Get started

Rocketbomb

ETH ❗️ Down Hello, Ethereum continues its decline as well! 📉 You can find short-term perspective levels on the chart!❗️ Also, take a look at the daily chart. Honestly, it's not very optimistic. I don't want to scare anyone, but if we fall below $3,000, we can expect a more significant correction!🤷🏽‍♀️ What do You say? 🧐How deep Ethereum can fall? Share Your thoughts with me in the comments. Always sincerely yours, Kateryna💙💛 My analysis from yesterday went unnoticed, so don't hesitate, hit the 🚀 let more people see it!
BITSTAMP:ETHUSDShort
by RocketBomb
2
BITCOIN: double TOP?🧐Hello, friends!😊 Today we talked about double tops and double bottoms. Let's try to apply a double top pattern on the Bitcoin chart!👍 🔺🔺Double tops tend to form when the price reaches a high within a current uptrend and then pulls back. It rallies again to the previous high area before stalling and pulling back, falling below the low of the previous pullback. The reason it's called a double top is because the price peaked at the same area twice and was unable to reach new highs, above previous resistance. Once this popular reversal pattern is confirmed or complete, traders can place a short trade or exit their long positions, of course, once the price drops below the previous swing low. 🔸Target Areas: When determining a potential profit target area, we use the height of the pattern, minus the breakout price point. ⚡️ The most important thing to understand in the current situation is that we definitely need confirmation of the breakout point. Only after this can we place a short position. If you haven't seen my educational post today, I'll attach the link below!👇 If You like what I do for You, support me with a 🚀 , subscribe to the channel, and stay with me!🫶 Thanks for Your attention🙏 Always sincerely with You💙💛 Your Kateryna💋
BINANCE:BTCUSD
by RocketBomb
Double Top & Double Bottom (EDU)💡Hello, today I would like to introduce you (although I'm sure many of you are familiar) with such technical analysis patterns as double bottom and double top! They are often encountered in the cryptocurrency market: both in Bitcoin and in various altcoins. Trading double tops and double bottoms is a commonly employed strategy in technical analysis by traders aiming to identify potential points of trend reversal in financial markets. Here's a guide on how to execute trades based on these patterns: 🧐Recognize the Double Top and Double Bottom Patterns: 🔺Double Top: This formation occurs following an uptrend and features two peaks around the same price level, separated by a trough. It suggests a potential weakening of the uptrend. 🔻Double Bottom: This pattern develops after a downtrend and includes two troughs around the same price level, separated by a peak. It indicates a possible weakening of the downtrend. 🔹Confirm the Pattern: Seek confirmation of the pattern through other technical indicators like volume, trendlines, and oscillators (e.g., RSI, MACD). Additional signals can enhance the reliability of the pattern. 🔸Entry and Exit Strategies: Entry: For a double top pattern, consider entering a short (sell) position when the price breaks below the trough between the two peaks. For a double bottom pattern, consider entering a long (buy) position when the price breaks above the peak between the two troughs. 🔴Stop-Loss: Always set a stop-loss order to mitigate potential losses. Place it above the double top (for short positions) or below the double bottom (for long positions) to safeguard your trade. 🟢Take Profit: Determine your profit target considering factors such as the depth of the pattern and overall market conditions. Support and resistance levels or Fibonacci retracement levels can serve as potential profit targets. ▪️Risk Management: Employ proper risk management techniques, such as position sizing, to safeguard your capital. Avoid risking more than a small percentage of your trading capital on a single trade. ⚫️Timeframe Considerations: Double top and double bottom patterns can manifest across various timeframes. Shorter timeframes (e.g., 1-hour, 4-hour) may present more opportunities but are also prone to false signals. Longer timeframes (e.g., daily, weekly) may offer more reliable signals but fewer trading opportunities. ❌Watch for False Breakouts: Be vigilant for false breakouts where the price briefly breaches the pattern's neckline (the level between the two peaks or troughs) before reversing. False breakouts can occur, so closely monitor price action. 🧐Practice and Analysis: Backtest the double top and double bottom patterns on historical data to build confidence in your trading strategy. Continuously analyze your trades and adjust your strategy as necessary. 🤓Combine with Other Indicators: Consider integrating other technical indicators like moving averages, Bollinger Bands, or Fibonacci retracements with double tops and double bottoms to enhance your trading approach. Remember, no trading strategy guarantees success, and there are inherent risks in trading financial markets. It's crucial to have a well-defined trading plan, manage risk effectively, and maintain discipline to achieve success. Additionally, seek advice from experienced traders or financial professionals before implementing any trading strategy. Do You often encounter double bottom or double top patterns on charts? Write in the comments!🫶 I'll be glad to see Your feedback! If You have any questions, feel free to write them in the comments. Thanks for Your attention, subscribe to stay connected!💙💛 Sincerely yours, Kateryna💋
