BTC forecast - Are buyers secretly increasing their position?
Updated
After the recent powerful momentum of the fall, the cryptocurrency market has moved into a phase of consolidation. This is a terrible time for newcomers. This is the time when those who didn't make it during the fall lose money.
What is the problem? The lack of a dominant side and poor technical analysis. When there is no clearly defined trend and trading volumes are very small, the market becomes as manipulative as possible. And it means that patterns can be drawn on the chart, which will not actually work out.
The main task of the big player at this stage is to lure the market participants into wrong positions. Precisely the wrong positions will allow to organize a strong wave of price movement.
In such cases, we try to trade the market according to our vision. In this trading situation, we are waiting for a false breakdown of the trend line, after which the trading volume should increase. If our forecast is correct - the price should rather quickly jump out of the $29.100 range.
If it does not, it is better to close the position and wait for a deeper drop in the $28,000 range.
A clear trade to trade today, May 18, can be seen on the chart.
What is the problem? The lack of a dominant side and poor technical analysis. When there is no clearly defined trend and trading volumes are very small, the market becomes as manipulative as possible. And it means that patterns can be drawn on the chart, which will not actually work out.
The main task of the big player at this stage is to lure the market participants into wrong positions. Precisely the wrong positions will allow to organize a strong wave of price movement.
In such cases, we try to trade the market according to our vision. In this trading situation, we are waiting for a false breakdown of the trend line, after which the trading volume should increase. If our forecast is correct - the price should rather quickly jump out of the $29.100 range.
If it does not, it is better to close the position and wait for a deeper drop in the $28,000 range.
A clear trade to trade today, May 18, can be seen on the chart.
Note
If buyers can not take control of the trend line - it is better to close the position
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okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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