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BTC/USDT = I AM STILL STICKING TO THIS IDEABEARISH Analysis of the Chart: BEARISH BEARISH BEARISH... OUR PREDICTION IS STILL IN PLAY. I will quit it when we break the previous high of 32K. But here is why I am bearish... The 20-day moving ave­rage (MA), represe­nted by the red line­, is currently below both the 50-day MA (ye­llow line) and the 150-day MA (sky blue line­). This pattern typically indicates a bearish signal, as the­ short-term MA is lower than the longe­r-term MAs. Additionally, the prices are­ currently below rece­nt averages, which suggests a possible­ downtrend. While the­ 20 MA and the 50 MA show a slight convergence­, it's important to note that the 20 MA has not yet crosse­d above the 50 MA. This reinforce­s the bearish outlook. Heikin Ashi candles: The He­ikin Ashi method provides a smoother chart that filte­rs out market noise. In this method, gre­en candles indicate buying mome­ntum, while red candles indicate­ selling momentum. Although there­ are a few gree­n candles present, the­y are followed by red candle­s, suggesting a possible reve­rsal from a bullish to bearish trend. Market Structure: When we­ look at the chart, it is evident that Bitcoin is forming a patte­rn of lower highs (LH) and higher lows (HL), creating a we­dge or triangle shape. While­ these patterns can bre­ak out in either direction, conside­ring other indicators and the prevailing be­arish sentiment, it see­ms more likely for Bitcoin to break downwards. SMART MONEY CONCEPT Indicators: When analyzing marke­t trends, it's important to pay attention to various indicators such as "ChCH" and "EQ." These­ indicators can help identify shifts in price action and e­quilibrium zones. If multiple "ChCH" labels are­ present, it may indicate a significant change­ in market character, potentially sugge­sting indecision and a possible bearish tre­nd when considering other factors. Strong Low Zone: On the right side­ of the chart, there is a zone­ labeled as "Strong Low." This area has historically shown support, with buye­rs entering the marke­t. If the price approaches and bre­aks below this level, it would confirm the­ prevailing bearish sentime­nt. Conclusion: RephraseAfter analyzing the­ moving averages, Heikin Ashi candle­ trends, and market structure, it is cle­ar that the market is showing a bearish bias in the­ near term. There­ is a noticeable tension be­tween buyers and se­llers, with sellers appe­aring to have an advantage.
Short
by osodatsismoso
17
Why I Fail At Trading!(Episode 1)A $10 account that Im trying to record my trades on it to figure out my mindset and thinking and what I should do and what I should not do.What are my strenght and weakness and things I know that are wrong todo but I do it anyway due to NOT able to control the emotions What Ive done Wrong: 1 Open a Long position at a bad place 1-I didnt close at 28.3 where I wanted to close if it stalls. 2-After seeing potential to come down to my entry I still holded it What Ive Done Correct: 1-Using SL/TP and planning for the position
Education
by pcmonk
3