Remember, technical analysis increases the likelihood of that happening at some point, but anything can happen in the market, always keep that in mind so you can manage your risk and protect your capital, which is your greatest production tool.
I have been in the trading world for about 2 years, so I still consider myself somewhat of a novice, in continuous learning. During the experiences I have lived through during this time, I have realized that the most important thing to achieve success and consistency in trading is the psychological aspect, emotional state, and attitude. That is why today I am going to share a quote from my friend Mark Douglas, taken from his book Trading in the Zone.
To reduce emotional risk, it is necessary to understand and assimilate the following:
1. In the market, anything can happen.
2. It is not necessary to know what will happen to be profitable.
3. There is the same probability of having winning and losing trades.
4. Technical analysis is only a prediction that increases the likelihood of something happening at some point.
5. In the market, every moment is unique.
I can tell you that in my experience I have not yet reached the goal, but we are still moving forward. Do not get discouraged, study, and work on your mind. Tell me about your experience.
Applying Fibonacci Retracement and Extension and reviewing some candles with inefficiency in the bullish structure, I find a very attractive level for the retracement of $BTC to approximately 80000, considering that there is a confluence at the 50 Fibonacci Retracement level, 161.8 of the Fibonacci extension and it covers a daily candle inefficiency at that price ... and then continue with its bullish run .... the dawn will come and we will see ..