Crypto you need a lot of patience, even on stock markets. You take your time and let he market do its thing and wait.
I have been quiet, as I am waiting patiently waiting for the market to correct.
The RSI uptrend on monthly shows divergence, as per below. The weekly has crossed this trend indicating reversal, and the MA on the RSI has also crossed this trend line.
Weekly has tried to setup and break back into the trend and failing, which means chart is likely possible to move into oversold for correction phase.
Should weekly break back into the trend and remain, then BTC price will limb up again, if not, be prepared for correction stage.
Looking at the Williams % channel, it has reached overbought, it might attempt to set another higher high before continuing the reversal pattern down to 50% retest at around the $48k level.
DYOR, as these are my analysis I use, dont take as financial advise.
If you re new to trading and not certain when to buy into a market. The best way is to use the most simple way. Using the golden cross method on higher time frames using the 200 MA and the 50 MA. When they cross, it signals trend movement.
On the cross, draw a horizontal line, making it your support and resistance barrier. When a market crosses, it will also retest to that same level, it also allows you to cancel out false breakouts.
A very simple 101 method, and allows you to put in stop losses properly when entering a market.
I used this method on other exchanges, and it is the best way, also, dont target high leverage. I always set my market at 5:1, for every 1% gain, I get 5% return. Also allows you to not lose your funds much faster.
When trading, make a trade of 1% of your overall account, allows you to lose less, and if market works in your favour, your 1% trade, is a 5% profit.
Guys, dont take peoples word to either by or sell coins.
You were blessed with a brain and instinctive thinking.
1. Plot technicals that works for you 2. Your eyes see something, your brain analysis the information 3. YOU HAVE SIXTH SENSE telling u if its wrong or rite, its not an emotional decision, its your body reacting to warn u
I share my market reads, but I dont tell people to buy or sell.
Rather trade with your head, and your sixth sense, as your psychological brain is reading emotions on people in the market.
The same sixth sense that warns you or makes you feel uncomfortable around certain people, trust that instinct, I have and still do.
You have the power to become successful yourself without relying on other people to tell you to buy or sell.
Guys, dont fall just for free links etc. Before you know, your phone, wallets or anything personal is hacked and you lose everything.
I have been scrolling through posts, and there are so many. Be careful, dont let greed make the wrong decision for you.
People showing off so many coins and money, but they dont show it reflecting as live and valid in their Binance wallet, if you cannot show its in your Binance wallet, not testnet or anything of that kind, then I sont entertain.
Free give aways is only red packets on Binance, which is legit, not like all these other things I have seen.
Be very cautious.
Slow accumulation and flexible staking is the way to go.