BSV. Becareful of breakouts. Watch out!
Hello friends,
I hope you're all well. I've been thinking of making SWOT and technical analysis videos for crypto and stocks. I really enjoy the fundamental analysis part, it's the wetstone used for sharpinng a dull knife(Decision), the technical part is the polishing of the knife(precision).
Okay so, Bsv is pushing up slowly, and Btc is fluctuating around $10,000.
Today I wanted to mention something that is against popular belief. In my chart it says, 'Don't buy breakouts(b/o) or resistance', it's means never buy when it's up. There is absolutely no benefit at buying at breakouts or before the resistance, because my question is, if I thought Bsv was going to go UP, why didn't I buy it at a lower price? If I bought it during Aprils lows, that low entry trade would reduced my risk of it going lower, because Bsv was already oversold. When I was a new trader, I was always taught by 'Gurus' to buy at B/O, everytime I did, it reversed against me, it would go back down. Breakouts are so risky and it reduces your profit margin. Lets assume we bough at #1 instead, having a long position there, that entry level would reduce our risk because it's near the bottom, and it would increase our profit margin because it's so far from resistance @ #2. This is the knowledge behind the golden rule 'buy low, sell high'. I feel so childish to had kept buying at upward B/Os. If I think Bsv is going up(Fundamental research kicks in), I'll buy Bsv in the dip. I never get in at the top no matter what, cause that reversal is a bigggg risk, and profit margin has been reduced.
Other than that, there isn't much going on besides increased Bsv utility usage, and Btc halving is in a couple of days. I think Bsv may do a fake B/O to the top then drop. My emotions are under control, I only buy dips and sell rallies, and I always average dollar cost or sell, so I get the lowest or highest average rate )). This my style and I haven't had a losing trade for a while.
If you want more information, you can always ask me, I'm okay with it.
I hope some of you found this information valuable, I would assume many of you probably already knew it.
Please like, share and follow. It means a lot to me. I'll keep you posted if the stocks or crypto make any drastic moves.
Have a good one. ))
I hope you're all well. I've been thinking of making SWOT and technical analysis videos for crypto and stocks. I really enjoy the fundamental analysis part, it's the wetstone used for sharpinng a dull knife(Decision), the technical part is the polishing of the knife(precision).
Okay so, Bsv is pushing up slowly, and Btc is fluctuating around $10,000.
Today I wanted to mention something that is against popular belief. In my chart it says, 'Don't buy breakouts(b/o) or resistance', it's means never buy when it's up. There is absolutely no benefit at buying at breakouts or before the resistance, because my question is, if I thought Bsv was going to go UP, why didn't I buy it at a lower price? If I bought it during Aprils lows, that low entry trade would reduced my risk of it going lower, because Bsv was already oversold. When I was a new trader, I was always taught by 'Gurus' to buy at B/O, everytime I did, it reversed against me, it would go back down. Breakouts are so risky and it reduces your profit margin. Lets assume we bough at #1 instead, having a long position there, that entry level would reduce our risk because it's near the bottom, and it would increase our profit margin because it's so far from resistance @ #2. This is the knowledge behind the golden rule 'buy low, sell high'. I feel so childish to had kept buying at upward B/Os. If I think Bsv is going up(Fundamental research kicks in), I'll buy Bsv in the dip. I never get in at the top no matter what, cause that reversal is a bigggg risk, and profit margin has been reduced.
Other than that, there isn't much going on besides increased Bsv utility usage, and Btc halving is in a couple of days. I think Bsv may do a fake B/O to the top then drop. My emotions are under control, I only buy dips and sell rallies, and I always average dollar cost or sell, so I get the lowest or highest average rate )). This my style and I haven't had a losing trade for a while.
If you want more information, you can always ask me, I'm okay with it.
I hope some of you found this information valuable, I would assume many of you probably already knew it.
Please like, share and follow. It means a lot to me. I'll keep you posted if the stocks or crypto make any drastic moves.
Have a good one. ))
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