BITSTAMP:BTCUSDEducation
by RocketBomb
3
Ada has good potential in 2024🔥Hello, dear friends!☺️ 🧐Today, I present to You my chart showcasing the promising potential of the ADA coin (from Cardano). As you all know, Cardano has its own cryptocurrency called ADA, which serves as the primary asset of the platform. They utilize the Proof of Stake (PoS) algorithm to ensure network security and support its decentralization.💻 ⚡️It's essential to highlight that the Cardano project adheres to scientific methods in the development and implementation of its technologies, contributing to increased security and stability of the network. Regarding the price movement of the ADA coin, let's take a look at the chart.👀 In December 2023, the price broke through the resistance line of a parallel channel that had been forming for almost a year (marked in red). The formation of this channel began after a prolonged sharp decline in price following the last bull run. I've labeled this parallel channel as the bottom on the chart!👇 💡It's safe to assume that in the coming months (medium-term perspective), we can expect the price of this coin to rise. By placing several buy orders (orange zone) to catch it at the optimal price, setting the marked levels for selling (take profits) at 0.9, 1.0, and 1.2, and keeping in mind the stop-loss level 🛑 - under 0.38, it could be a very profitable deal!🔥 🚀I believe the potential for this coin is quite good, but significant growth will require more time. So, let's add it to our checklist and keep an eye on it 😉 🧐What do You say, folks? How do You feel about ADA and the Cardano project itself? Do You have any experience trading this coin? Thanks for Your attention, stay tuned! Subscribe not to miss out. 🫶 Always sincerely yours, Kateryna💋
Long
by RocketBomb
5
Is there potential for Litecoin?🧐Hello, dear friends!🫶 The potential of Litecoin, like other cryptocurrencies, depends on various factors including market conditions, technological developments, global adoption, investor interest, and several other factors. Litecoin, like other cryptocurrencies, may experience significant price fluctuations and volatility in the market. Some investors and analysts see growth potential in Litecoin due to its fast transaction speed and low fees, making it an attractive means for quick and inexpensive fund transfers. However, like any investment asset, there are risks, and the success of Litecoin will depend on a wide range of factors, including market competition, technical innovations, and external economic factors.🤷🏼 After the last halving, the price surged from $40 to over $300. Note that Litecoin's price against Bitcoin has not risen since 2019, but its potential is no worse than many others that are experiencing significant pumps!🚀 I believe that by the end of this year or early next year, Litecoin will continue to grow. And if the price of Litecoin against Bitcoin also increases, the growth potential could be significant.⚡️ We will continue to monitor Litecoin's price movement, especially the wedge that has formed against Bitcoin! It's very interesting! How do you feel about Litecoin? Do you prefer "quiet" coins or do you like to chase hype? I'd like to hear from You in the comments! Thanks for Your attention, subscribe to stay connected!💙💛 Sincerely yours, Kateryna💋
Long
by RocketBomb
1
Zilliqa 🚀 by RBHello! 😘Today let's take a look at the Zilliqa coin! There's still a chance to buy it "on the down low"! The chart looks quite promising! The price has broken a multi-year downtrend and is confidently moving upwards! Currently, Zilliqa is experiencing a pullback, so it's a good time to buy a little! What is ZIL coin? Zilliqa is a cryptocurrency aimed at using sharding to solve scalability issues faced by many blockchains. Sharding is the process of dividing the mining network into smaller parts or shards that process transactions in parallel. Remember, it's crucial not to buy coins that are already overbought! There's a significant risk of losing money! Be cautious and remember the age-old wisdom of the market: buy on rumors, sell on news! Stay safe!🫶 Thanks for Your attention. Always sincerely yours, Kateryna💙💛
Long
by RocketBomb
