😱 When even professionnals start to panic ... - LDTP #14
Diupdate
Let's do the point !
Hard to find time to do updates this past week but here one because we see too much panic actually. So where are we ? Is it the end for cryptocurrencies ? Maybe the cave for all ? No, none of these we are just following everything I'm saying since two month now. We play the game of the Wyckoff accumulation, we play the game of an psychological pattern handle by big hands.
Like I was saying in the lasts updates, none of the plans to avoid spring take place so we are going for the spring. Yes we break our demand area, yes there is a breakout today, but keep the larger picture, we are not in bear market. Like when I called to not go long under a resistance after the March 28th breakout, I strongly advise you to don't sell this, you don't sell over a support.
▶️So where we go ?
Plan didn't change, it's time to WAIT and to be PATIENT, wait price to go inside the spring area, wait for signals and wait for buying volumes (probably on 4H/1H timeframe). Furthermore, we broke the channel so we can expect now the target of it which is the extension. No reason to play it now, there was a signal but I didn't had time to post it and as I never explained continuation signals, I don't want to just throw it without explanation. As we already reached the middle of the target + we are in a weekly support, it wouldn't be smart to sell on pullback after that. This target match with the spring area which is always better when you see multiples plans/patterns target the same area.
▶️What movement can we expect now ?
The first possibility, that I don't think will happen but exist and has to be noticed is the Wyckoff STB. It's not impossible to see another cycle from this weekly support (without reach the bottom of the spring area) to the last AR before to see finally the last cycle of spring. I'm not confident in it when I see the structure of the last movement and mostly because of the actual psychology of the market. Fear & Greed isn't update for the moment but should be on the historical low or near of it tomorrow. It's exactly what the pattern search so that why I always believe we are in the last cycle, the spring.
Saying that, two way to reach the bottom : pullback the broken demand area before before to reach the spring area. Or the most brutal, and what I actually believe, the flush. We have a breakout today, with big volume, which could be an exhaust also. Which better way than the flush to liquidate the market and retailers by the same occasion. Only 20% from now, believe me, it's the next door. When there is high volatility, large spreads, panic movement, you can do it in nearly 2 hour on this asset. Once we broke $28,800 it will be straight to it.
If the spring pattern fail, it's simple, it's the bear market, but no reason to speak of it until we closed the weekly candle under it. It's impossible to speak of a state of market in prevision of it like an actual fact. So many are doing it since weeks or month now but it's another way to see which one speak with knowledges & experience. A simple exemple, you can't say price IS
25K when your chart show you 30k, so how you could say we ARE in bear market when you are always over your timeframe support. That exactly why many people lose money on market, they anticipate factuals facts or simply they use words that they don't understand the signification, confusing bear movement and bear market.
Before to close this LDTP, if you remenber the LDTP #9, I took an edging position (signal was also posted in another idea the 29th of march, everything attached under) then I said in the LDTP #10 that I will hold the rest of the position to the support. I closed it May 5th at $36,500 which turn a losing 2:1 ratio position into a winning 6.5:1 position, closing the story of the edging position.
🛑"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"🛑
Saying all that, be patient, be careful, wait signals, don't anticipate cause I awared about volatility and we are fully in it.
👉 Like, follow or comment* if you like, I need it to continue !
*Speaking of comments, come ask questions, come share your point of view, come debate, I need to feel that my without counterpart work is usefull for some !
Hard to find time to do updates this past week but here one because we see too much panic actually. So where are we ? Is it the end for cryptocurrencies ? Maybe the cave for all ? No, none of these we are just following everything I'm saying since two month now. We play the game of the Wyckoff accumulation, we play the game of an psychological pattern handle by big hands.
Like I was saying in the lasts updates, none of the plans to avoid spring take place so we are going for the spring. Yes we break our demand area, yes there is a breakout today, but keep the larger picture, we are not in bear market. Like when I called to not go long under a resistance after the March 28th breakout, I strongly advise you to don't sell this, you don't sell over a support.
▶️So where we go ?
Plan didn't change, it's time to WAIT and to be PATIENT, wait price to go inside the spring area, wait for signals and wait for buying volumes (probably on 4H/1H timeframe). Furthermore, we broke the channel so we can expect now the target of it which is the extension. No reason to play it now, there was a signal but I didn't had time to post it and as I never explained continuation signals, I don't want to just throw it without explanation. As we already reached the middle of the target + we are in a weekly support, it wouldn't be smart to sell on pullback after that. This target match with the spring area which is always better when you see multiples plans/patterns target the same area.
▶️What movement can we expect now ?
The first possibility, that I don't think will happen but exist and has to be noticed is the Wyckoff STB. It's not impossible to see another cycle from this weekly support (without reach the bottom of the spring area) to the last AR before to see finally the last cycle of spring. I'm not confident in it when I see the structure of the last movement and mostly because of the actual psychology of the market. Fear & Greed isn't update for the moment but should be on the historical low or near of it tomorrow. It's exactly what the pattern search so that why I always believe we are in the last cycle, the spring.
Saying that, two way to reach the bottom : pullback the broken demand area before before to reach the spring area. Or the most brutal, and what I actually believe, the flush. We have a breakout today, with big volume, which could be an exhaust also. Which better way than the flush to liquidate the market and retailers by the same occasion. Only 20% from now, believe me, it's the next door. When there is high volatility, large spreads, panic movement, you can do it in nearly 2 hour on this asset. Once we broke $28,800 it will be straight to it.
If the spring pattern fail, it's simple, it's the bear market, but no reason to speak of it until we closed the weekly candle under it. It's impossible to speak of a state of market in prevision of it like an actual fact. So many are doing it since weeks or month now but it's another way to see which one speak with knowledges & experience. A simple exemple, you can't say price IS
25K when your chart show you 30k, so how you could say we ARE in bear market when you are always over your timeframe support. That exactly why many people lose money on market, they anticipate factuals facts or simply they use words that they don't understand the signification, confusing bear movement and bear market.Before to close this LDTP, if you remenber the LDTP #9, I took an edging position (signal was also posted in another idea the 29th of march, everything attached under) then I said in the LDTP #10 that I will hold the rest of the position to the support. I closed it May 5th at $36,500 which turn a losing 2:1 ratio position into a winning 6.5:1 position, closing the story of the edging position.
🛑"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"🛑
Saying all that, be patient, be careful, wait signals, don't anticipate cause I awared about volatility and we are fully in it.
👉 Like, follow or comment* if you like, I need it to continue !
*Speaking of comments, come ask questions, come share your point of view, come debate, I need to feel that my without counterpart work is usefull for some !
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