$BTC is still moving sideways around the 200-day moving average, which is also the uptrend line in place since July and a Fibonacci support level—a zone where bulls and bears agree. No need to panic unless it breaks below this level; just hold on.
On the short-term 2-hour chart, price is in a new TR range and retesting the previous low.
The breakout on November 4 was pushed back down, but it was a valid Wyckoff-style breakout. The problem was unexpected selling pressure from the sharp drop in U.S. stocks—this kind of black-swan event cannot be predicted in advance. That’s why I’ve always stressed that you must set a stop-loss when adding to a position on a breakout: it protects you from the unexpected. The breakout was real, and so was the sell-off. If your stop is hit, take the loss—a controlled loss is a healthy part of trading.
This TR has yet to produce an ideal test, so keep watching. My personal view: if we don’t make a new low this week, the pullback will most likely be over.
Commentary: Trading profits come from a system, not from guessing. The key to surviving in the long run is having the courage to place a bet—and knowing when to cut your losses.
#BTC #Crypto
On the short-term 2-hour chart, price is in a new TR range and retesting the previous low.
The breakout on November 4 was pushed back down, but it was a valid Wyckoff-style breakout. The problem was unexpected selling pressure from the sharp drop in U.S. stocks—this kind of black-swan event cannot be predicted in advance. That’s why I’ve always stressed that you must set a stop-loss when adding to a position on a breakout: it protects you from the unexpected. The breakout was real, and so was the sell-off. If your stop is hit, take the loss—a controlled loss is a healthy part of trading.
This TR has yet to produce an ideal test, so keep watching. My personal view: if we don’t make a new low this week, the pullback will most likely be over.
Commentary: Trading profits come from a system, not from guessing. The key to surviving in the long run is having the courage to place a bet—and knowing when to cut your losses.
#BTC #Crypto