♻️ The cyclic nature of Bitcoin's price ♻️Hello, dear friends! Much has been said about Bitcoin cycles, and you've seen many charts, including mine! But today, I'll summarize everything that has been said before: briefly and clearly!So... What Defines the Bitcoin Market Cycle? The Bitcoin market cycle signifies the repetitive trend of price movements within the Bitcoin market, marked by alternating phases of appreciation and depreciation. These fluctuations stem from the perceptions and actions of market participants, involving buying and selling, and are influenced by various factors including market sentiment, regulatory shifts, technological advancements, and broader economic conditions. Historically, Bitcoin has adhered to a four-year cycle closely tied to Bitcoin halving events, occurring roughly every four years. A halving event entails a 50% reduction in the Bitcoin reward miners receive for validating transactions; consequently, the rate of Bitcoin supply growth slows down. This often triggers a significant price surge, assuming the demand for Bitcoin either remains constant or increases post-halving. The upcoming halving is slated for April 2024, where the block reward will decrease to 3.125 bitcoins. The chart below illustrates the cyclic nature of Bitcoin's price and its historical patterns. What Constitutes the Phases of the Bitcoin Market Cycle? Phase 1 – Accumulation This phase emerges when prices are low, yet there are early indications of growth. It's a period where buyers accumulate Bitcoin at lower prices, representing a pinnacle of financial opportunity. Typically, bearish sentiment prevails in the market, resulting in low trading volumes and prices fluctuating within a narrow range, often near the bottom. Phase 2 – Continuation (growth) During this phase, the price continues its ascent towards the all-time high. Historically, a halving event occurs here, coinciding with diminishing exchange reserves as buyers stockpile supply in anticipation of surging prices and new record highs. Phase 3 – Parabolic (bubble) As the price surpasses the previous all-time high, it begins to rise exponentially, leading to a new all-time high that significantly exceeds the previous peak. This phase is marked by extreme volatility, with rapid price spikes followed by substantial corrections. Sell volume increases as some investors lock in profits, while others continue buying, believing the bull market has further potential. Consequently, price volatility diminishes as buying and selling volumes begin to balance, amid a backdrop of overconfidence. Many investors may perceive the Fear & Greed Index as signaling Extreme Greed during this phase. Phase 4 – Correction (crash) Following the euphoria of the Parabolic phase, the market undergoes a major downward correction. Previous bear market periods have witnessed approximately 80% drawdowns from the peak, with negative price movements lasting for roughly a year. For instance, the most recent downturn saw Bitcoin's price plummet from an all-time high of $69,000 (November 2021) to $15,476 (November 2022). What maximum price of Bitcoin do you expect this or next year? I hope you found it interesting. If yes, boost this post 🚀 so others can see it too, and subscribe to stay connected. Always sincerely yours, Kateryna💙💛
BITSTAMP:BTCUSDLong
by RocketBomb
4
BTC 2h chart by RB 💥 27/03Hello dear traders and investors! ✨ I hope your trading day is going well and bringing you only positive outcomes! Today, I want to share some interesting observations on 2h chart of BTC! The price is at the top of the ascending channel near the resistance line! It's possible that the price will drop to the lower part of the channel at levels 67-68! It's better to set entry points for long or short positions on breakouts! Currently, the chart looks ambiguous! It's better to wait for a clearer signal! Remember, there are always opportunities in the market for those who are ready to analyze and make informed decisions. However, it's also important to remember proper risk management and maintain discipline in trading. I'm always happy to share my thoughts and strategies with you, dear colleagues! If you have any questions or want to share your opinion, feel free to comment below.🫶 Don't forget to smash that 🚀 button and hit subscribe to stay updated! Remember to save this post so you don't miss out on any valuable insights. Let's grow together and navigate the markets successfully! Wishing you a successful trading day and good luck in your trades! Until next time, guys! Best regards, Always sincerely yours, Kateryna
BITSTAMP:BTCUSD
by RocketBomb
3
Bitcoin on 1d chart by RB💥Hello, dear friends! 💙💛Today, let's examine the daily Bitcoin chart together! We'll look at the behavior of the MACD indicator and forecast the next price action. 💥First of all, let's take a look at the inverted wedge that I drew earlier, the price is currently moving within this pattern. Many traders' opinions are divided: some believe that after a shallow correction, the price will continue to move upwards.🤷🏼 I still believe, as before, that the price may continue the correction and in the coming weeks may reach the levels of 55,000 - 52,000 (you can also review the previous chart). I have also added the MACD indicator, which already has a crossover of two lines, indicating a change in trend!⚡️ 🧐So it will be interesting in the coming weeks! In my opinion, a deeper correction opens up more opportunities! What do you think? What can we expect in the near future? Always sincerely yours, Kateryna🫶
