when trading crypto, you really shouldn't use technical analysis and use macros like I do now I have 93% winrate and from my posts you can see I predicted the bear market, I'm also posting NOT SCREENSHOTS but the trade itself so I can prove its not demo trading If you use technical analysis and draw 100 lines, since the PRICE ACTION of ANY EQUITY is 50-50 right? going UP or going DOWN, of course you're bound to hit one of the coin flips if you draw 100 lines 😭 Trade based on mostly macro man, I do agree that some support and resistances are important but literally only 1 or 2 man
$ETH why haven't I closed my position and kept adding to my shorts?
Remember when there were missiles tested for Iran from America before the peace treaty? But the market kept going up? It doesn't matter what good news there is, crypto kind of behaves differently in a sense that when we're in a bear market no singular good news can turn the tide, same as in when we're in a bull market, no singular bad news can turn the tide, the only thing that can change into a bull market if you have an influx of good news. IF YOU CHECK ANY MAJOR NEWS AND ITS REGIME THIS HAPPENS! (except for 2021 stimulus checks, literally this is the pattern for crypto)
What did we have? 0.1% increase in Unemployment Rates (Bad) 111k Job Creations (Good) Tariffs removed on inflated goods primarily needs (Good) Yen bonds going up 8%+ (Bad)
With a plus on speculative recessive indicators in the US and its institutions being the primary holders of Crypto, its no wonder theres a selloff
LISTEN IM ALSO A BULL I still have long spot positions, but when trading short term you have to be wary on what market you are on or you'll lose everything if you keep having the sentiment that you MUST be a BULL, no man...
You might speculate that the bottom is in but, because of margin trading if you see realized vol you would see a different picture, thats why everyday crypto has been going up 5%
asce808
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බෙයාරිෂ්
$ETH So BLS data for September ahead of shutdown arrived, unemployment rates rose 0.1%, HOWEVER there were 111k job creations which is really good, unfortunately since October Job Reports are being hidden from the public, markets are specilating a recession on top of the Japanese Yen curve skyrocketing on bonds (Which is free money and what institutions want, something risk free yet returns 8% is insane if you have a lot of money)
That being said, even with GOOD NEWS, the crypto market BARELY reacted, do you know what that means? we're in a BEAR MARKET and until the coin drops naturally, without leverages an organic volatility spike. We will continue to be and then we'll become bulls again after that.
Remember when we were in a bull market? and then there was the Iran war, America declared missiles testing yet the crypto market still went up? Because we were in the middle of a BULL MARKET, the momentum and added organic volatility and spots $couldn't stop.
I've just been adding to my short positions since the major catalyst is still in Early December (BLS report for November and FOMC).
$ETH So BLS data for September ahead of shutdown arrived, unemployment rates rose 0.1%, HOWEVER there were 111k job creations which is really good, unfortunately since October Job Reports are being hidden from the public, markets are specilating a recession on top of the Japanese Yen curve skyrocketing on bonds (Which is free money and what institutions want, something risk free yet returns 8% is insane if you have a lot of money)
That being said, even with GOOD NEWS, the crypto market BARELY reacted, do you know what that means? we're in a BEAR MARKET and until the coin drops naturally, without leverages an organic volatility spike. We will continue to be and then we'll become bulls again after that.
Remember when we were in a bull market? and then there was the Iran war, America declared missiles testing yet the crypto market still went up? Because we were in the middle of a BULL MARKET, the momentum and added organic volatility and spots $couldn't stop.
I've just been adding to my short positions since the major catalyst is still in Early December (BLS report for November and FOMC).
my win rate is 90%, i do want to release more live signals, but theres too little followers, as you see in my past we have made over 10x in profits, don't think I'll continue here if i dont have more reach though.
People in crypto fail to see macro sometimes: $TAO $SOL 1. not enough liquidity in the market, retail got mass liquidated on Oct 10 and literally right now longs are getting fucked and liquidated, whos gonna buy? It's literally econ101 when supply is increasing but demand is decreasing, price will go down.
2. recessionary reports, CPI and ADP not looking too good its very bad
UNTIL WE SEE either BREAKEVEN BLS REPORTS or better, or signs of no recessionary traits and cuts in December, there won't be a catalyst or bullish case.
After looking at jobs reports from Delloite and recent ADP reports, its not really looking good, and AI spending is whats holding back recessionary traits in the US, which I don't think will hold. However let's see.
The correlation between AI crypto and stocks like NVIDIA for its chips is highly correlated, therefore I think my next move is to short $TAO or something like $VIRTUAL