additional indicators (at least RSI…).
shuqi0923
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@ThisIsOverSoon, I know RSI but I have decided not to use it any more. Market has inertia and can go much longer than you think.
ThisIsOverSoon
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@shuqi0923, Thank you for the feedback. I think we will be stuck in the 35-43 range for a long time
Cryptomania2363
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This post won’t age well. We going to 100k
shuqi0923
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@Cryptomania2363, this is just basic technical analysis. And it is about probability. Nothing is certain no matter how pretty the pattern looks. Always use stop loss or it is just matter of time to lose all money.
ArmanShamili
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exactly
shuqi0923
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May19 bar is so bearish. Most likely it is a real breakout, which means usually two legs after breakout...