BINANCE:BTCUSD
by RocketBomb
18
Bitcoin on 1h chart by RB🔥Hello, dear friends! 🫶I'm so pleased to welcome You on my page! Bitcoin is currently undergoing a correction, so let's consider the options for how things will develop further!🧐 On the chart, You can see an upward channel - white color 🤍, the price exited it touching the level of $65,500 and then returned to the channel. This could mean two scenarios: 1️⃣ first - a fake breakout, 2️⃣ second - a signal for a deeper correction. I believe that if the price exits the channel again, we can expect a decline to the levels of 65,500 - 64,000, and if these levels are sharply broken, then the drop will be to 59,400. If You want to know my thoughts on this matter, then correction is natural and an excellent way for the price to take a breather, while we put levels for buying! 💡TIP: Keep an eye on the further price behavior in the channel, and make a decision to enter a trade only on a breakout of the channel! Thanks for Your attention🫶 Always sincerely yours, Kateryna💙💛
BITSTAMP:BTCUSD
by RocketBomb
4
LOKA/USD by RB Greetings, dear crypto enthusiasts!🫶 I wanna draw your attention to the LOKA coin against the dollar! In my opinion, it looks very promising in the medium term!💥 Several wedges have been broken upwards, thus forming a huge wedge, which will soon finish its formation and will break out! If you prefer to take risks, you can place several buy orders in the orange zone! If you want a safer deal, then wait for the breakout upwards and place buy orders there! 🧐What is your opinion on coins like LOKA? I'm so interested in your opinion! Thanks for your attention💋 Sincerely yours, Kateryna💙💛
Long
by RocketBomb
Bitcoin by RB, 1h chart 11/03 💥Hello, how are you? I hope everything is well with you and you're ready to discuss the new Bitcoin price chart with me!🫶 The price has sharply broken new highs and is confidently moving forward.🚀 If we draw several trend lines on the current pricing, we can see that since February, the price has been moving within a rising wedge! Do you see it too?😳 Technical analysis patterns don't always work out perfectly in the cryptocurrency world🤪, but assuming this is the pattern, a rise to $76,000 is possible, and then we'll need to watch closely, as a sharp price drop could occur (even a deep correction), it's important to monitor further pricing movements! ⚡️Tip: If you want to enter a trade, it's worth dividing your buying amount into several parts (for example, three) and placing them at different levels (for example, $70,000 - $71,000 - $72,000), so you can buy Bitcoin at a favorable price without chasing highs! Sale (profit taking) levels can be set using the same principle! 🛑Stop loss below $65,000 (or better yet, watch the pattern; if the price falls out of the wedge, the stop loss can be placed higher!) I hope You found it interesting and informative!🫶 Looking forward to Your feedback Subscribe to stay connected💋 Sincerely yours, Kateryna💙💛
BITSTAMP:BTCUSDLong
by RocketBomb
11
WING/USD by RB💥 Hello, dear friends! Today, I'm introducing a very interesting token called WING! If you're a fan of memecoins or hyped-up tokens, you're unlikely to find coins on my page that are at their peak! I'm always looking for "quiet buys"! When a coin is being hyped up everywhere, and the whole Twitter is buzzing with "buy now!" - that's actually the best time to take profits. And if You don't have such coins, just say "thank goodness!" What is Wing Finance cryptocurrency? Wing Finance is a decentralized finance (DeFi) platform created by the team behind Ontology, supporting cross-chain interactions between different protocols. The Wing team has developed an innovative credit evaluation method aimed at supporting lending and enhancing transparency. Regarding buying levels and profit-taking, You can find everything You need on the chart!👇 Remember, "Buy on rumors, sell on news." Thanks for Your attention💙💛 Always sincerely yours, Kateryna
Long
by RocketBomb
5
New ATH soon?Hello, friends! It seems Bitcoin has picked up the pace significantly! Are we expecting new highs soon?🧐 In my opinion, the price has formed a Bullish Pennant! And there has already been a breakout. 🚀 Do you agree? 💡How to Trade a Bullish Pennant Pattern There are four steps to trading this pattern successfully: 1️⃣ Step One : Identify the Pattern Formation The first step is to identify the pattern formation. This includes identifying an existing uptrend and the formation of a pennant after that uptrend has begun. 2️⃣ Step Two : Wait for the Breakout Once you have identified the pattern, it is important to wait for the breakout from consolidation before entering a trade. This breakout typically occurs to the upside, signaling a continuation of the uptrend. 