I don't do 'breakout trading', and the reason is simple
This thing in the crypto world is a trap specifically designed to fool you into buying!
Think about it, what do market makers like to do the most? They draw lines for you to see! They first create a fake breakout to make you think 'it's taking off! Hurry up and chase!', but as soon as you jump in, they immediately dump the price, trapping you. In the crypto world, 90% of breakouts are fake, especially those that have no volume and suddenly spike up; they are basically fishing.
Moreover, real breakouts often do not give you comfortable entry opportunities; either they shoot up with a big candlestick and you can't buy in time; or they linger around, break out and then retrace, but as soon as you buy, it falls below support and turns into 'fake breakout, real crash'.
So, I'd rather wait for the trend to confirm before making a move, like using the 4-hour MA60 moving average, which can filter out most false signals. Breakout trading?
That's a slaughterhouse prepared for retail traders, I won't play that game!
If you don't know how to operate in this kind of market
You can follow @墨飞聊趋势
I have ideas, you have execution power, and there's still a place
