"Never catch a falling knife" is what I was always been told since the day I first come to trade. In some scenarios, experts are capable to do so with advanced technical analysis and experience. But they are experts, not me. I am still on the journey to explore trading as well as myself.
As the picture above, bitcoin is in an extreme fear stage in which many people are skeptical about the future of bitcoin. Candles show extreme bearish while indicators all mark as Oversell. However, as far as I concern, cause everything is in the extreme stage, the reversal is likely to happen at any time from now with the strength at least half of the current bearish. "Buy on dips - Sell on rallies", unless you are a scalper, there is no point in making any sell position with an expectation to have RR higher than 1:3. Personally, as a scalper, I will choose to observe for further information like reversal or an tiny uptrend on a smaller timeframe
Remember to manage your risk properly. Do not blindly enter any trade without being mindful of your current emotional status. Do not let the market drive you crazy. Be the warrior of yourself
Good luck
As the picture above, bitcoin is in an extreme fear stage in which many people are skeptical about the future of bitcoin. Candles show extreme bearish while indicators all mark as Oversell. However, as far as I concern, cause everything is in the extreme stage, the reversal is likely to happen at any time from now with the strength at least half of the current bearish. "Buy on dips - Sell on rallies", unless you are a scalper, there is no point in making any sell position with an expectation to have RR higher than 1:3. Personally, as a scalper, I will choose to observe for further information like reversal or an tiny uptrend on a smaller timeframe
Remember to manage your risk properly. Do not blindly enter any trade without being mindful of your current emotional status. Do not let the market drive you crazy. Be the warrior of yourself
Good luck
Comment:
Well, everything seems to against us all