2021-03-18 22:04:53
#BITCOIN
I don’t like how the crypto market is moving these days. It doesn’t look strong bullish. In another way, we would see the solid breakout above the ATH and new highs.
If we look at the 4h chart of Bitcoin, the price will be able to give us a new lowers swing high. If so, we should be ready to see a downward movement toward 52 000$ at least.
Maybe short trades will be a better idea than buying. Anyway, if the market keeps moving something like that, it won’t be interesting for trading. We would like to take part in pumps with 20-30% movement per day!
The price movements in the crypto market with 3-5% per day - it is boring! It can be okay for day traders who use leverage, but it is risky and not for everyone. For swing and long-term traders, such a market is not so good. That's why I recommend thinking about Algo Trading and Stock Trading. For someone maybe option and futures trading will be a good alternative as well. The main idea is - not to use only the crypto market for trading. We need good markets moving as we need! We need markets with stable trends where we can search for amazing trade opportunities. If the crypto market can't provide it because of consolidation, it is the right decision to search for other markets.
The crypto market is not far from the top and a further crash. It is the real bubble. That's why it is very risky to open long positions using the whole capital right now. Nobody knows when we will see a strong bearish candle, which will be a start point for a new bearish trend.
Think about these ideas and plan your future trades in crypto carefully. And think about a new market, which will be able to give you what you really need.
https://www.tradingview.com/x/GL4j5gRF/
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