๐จ BTC Support & Resistance: Donโt Trade the Wick!
One of the biggest mistakes beginners make is entering a trade just because price touches Support or Resistance.
On the 4H BTC chart:
๐ข Support: Look for rejection, a lower wick and a bullish candle close. ๐ด Resistance: Look for rejection and a bearish candle close. โ ๏ธ Breakout: A wick above Resistance is NOT enough. Wait for the candle to close above and see if the next candle holds the level.
๐ข LONG-TERM PERSPECTIVE: โ Stable Inflation = Positive Signal โ Watch Fed's Next Move Closely โ GOLDEN BUYING OPPORTUNITY โ Accumulation Phase for HODLers
๐ก SMART TRADING STRATEGY:
1๏ธโฃ Continue DCA (Dollar Cost Averaging) 2๏ธโฃ Set Buy Limit Orders at Support Levels 3๏ธโฃ Secure Your Long Positions 4๏ธโฃ Wait for FOMC Meeting Announcement