We are in a correction! A correction runs somehow sideways. It goes up and down - up and down. Corrections are a great way for you to lose money because of triggering bull/bear traps all the time.
It's time to grow up. Don't expect to be someone who can predict the market with "May 6th" etc. The charts don't work like that. If the mass expects something like that, then it's a trap -> usually resultung in a correction/sideways movement. We are on the edge of breaking the trend line. This will be the moment you will lose money as you'll think trend change -> bull market. But we will consolidate.
You will think we are going down. And sell with losses! And THEN we are going up. If you'd have bought when I told you, this wouldn't be a problem! But no. You think you are smart to keep believing in what the mass expects. The charts are flexible. But they move according to patterns which they ADAPT after the mass takes action. I am bullish as I hold after already taking a good position!
Be aware that there will be more movements than shown. But all in all, keep losing money...
It's time to grow up. Don't expect to be someone who can predict the market with "May 6th" etc. The charts don't work like that. If the mass expects something like that, then it's a trap -> usually resultung in a correction/sideways movement. We are on the edge of breaking the trend line. This will be the moment you will lose money as you'll think trend change -> bull market. But we will consolidate.
You will think we are going down. And sell with losses! And THEN we are going up. If you'd have bought when I told you, this wouldn't be a problem! But no. You think you are smart to keep believing in what the mass expects. The charts are flexible. But they move according to patterns which they ADAPT after the mass takes action. I am bullish as I hold after already taking a good position!
Be aware that there will be more movements than shown. But all in all, keep losing money...
Note
Weekly chart closed. Here, we can see that we have some room for consolidation. For now, this idea is actual as it doesn't seem to have gone wrong for now. But I sold as I'm expecting some drops this new weeks where I can get a better position. Everything is on hold right now. And depending on the next moves, there might be fast changes! Keep that in mind. The low volume might increase really fast. So, keep in touch!
Note
this new week*Note
The 4h chart seems to be in oversold area after making 5 bullish waves. If you ask me there will be some drop towards $7500 while I can't say how much. Like I said: On hold!Note
Great job to those who sold for a better buying position. It seems that my buy order was triggered so I'm in again. We now have a strong resistance: MA50. It might bounce up here or struggle or jump.
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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.