Manual Bull Trap.
If you look at the chart, it’s done the classic bull trap: breaks the bearish channel upwards, makes everyone think we’re heading straight to the moon (it hit around 2.42 and some change) and when FOMO kicks in... bam! Back into the channel.
I’m no expert in technical analysis, but my play has been to cash in on the whip to secure liquidity. I’ve been stacking lots since 1.32, leaving my average price at 2.02. In the end, I let go of a lot at 2.406, seeing that shortly after the price turned around in the 2.42 area and slipped back inside.
I never try to guess the top or nail the exact cent. My strategy is simple: I do staggered buys and sells (DCA both down and up). The stronger the price moves, the more room I give the next lots to run.
What works for me is locking in profits during these whips and not getting carried away by impulses to avoid getting trapped at the top. Patience and a cool head!
Even if you're a small fish, always think like a whale. 🐋
Best wishes, cheers and happy trading 📉📈
$BTC
If you look at the chart, it’s done the classic bull trap: breaks the bearish channel upwards, makes everyone think we’re heading straight to the moon (it hit around 2.42 and some change) and when FOMO kicks in... bam! Back into the channel.
I’m no expert in technical analysis, but my play has been to cash in on the whip to secure liquidity. I’ve been stacking lots since 1.32, leaving my average price at 2.02. In the end, I let go of a lot at 2.406, seeing that shortly after the price turned around in the 2.42 area and slipped back inside.
I never try to guess the top or nail the exact cent. My strategy is simple: I do staggered buys and sells (DCA both down and up). The stronger the price moves, the more room I give the next lots to run.
What works for me is locking in profits during these whips and not getting carried away by impulses to avoid getting trapped at the top. Patience and a cool head!
Even if you're a small fish, always think like a whale. 🐋
Best wishes, cheers and happy trading 📉📈
$BTC