btc didn't manage to close above the next resistance, downward movement / retracement is expected

especially so because it was the hourly close that failed to close above resistance

however, definitely possible that it pumps out of nowhere with market sentiment - that's why we have our last 25% as runner to catch that for us!

if this 15m candle closes RED,

small retracement will happen

closed green, more upward movement for now

the first two candles almost have the same high on their wicks

this tells me that there is another new minor resistance there not printed by historical price data

#learn #analysis

look at the current candle struggling as well - that's how you know!

so the next move would be looking for a nice close ABOVE this new minor resistance printed

that's when a long would good

#calls

yup, couldnt close above it as well

if the market was on a downtrend, a short would be nice

however as we're in an uptrend now, it is NOT recommended

never trade against the trend!

#tip

:-)

the moment it closed above the line (newly printed minor resistance)

BOOM!

that's how you trade guys 😉

cheers!

called it here ^^^^^

hopefully this accuracy can maintain in the coming days

and profits should come nicely!

patience is key when trading ++++

to be consistently profitable you need to have patience and keep a lookout for PRICE ACTION which is very very important!!! only then can you make trades and analysis like that because you understand how the market is moving currently at any point in time

#tips

couldnt close above my resistance line as charted and identified from previous price data

same line here

closing my BTC long here as I have enough profits for myself already

please do still hold if you want

higher tf view for you guys (4h tf)

we can see that BTC is breaking out of the triangle with the most recent close

it might be a fakeout so let's wait for the retest before entering

#analysis

sometimes when price goes ABOVE a resistance trendline,

it signifies to retail investors and traders that the coin is OVERBOUGHT and what happens is that price will come back down into the trendline

this happens especially often on higher tf

#learn

just want to bring us back to the demand zone lesson for awhile

as mentioned previously,

demand zone is a zone where price will come in and bounce off

looking back on the same area i shared yesterday, notice the 2 circles i highlighted

price came in and almost immediately bounced off as it is an area of high demand

so a long/buy in the demand zone is usually a good trade!

of course, depending on market circumstances

#learn