3️⃣ Step Three: Enter a Trade Once you have identified the breakout, you can enter a trade by buying the stock on your stock brokerage platform. 4️⃣ Step Four : Exit the Trade The final step is to exit the trade. This can be done by either taking profits at a predetermined level or by using a stop-loss order. 🛑 Stop Loss on Pennant Resistance One way to place a stop loss when trading this pattern is to put it on pennant resistance. This will help you manage your risk and protect your profits in case the breakout does not occur or the market reverses course. Some traders prefer to place their stop losses below the breakout candle. Ultimately, it’s up to you to decide which method works for you. ✅Profit Target The profit target for this trade is up to the trader. Some traders aim for a profit target equal to the height of the uptrend leading into the pennant formation, while others may take a more conservative approach and aim for a smaller profit target. Make sure your target is realistic and in line with your risk management strategy. If you liked the post and found it informative enough, click 🚀, so others can see it too!☺️ It's a shame that many great posts go unnoticed!🥹 Thanks for Your attention😘 Always sincerely yours, Kateryna💙💛
BITSTAMP:BTCUSDLong
by RocketBomb
SXP / USD 💥 mid- term trade 💥Hello, crypto enthusiasts!🫶 I'd like to highlight the potential of the SXP coin against the dollar! In my view, it shows great promise in the medium term!💥 The price is currently forming a significant wedge, which is nearing completion and poised for a breakout! For those inclined to take risks, consider placing buy orders in the orange zone. For a more conservative approach, wait for an upward breakout before entering buy orders. 🧐What are your thoughts on coins like SXP? I'm genuinely interested in your perspective! Thank you for your attention💋 Warm regards, Kateryna💙💛
Long
by RocketBomb
Daily Bitcoin and correction before halving💥Hello, dear friends!🫶 So, are You all excited about the swift rise of Bitcoin?🚀 It's cool, but regarding further movement, we need to: a) skip; b) trade carefully; c) just observe. (Let's emphasize the appropriate option 😄) But seriously, before the halving, we usually expect a correction, and right now the price is at a very strong resistance level! I don't rule out the possibility of false breakouts, but the market seems quite eager to shake us up 😁 Let's try to maintain composure! I suspect there will be plenty of opportunities soon, so let's not be greedy! On the chart, you can see that I'm expecting a "cold shower" in the coming month. 👍Also, tomorrow I'm resuming my workouts at the gym. This will be my fourth attempt since the beginning of the war 🤪 I hope it goes well! I'll need your support! Do You go to the gym? How do you relieve stress or tension?🧐Let's move forward together!💪 Always sincerely Yours, Kateryna💙💛
BINANCE:BTCUSD
by RocketBomb
6
Bitcoin $60 000 - $62 000 soon💥Hello friends!♥️ Yesterday Bitcoin sharply surged and Breakout an upward channel, that was formed since last July! This ascending channel is typically traded by breakout, which occurred! The price target for the breakout is measured by the width of the channel - I've indicated it with dashed arrows! But there's a catch! Yesterday, I posted a chart, IMHO, it's essential for you to read it and carefully consider it! On this chart, I've overlaid the same wedge in orange as in the previous post; I believe it holds significant importance for Bitcoin's future price action! The upper boundary of the wedge is resistance, which may not be immediately broken, and the price in that area may undergo a correction! It's crucial to monitor these levels! I anticipate a rise to levels around 60-62 thousand, and then we need to observe further! What do you say? What's your forecast? Share in the comments! Thank you for your attention! Always sincerely with You🫶 Your Kateryna💙💛
BITSTAMP:BTCUSDLong
by RocketBomb
4
All halvings on one chart💥Hello, crypto enthusiasts!🫶 The next Bitcoin halving is expected in April 2024. It's difficult to predict the exact date as it depends on the block height. Since halving occurs every 210,000 blocks, the next Bitcoin halving is expected in April 2024 when the block height reaches 840,000. Positive sentiments surrounding the Bitcoin halving have historically been associated with price fluctuations, as some investors anticipate price increases after the halving. Although historically Bitcoin prices have tended to increase after halving, it's important to consider that this trend is not guaranteed, and we cannot predict future price dynamics. Price trends will depend on circumstances in 2024 related to the Bitcoin halving event, including further adoption and other demand-related factors. Below are the price jumps in BTC after the halving.