Back-testing the breakoutThis is just textbook bull run stuff folks. We are extremely early. We broke out with good momentum then immediately back-tested without dumping. These are what traders are looking for . They are confirmation moves. in the wall street cheat sheet I imagine We are in the "suckers rally" phase. Disbelief will come later. Now all you need to know is MAJOR three year resistance has become support.
I saw someone call Excavo A God for the short he didn't actually put on . He is selling signals and posted a chart . IF He were actually a trading God He would have posted two charts. Shorting from 12,000 then immediately going long once the target was hit. But there was no target because there was no trade.
Last night was the most bullish move I've seen on BTC in a while. Hit historical resistance after a mini parabola then flash crashed to 10,300 and before i could get off the toilet We were back above 11,000. Not even the mass liquidations could keep this asset down.
I'll be clear. This is not a trade setup. I would not take a long in this area. You had plenty chances for that going back to 3800 in march. Fomo will get you wrecked. I would look at ETH for longs . But i don't use leverage on crypto its not needed. You don't need leverage when you regularly move 10% in a day.
Leverage is debt . IF you have never been in debt especially business debt not your own fault then you have no idea how RETARDED it is to use debt to make money. How stupid it is to add debt onto free and clear extra hard earned money you were investing . Anyone that tells you different is a child trying to put big boy pants on and has no idea what leverage is actually for.
Binance made 9 billion$ year before last. Some of it from fees. Most of it was liquidating scrubs accounts.
Your using leverage to get rich quick. Based on the liquidation trackers your all going broke. losing everything on a trade. How is that risk management? Either your right or you lose everything. Oil companies have entire building full of people trying to use leverage correctly. Are you a company hedging commodities you pull out the ground? Are you a farmer locking in the price of corn so what your growing in the field doesn't become worthless ? Then you have ZERO business using leverage
