Bitcoin: Weird Movements in the Unpredictable Market
In the crypto markets, you have to manage at least two types of situations. The 1st one is - you can miss the quick reversal and a further strong price movement. The 2nd one is - when you try to catch a reversal as soon as possible, you can face with manipulated movements and traps.
There are ways how to solve these problems, but there is no perfect way how to join the market at the right time and avoid false signals.
The market broke the uptrend line and gave us a bearish signal. Indicators and the bearish candle confirmed the downward movement. The next bullish candle told us about the strength of buyers and a possible upward movement. The next strong bearish candle broke the previous plan, and now we have a bearish market again, which has the target at 9000.00 support.
The market gave us good examples of how quickly the situation can be changed in crypto, and we have to take into consideration this fact. Based on it, we have to build our trading plan for every coin.
If we look at the chart right now, we must be more bearish than bullish. MACD and RSI confirm the downward movement. The correction of the previous uptrend can be deep with the target at 8000.00 support.
How will it be in reality? We will see. For me, the downward movement to SMA200, SMA100, and the round numbers like 9000.00 and 8000.00, it seems possible. What about you?
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
There are ways how to solve these problems, but there is no perfect way how to join the market at the right time and avoid false signals.
The market broke the uptrend line and gave us a bearish signal. Indicators and the bearish candle confirmed the downward movement. The next bullish candle told us about the strength of buyers and a possible upward movement. The next strong bearish candle broke the previous plan, and now we have a bearish market again, which has the target at 9000.00 support.
The market gave us good examples of how quickly the situation can be changed in crypto, and we have to take into consideration this fact. Based on it, we have to build our trading plan for every coin.
If we look at the chart right now, we must be more bearish than bullish. MACD and RSI confirm the downward movement. The correction of the previous uptrend can be deep with the target at 8000.00 support.
How will it be in reality? We will see. For me, the downward movement to SMA200, SMA100, and the round numbers like 9000.00 and 8000.00, it seems possible. What about you?
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.