👇 Long before the halving, the price formed a wedge (I deliberately colored it in violet for comparison with this period in 2020). On the day of the halving, the price of Bitcoin was approximately $12. Forty-one days later, the price significantly increased to approximately $130, demonstrating significant growth. Immediately after the halving, the price formed a small wedge, resembling an accumulation zone, and after it, there was a significant price increase. For a long time from 2013 to 2015, the price formed a wedge (I deliberately colored it in green for comparison with the upcoming 2024 halving). In 2015, the price remained in a consolidation zone for some time and began to form a inverted wedge (orange color). On the day of the halving, the price of Bitcoin was approximately $660. By January 9, 2017, the price had increased to approximately $900, indicating significant growth in value over six months. Immediately after the halving, the price formed a small wedge, resembling an accumulation zone, and after that, there was a significant price increase. Long before the halving, the price formed a wedge (I deliberately colored it in violet for comparison with the 2012 period). The price of Bitcoin was approximately $8,600 on the day of the halving, and six months later, around November 11, 2020, it had risen to more than $15,700. Immediately after the halving, the price formed a small wedge, resembling an accumulation zone, and after that, there was a significant price increase. For a long time from 2021 to 2022, the price formed a wedge (I deliberately colored it in green for comparison with the upcoming 2016 halving). In 2022, the price remained in a consolidation zone for some time and began to form an inverted wedge (orange color). On the day of the halving (which will take place in April of this year), the price of Bitcoin is likely to be within the boundaries of the orange wedge. Immediately after the halving, the price will form a small wedge, resembling an accumulation zone, and after that, there will likely be a significant price increase. Why am I making such a forecast? Because every previous time it happened just like this! This halving is more similar to the one in 2016 based on price movements! Hey guys, I'm really curious about your opinion! Did you like my post? I put a lot of effort into it, and I'd be glad to see your engagement! Always sincere with You, Your Kateryna💙💛
BITSTAMP:BTCUSDLong
by RocketBomb
5
Bitcoin on 1h chart by RBHello, traders!🫶 💥Exciting news in the world of cryptocurrency!💥 Bitcoin has surged past the $51,000 mark and is now confidently aiming to establish itself within the $51,000 - $52,000 range. It's evident that resistance levels have been convincingly broken, indicating a bullish momentum in the market.🚀 Following a minor correction, we anticipate Bitcoin to potentially reach the $55,000 milestone. However, we also foresee a retracement to levels between $51,100 - $50,400 to fill the gap that has formed, providing an opportunity to gather momentum for further upward movement. 🚀 This is an exciting time in the crypto space, and I'm eager to hear your thoughts. 🧐Were you expecting this surge or were you anticipating a correction? Share your insights in the comments below!👇 Wishing You all a fantastic day filled with successful trading!♥️ Warm regards, Kateryna💙💛
BINANCE:BTCUSDLong
by RocketBomb
Loom/BTC by RB Hello, friends!🫶 Check it out! 🧐The price looks great at the moment! The formation of the wedge is coming to the end. Previous wedges worked out fantastically! Just take a look!😱 March of 2023 - 🚀 160% October 0f 2023 - over 1000% 💥 💡So what is a wedge? The wedge pattern can either be a continuation of an existing pattern or a reversal pattern, depending on the type of wedge and the previous trend. There are 2 types of wedges indicating that the price is consolidating. 1️⃣ The first one is ascending wedges, where the price is contained within two ascending trend lines that converge because the lower trend line is steeper than the upper trend line. In other words: lows are rising faster than highs. These wedges tend to have a tendency for sharp downward movements. 2️⃣ The second type is descending wedges, where the price is contained within two descending trend lines that converge because the upper trend line is steeper than the lower one. In other words: highs are falling faster than lows. These wedges tend to have a tendency for sharp upward movements. Conservative traders may look for additional confirmation of price continuing in the direction of the breakout. The target can be set using the methodology of measuring the height of the back part of the wedge and extending it in the direction of the breakout. The overall stop level is located beyond the wedge on the opposite side of the breakout. ‼️To be confident in the trade - wait for the price to breakout! This will give you greater confidence! Thanks for your attention! Yours, Kateryna💙💛
LLong
by RocketBomb
