ביטקויןמעודכן Bitcoin Weekly Outlook
I want to point out some observations from the Weekly chart.
What happened: Nov 15th we closed below the weekly ATH. This was the first signs of weakness and potential for significant pullback.
Where we are now: We just closed the weekly below Diagonal and Horizontal Trend Line support and currently retesting this week. As of the time of this post, it acting as resistance.
What is next: No one knows for sure (don't let anyone tell you different), but I see 2 scenarios as most likely:
1. Close back above 52k (53k and 56k should act as LTF resistance levels) and look to retest 60k next week.
or
2. S/R flipped successfully at the 52k level and we look to retest green box again at 41-43k. This could happen by Sunday if we keep losing steam at 51-52k and 50k fails to act as local support. Fall below recent lows, and 35k should hold the line.
——————————————————————————————
Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
What happened: Nov 15th we closed below the weekly ATH. This was the first signs of weakness and potential for significant pullback.
Where we are now: We just closed the weekly below Diagonal and Horizontal Trend Line support and currently retesting this week. As of the time of this post, it acting as resistance.
What is next: No one knows for sure (don't let anyone tell you different), but I see 2 scenarios as most likely:
1. Close back above 52k (53k and 56k should act as LTF resistance levels) and look to retest 60k next week.
or
2. S/R flipped successfully at the 52k level and we look to retest green box again at 41-43k. This could happen by Sunday if we keep losing steam at 51-52k and 50k fails to act as local support. Fall below recent lows, and 35k should hold the line.
——————————————————————————————
Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
הערה
LTF resistance 
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Phemex: Referral Code= EC7RK2
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