The market always seeks balance. A strong bullish wave is balanced out by a retrace or correction. Here this type of scenario is already developing.
WallectConnect (WCTUSDT) grew strongly since April 15, as did much of the market but found a peak recently.
Total growth amounts to 597% from the market bottom. From the first support, some ~400% which is awesome. After the retrace/correction, you can expect additional growth.
The volume today as the all-time high was hit became the highest since April 16. Bearish volume that is. The highest bearish volume bar came right after the all-time high. This is a warning signal.
Do not rush to buy, wait for the establishment of support. Once support is found, you can go LONG. When the chart is bearish, now, the doors open to SHORT.
Remember to do your own research, numbers and planning.
Market conditions can always change.
When prices are high, do use a stop-loss if you decide to buy and hold.
(Only when buying (trading) at bottom prices the stop-loss is not recommended for spot.)
Namaste.
WallectConnect (WCTUSDT) grew strongly since April 15, as did much of the market but found a peak recently.
Total growth amounts to 597% from the market bottom. From the first support, some ~400% which is awesome. After the retrace/correction, you can expect additional growth.
The volume today as the all-time high was hit became the highest since April 16. Bearish volume that is. The highest bearish volume bar came right after the all-time high. This is a warning signal.
Do not rush to buy, wait for the establishment of support. Once support is found, you can go LONG. When the chart is bearish, now, the doors open to SHORT.
Remember to do your own research, numbers and planning.
Market conditions can always change.
When prices are high, do use a stop-loss if you decide to buy and hold.
(Only when buying (trading) at bottom prices the stop-loss is not recommended for spot.)
Namaste.
Trade active
Already hit support, much faster than expected.
Sell at resistance. Buy at support.
Never sell when prices are high on a rush. It is better to wait for the retrace/correction and then buy.
Patience is key.
Namaste.
Note
It can go lower and there can be a whole process of consolidation before the next rise. Can take weeks or months.
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➢ FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
Related publications
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.