Art of the Chart - TAking Requests!
Hey all :}
Here is your chance, once more, to toss in some requests. This doesn’t necessarily have to be crypto pair analysis requests, but can be pairs from other markets, or just a request for a specific advice or idea.
The total crypto market cap has moved back to the top of the range, and many pairs are being shared on Twitter right now, with comments about how they look like they’re about to break long. What they don’t seem to be aware of, is the fact these pairs moved to the tops of their respective ranges / structures correctively, which is still a bearish sign. Just because the market went UP, doesn’t mean the trend reversed… When markets move, they pull back and then they move (Impulse) once again. This is known as “the breathing cycle" of the market. When the Impulse is down, the slow & choppy correction is pulling back up slightly, that’s gearing up for another impulse short, as the cycle is Impulse > Correction (breath) > Impulse (exhale). So, that being said, it’s better to buy STRENGTH in these types of market conditions. Waiting for the first smaller 1H flag that forms AFTER the break is a good way of doing this. It may save you a bundle if we continue the trend down for another few weeks… And if it does break long, you will have much more faith and confidence in your position, and sleep better at night, even if you’re buying a little higher.
Hope this quick tip helps, and I wish you all a great week ahead!
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