Are you looking at $BTC being up 1.39% right now and itching to go long?
I’d advise you to stay calm. Open the candlestick chart and take a look: it surged from 80961 to 84130, and then what? It stopped. It hit resistance and pulled back. What does that tell you? That there’s nothing but sell orders above, and big players are unloading.
Now look at the funding rate: it’s negative. What does that mean? Short sellers are paying long holders interest. The bears are this convinced—do you think they’re idiots? They have information you can’t see.
I used to be just like you. I’d chase every rise and ended up losing 200,000 U. Every time, I’d buy at the top and sell at the bottom, getting burned over and over. Eventually, I learned my lesson: don’t chase a rally; wait for resistance to go short. Don’t panic when it falls; wait for support to go long.
The price is now 83160, with resistance at 84000 and support at 83000. My plan is clear: a small 5000U position. If it rebounds to 83800, I’ll go short, with a stop-loss at 84200. My first target is 83000; if it breaks below that, I’ll hold and watch for 82000.
Don’t let one bullish candle shake your convictions. The market will teach you a lesson.
#EthereumBreaksAbove$2500
I’d advise you to stay calm. Open the candlestick chart and take a look: it surged from 80961 to 84130, and then what? It stopped. It hit resistance and pulled back. What does that tell you? That there’s nothing but sell orders above, and big players are unloading.
Now look at the funding rate: it’s negative. What does that mean? Short sellers are paying long holders interest. The bears are this convinced—do you think they’re idiots? They have information you can’t see.
I used to be just like you. I’d chase every rise and ended up losing 200,000 U. Every time, I’d buy at the top and sell at the bottom, getting burned over and over. Eventually, I learned my lesson: don’t chase a rally; wait for resistance to go short. Don’t panic when it falls; wait for support to go long.
The price is now 83160, with resistance at 84000 and support at 83000. My plan is clear: a small 5000U position. If it rebounds to 83800, I’ll go short, with a stop-loss at 84200. My first target is 83000; if it breaks below that, I’ll hold and watch for 82000.
Don’t let one bullish candle shake your convictions. The market will teach you a lesson.
#EthereumBreaksAbove$2500