WEEKLY CRYPTOCURRENCIES MARKET REVIEW
#Thoughts
There are some rules in trading that many people need to remember.
One of them: you should always wait for the market to stop before analyzing the next entry.
I'll go over BTC and ETH a bit, and I'll also write thoughts on the market and the FUD news that started to worry you...
◾️Let's start with the technical part of #BTC:
The chart on the left, let's take a look at the daily close (inverted hammer) - reversal candle. Going directly to the #ETH chart, you can see how we are testing the mirror level. Previously, the level served as support for a whole year, after the breakdown it should be resistance (at least for some time). What does it mean? Since we have approached the mirror level on ETH, it is best to wait for a correction and then collect longs with continued upward movement + the market is not effective on weekends.
I have taken a break for now and am waiting for a correction, even if the price rises higher, I will find the perfect entry point.
◾️If you analyze the market from the inside (looking at the on-chain database).
Intraday, whale flow turns negative (too early to tell as it's not clear yet where Baron CZ has decided to take the market. I think it still needs a day to get a clear idea). A huge cluster of bulls for $ 22,000, which also want to be demolished. But it can take the market higher by driving more fomo and pull it down even more by hitting a new low.
◾️Also, today's topic is China's war with Taiwan... I was sent a video today of how China is moving armored vehicles. The market can only react on Monday (if there is liquidity for the razor).
To sum up what I will do: If we go higher from the current ones (without correction) - I do not long and wait for the maximum strong dump. If we are correcting from the current ones, I gain a position with the entire deposit...
There are some rules in trading that many people need to remember.
One of them: you should always wait for the market to stop before analyzing the next entry.
I'll go over BTC and ETH a bit, and I'll also write thoughts on the market and the FUD news that started to worry you...
◾️Let's start with the technical part of #BTC:
The chart on the left, let's take a look at the daily close (inverted hammer) - reversal candle. Going directly to the #ETH chart, you can see how we are testing the mirror level. Previously, the level served as support for a whole year, after the breakdown it should be resistance (at least for some time). What does it mean? Since we have approached the mirror level on ETH, it is best to wait for a correction and then collect longs with continued upward movement + the market is not effective on weekends.
I have taken a break for now and am waiting for a correction, even if the price rises higher, I will find the perfect entry point.
◾️If you analyze the market from the inside (looking at the on-chain database).
Intraday, whale flow turns negative (too early to tell as it's not clear yet where Baron CZ has decided to take the market. I think it still needs a day to get a clear idea). A huge cluster of bulls for $ 22,000, which also want to be demolished. But it can take the market higher by driving more fomo and pull it down even more by hitting a new low.
◾️Also, today's topic is China's war with Taiwan... I was sent a video today of how China is moving armored vehicles. The market can only react on Monday (if there is liquidity for the razor).
To sum up what I will do: If we go higher from the current ones (without correction) - I do not long and wait for the maximum strong dump. If we are correcting from the current ones, I gain a position with the entire deposit...