Most traders lose their portfolio not during brutal bear markets, but right after a historic breakout when greed takes over.
Watching the market rip higher triggers that familiar ache in your chest, making you feel like every pullback is a lost opportunity rather than a natural breath. But jumping into euphoria without understanding structure is how late longs become exit liquidity for the smart money.
Looking at current price action, $BTC just completed an extended Wave 3 push straight into the 2.618 Fibonacci extension. We swept the previous monthly high, only to immediately reject with a clear deviation and close back below that critical level. Having survived multiple cycles since 2017, this exact setup is a classic distribution signature before a necessary cool-off.
Because that third wave stretched further than expected, the projected Wave 4 corrective targets have adjusted upward. The primary level to watch for a healthy retest sits at $74.6K, while $72.9K marks the maximum expected downside before any continuation. Letting $ETH or major alts dictate your risk while Bitcoin resets often leads to chopped-up accounts. Respecting these structural levels keeps you solvent when everyone else is panic selling.
Are you bidding this anticipated retest, or waiting for clearer confirmation on the lower timeframes?
#Bitcoin #CryptoTrading #TechnicalAnalysis
Watching the market rip higher triggers that familiar ache in your chest, making you feel like every pullback is a lost opportunity rather than a natural breath. But jumping into euphoria without understanding structure is how late longs become exit liquidity for the smart money.
Looking at current price action, $BTC just completed an extended Wave 3 push straight into the 2.618 Fibonacci extension. We swept the previous monthly high, only to immediately reject with a clear deviation and close back below that critical level. Having survived multiple cycles since 2017, this exact setup is a classic distribution signature before a necessary cool-off.
Because that third wave stretched further than expected, the projected Wave 4 corrective targets have adjusted upward. The primary level to watch for a healthy retest sits at $74.6K, while $72.9K marks the maximum expected downside before any continuation. Letting $ETH or major alts dictate your risk while Bitcoin resets often leads to chopped-up accounts. Respecting these structural levels keeps you solvent when everyone else is panic selling.
Are you bidding this anticipated retest, or waiting for clearer confirmation on the lower timeframes?
#Bitcoin #CryptoTrading #TechnicalAnalysis
