It's true that Friday's blood flows to the heart. It's sad because there will probably be many of you swept away this morning 🥹
This morning at the office, I only had time to reply to one comment on the previous post for you to avoid confusion, and while working, I was worried about everyone's anxiety, but now is the time for lunch and I have time to post.
💥 The market is always harsh like that - even though the candle closed above last night, and still in the support zone (115.7), but a drop of over 1k in price was just to "liquidity hunt" as usual.
💥 BTC.D decreased by ~5% in July, because during the crypto week, you mentioned that capital flowed to ETH with many large ETFs (receiving $1.8 billion inflow in the week while BTC only received $72 million). So you see ETH is stronger, with less adjustment, while BTC lacks the motivation to break out.
💥 BTC is still moving in the accumulation zone of 115-121 for the past 2 weeks, and is sideways near the “range expansion” phase (either a positive boundary break or a breakdown). Currently, it is still within the bull flag range, not breaking up or down clearly. The price drop last night was technical selling pressure, not bad fundamental news.
--> Volume and liquidation show that the short wall around 120-120.6 is blocking the upward momentum, while longs are mainly at risk below 115.
💥 Although this morning the lower region has been almost cleaned out. But there is currently no reversal pattern in any timeframe, H1 & H4 still have pressure, so we could still retest the 114 area, everyone.
💥 I have advised a lot about discipline and risk management, and it's common to feel down when you incur losses, just don’t be sad, just log out of the app, and come back when your mood is stable. And there’s a lesson about capital management when entering the market. From dividing capital, setting SL, volume, etc. everything must be tight and safe, don’t be subjective with the market. I have a post about capital management in futures already, you can search and check it out.
💥 I will update you again if there's anything new.
This morning at the office, I only had time to reply to one comment on the previous post for you to avoid confusion, and while working, I was worried about everyone's anxiety, but now is the time for lunch and I have time to post.
💥 The market is always harsh like that - even though the candle closed above last night, and still in the support zone (115.7), but a drop of over 1k in price was just to "liquidity hunt" as usual.
💥 BTC.D decreased by ~5% in July, because during the crypto week, you mentioned that capital flowed to ETH with many large ETFs (receiving $1.8 billion inflow in the week while BTC only received $72 million). So you see ETH is stronger, with less adjustment, while BTC lacks the motivation to break out.
💥 BTC is still moving in the accumulation zone of 115-121 for the past 2 weeks, and is sideways near the “range expansion” phase (either a positive boundary break or a breakdown). Currently, it is still within the bull flag range, not breaking up or down clearly. The price drop last night was technical selling pressure, not bad fundamental news.
--> Volume and liquidation show that the short wall around 120-120.6 is blocking the upward momentum, while longs are mainly at risk below 115.
💥 Although this morning the lower region has been almost cleaned out. But there is currently no reversal pattern in any timeframe, H1 & H4 still have pressure, so we could still retest the 114 area, everyone.
💥 I have advised a lot about discipline and risk management, and it's common to feel down when you incur losses, just don’t be sad, just log out of the app, and come back when your mood is stable. And there’s a lesson about capital management when entering the market. From dividing capital, setting SL, volume, etc. everything must be tight and safe, don’t be subjective with the market. I have a post about capital management in futures already, you can search and check it out.
💥 I will update you again if there's anything new.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
DOGE
0.1905
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