This week the big pancake has basically been treading water.
7.88w, the same price seven days ago too—there were a few ups and downs in between, but when you look back, nothing has changed.
The burst that pushed it from 6.9w to 8.12w last week has already burned out. Now it can’t rise further and can’t drop either; it just keeps bouncing back and forth within the 2,000-point range every day.
This kind of market is the most坑人. It looks like it’s going up, so you chase it and it turns around; you think it’s about to fall, so you short—then it snaps back. Two round trips a day, and the trading fees eat up a chunk; after a couple of wick-sweeps, the money disappears just like that.
There are really only two numbers you should watch.
The previous high at 8.12w—only when it breaks through and tops it will it start a new leg. That line at 7.5w—only when it breaks down through it can you call it a real turning point.
In the middle, there’s a whole wide range that doesn’t offer any opportunities worth anything.
With the top and bottom 2,000 points apart, the move isn’t big enough compared to how much would be lost to those wick-sweeps, and the odds are too bad.
Be patient. Don’t fight it until the direction is clear. #BTC $BTC
7.88w, the same price seven days ago too—there were a few ups and downs in between, but when you look back, nothing has changed.
The burst that pushed it from 6.9w to 8.12w last week has already burned out. Now it can’t rise further and can’t drop either; it just keeps bouncing back and forth within the 2,000-point range every day.
This kind of market is the most坑人. It looks like it’s going up, so you chase it and it turns around; you think it’s about to fall, so you short—then it snaps back. Two round trips a day, and the trading fees eat up a chunk; after a couple of wick-sweeps, the money disappears just like that.
There are really only two numbers you should watch.
The previous high at 8.12w—only when it breaks through and tops it will it start a new leg. That line at 7.5w—only when it breaks down through it can you call it a real turning point.
In the middle, there’s a whole wide range that doesn’t offer any opportunities worth anything.
With the top and bottom 2,000 points apart, the move isn’t big enough compared to how much would be lost to those wick-sweeps, and the odds are too bad.
Be patient. Don’t fight it until the direction is clear. #BTC $BTC
