LIVE : Bitcoin MOON MISSION or Another FAKE OUT + Chart Setups
Science & Technology
Introduction
Join us live daily at 3:00 PM Eastern Standard Time as we delve into the world of trading, providing the vital information you need to maximize your profits. Whether you're new to trading or a seasoned pro, understanding the who, what, where, when, and especially the why behind market movements is essential.
Market Overview
Today’s market is showing some green as various cryptocurrencies are starting to gain momentum. Coins like GOAT have jumped 13%, HEX is up 23%, and MOG has seen a 16% increase. Meme coins are also leading the pack, with Popcat soaring nearly 177%, Pepe at 11%, and Shiba over 10%. This revival of meme coins indicates a potentially lively trading environment as we continue through the bull market.
Liquidations Breakdown
As we analyze liquidations in the market, we observe significant short positions totaling approximately $ 184 million across various timeframes. Out of these, $ 17.5 million positioned on the one-hour mark and $ 28 million on the four-hour frame are noteworthy. Currently, I hold both a long and a short position, but the volatility of small market cap assets often leads to unpredictable patterns, making risk management crucial.
Bitcoin Price Action
Turning to Bitcoin, we’re nearing the all-time high of $ 73,794, and it seems traders are getting bullish. I previously identified my liquidation areas, especially earlier short positions that many are currently struggling with. It's vital to note that these breakouts could lead to substantial 'FOMO' (Fear Of Missing Out), often resulting in a pullback following strong upward movements.
While I appreciate the bullish sentiment, I remain cautious. The previous price action has shown that significant upward movements tend to be followed by corrections of at least 35-50%. Big market makers will likely take advantage of this volatility, leading to potential liquidations on the long side. This scenario is worth considering as we approach the peak of this cycle.
Inverse Trading Patterns
Interestingly, currently trending patterns have often pointed toward either a cup-and-handle formation or a broader pattern altogether. Proper identification of these patterns requires an understanding of the relative sizes of facets like the bowl and handle. This rise has not been a typical bullish flag; it suggests we might be facing a broader market setup.
In this environment, the significance of patience cannot be overstated. By waiting for proper breakouts and retracement levels, you can position yourself favorably within these market movements.
Conclusion
As the market shows signs of life, it’s critical to stay informed and engaged, ensuring that you're not left out of the potential profitability these assets offer. I encourage everyone to connect with like-minded traders and continuously refine your trading strategy for a prosperous journey ahead.
Keyword
Bitcoin, trading, liquidations, all-time high, FOMO, market makers, cup-and-handle, bullish pattern, meme coins, market cap.
FAQ
Q: What time do you go live?
A: I go live daily at 3:00 PM Eastern Standard Time.
Q: What are the current trends in the market?
A: Currently, many cryptocurrencies, especially meme coins, are showing positive movement with gains in the double digits.
Q: How do liquidations impact trading?
A: Liquidations can lead to significant price swings as positions are forcefully closed, leading to a cascading effect on market prices.
Q: How can I check trading patterns?
A: By analyzing price levels, trends, and formations like cup-and-handle or bullish flags, traders can make educated guesses on future price movements.
Q: Why do I need to be cautious during bullish movements?
A: It’s essential to be cautious as significant price increases are often followed by corrections, which can trigger stop-loss orders and lead to losses.