Common Mistakes Traders Make When Placing Stop Loss OrdersLet’s discuss the four major mistakes traders often make when implementing stop losses. 😔 We consistently emphasize the importance of proper risk management, as using stop losses incorrectly can result in more losses than gains. And surely, that's not what you desire, right? 💰 Setting Stops Too Narrowly The initial and frequent error is setting stops too tightly. 🤦‍♂️ By placing extremely close stops on trades, there's insufficient "breathing space" for price fluctuations before it moves in your desired direction. Always consider the pair’s volatility and the likelihood of it lingering around your entry point before continuing its trend. 😌 Allow your trades ample room to fluctuate and factor in volatility! 📈 Reliance on Position Size Rather Than Technical Analysis Using position size as the primary determinant for stops, such as "X" or " NYSE:X amount," instead of relying on technical analysis, is ill-advised. 🚫 Position sizing shouldn't dictate stop placement; it's unrelated to market behavior. Since we're trading the market based on technical analysis, it's logical to set stops based on market dynamics. 📊 After all, you've chosen your entry and targets through technical analysis; similarly, determine your stop. This isn't to dismiss position size entirely. 🤔 Rather, decide on stop placement before calculating position size. Setting Stops Too Distantly Some traders err by placing stops excessively far, hoping that market movements will eventually align with their expectations. 😞 But what's the purpose of setting stops then? Why persist with a losing trade when reallocating those funds could lead to a more profitable opportunity? 💡 Setting stops too far increases the distance your trade needs to move favorably to justify the risk. As a rule of thumb, stops should be closer to entry points than profit targets. 🎯 Naturally, aiming for less risk and greater reward is preferable. With a favorable risk-to-reward ratio, like 2:1, profitability is more attainable, provided you're accurate in your trades at least half the time. 📈💰 Placing Stops Directly on Support or Resistance Levels Setting stops either too tight or too distant is counterproductive. So, where should stops be placed? Certainly not directly on support or resistance levels. Why not? 🤔 Despite advocating for technical analysis in determining stops, placing stops precisely on support or resistance levels isn't advisable. It's prudent to consider nearby support and resistance levels when setting stops. 📉 For long positions, identify a nearby support level beneath your entry and place your stop accordingly. Conversely, for short positions, identify the subsequent resistance level above your entry and position your stop nearby. Why avoid placing stops directly on support or resistance levels? Because there's still a possibility of price reversals upon reaching these levels. By positioning your stop slightly beyond these levels, you can confirm whether the support or resistance has been breached, allowing you to acknowledge any misjudgments in your trade idea. 🔄 In conclusion, mastering the art of setting stop losses is crucial for successful trading. By avoiding these common mistakes and adhering to sound risk management principles, traders can enhance their profitability and minimize losses. Remember to give your trades adequate breathing room, base stop placements on technical analysis rather than position size alone, avoid setting stops too far or too close, and refrain from placing stops directly on support or resistance levels. With diligence and discipline, traders can navigate the markets more effectively and increase their chances of achieving consistent success. 🚀 In the fast-paced world of trading, making informed decisions is paramount. By understanding the nuances of stop loss placement and steering clear of these pitfalls, traders can position themselves for long-term success in the financial markets. So, take heed of these insights, refine your trading strategies, and approach the markets with confidence and precision. Happy trading! 😊📈🎉 Your Kateryna💙💛
BINANCE:BTCUSDEducation
by RocketBomb
2
Weekly BTC by RBHello, dear friends!🫶 Today my attention is focused on the weekly Bitcoin chart! Let's apply the MACD indicator (it works best on longer timeframes)!👍 If you don't know or have forgotten how it works, then let me briefly describe it to you!😉 🔴A sell signal is generated when the MACD line crosses below the signal line. 🟢A buy signal is triggered when the MACD line (blue line in the chart) crosses above the signal line (red line). I have marked with red 🔴 circles cases where the blue line was below the signal line, which served as a signal to sell. And with green 🟢 circles - the blue line crosses the red line - this is a signal to buy! The green and red arrows reflect signals to buy or sell, which were reflected by the indicator. Currently, the indicator is at a crossover, if this happens, it will be a signal to sell! I suggest keeping an eye on this indicator in the coming days!🧐 ⁉️What do you think? Will the lines cross? Or will they manage to align? If this post was clear and interesting, hit 🚀 , share with friends, I'll be very pleased! Stay tuned! Always happy to see You! Sincerely yours, Kateryna💙💛
BITSTAMP:BTCUSD
by RocketBomb
7