When you miss a trade, I think instead of crying about missing the move, it's always a good idea to open the chart, go through every timeframe, and ask yourself: Was there actually a trade setup?
If there was, then ask yourself how you could have captured it so you don't miss a similar opportunity next time.
When it comes to the chart, there wasn't any obvious setup that clearly signaled this move. But there were some psychological and market positioning clues you could use to position yourself for it. That requires a good understanding of the market, and someone new to trading may not be able to recognize these things.
A few things that stood out to me:
- The market wasn't responding to Saylor selling. -BitMart, BitMEX, AscendEX, cold wallet hacks... there was plenty of bad news, but the market didn't even flinch. -Many traders were positioned for a bearish August and a final BTC capitulation in Q4. -Traders who shorted when the price closed below the 200 SMA had what looked like a clean setup.
Around $2.7 billion in shorts got liquidated, which tells you a lot about how the majority was positioned.
You don't have to catch every move in the market. Sometimes you miss a move simply because there wasn't a setup that fit your system, and that's completely fine. In fact, when you miss a move, you can sometimes learn more from studying it than you do from a winning trade.
The market isn't going anywhere. If this really is the start of a bull market, there could still be 2–3 years of upside ahead.
Missing one move doesn't mean you've missed everything. Learn from it, stay patient, and wait for the next setup.
On Monday, I said we could see some volatility this week. I didn’t want to guess the direction because when the price is ranging, you never know which way it could run.
Many traders got liquidated.
* Traders who were positioned for a bearish August and a BTC final Q4 capitulation. * Traders who shorted when price closed below the 200 SMA. It was a clean setup for them.
One of the largest short liquidation events in recent history
Things will get pretty clear if the price manages to hold above this breakout.
A failed breakout could lead to much more downside because it wiped out many shorts, and some fresh longs may have entered after the breakout.
Bulls should not lose momentum.
CRYPTO MECHANIC
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$BTC Besides that SMA thing i shared below. The overall weekly/Daily chart remains range bounded. I am somewhat expecting that we will see some volatility this week.
When it comes to taking a trade. Unfortunately there is nothing still
$BTC Besides that SMA thing i shared below. The overall weekly/Daily chart remains range bounded. I am somewhat expecting that we will see some volatility this week.
When it comes to taking a trade. Unfortunately there is nothing still