Always be ready to take your profits!
One of the biggest mistakes I see with crypto traders is they donโt prepare in advance to take their profits. They donโt look at the charts. They donโt look at liquidity levels.
They may see profits but not realize them. Take those dang profits and move your stop loss into the profit zone to lock gains in.
Just as fast as crypto can pumpโฆ it can dump.
Again this is scalp / short timeframe trading. Not long term DCA.
And as this trade is getting ready to take profits you have your next trade (a short) ready to play out!
One of the biggest mistakes I see with crypto traders is they donโt prepare in advance to take their profits. They donโt look at the charts. They donโt look at liquidity levels.
They may see profits but not realize them. Take those dang profits and move your stop loss into the profit zone to lock gains in.
Just as fast as crypto can pumpโฆ it can dump.
Again this is scalp / short timeframe trading. Not long term DCA.
And as this trade is getting ready to take profits you have your next trade (a short) ready to play out!
BetterCallJoel.com
Joel Peterson posted an update in the group Crypto Trading & Investing | BetterCallJoel.com
One of the biggest mistakes I see with crypto traders is they don’t prepare in advance to take their profits. They don’t look at the ch...
My read on Bitcoin right now: leaning bearish overall.
Hereโs the bigger picture Iโm watching:
Daily/weekly/monthly opens are all trading inside their value areas... no strong shift in control yet.
Multi-timeframe structure is still printing lower highs / lower lows. Downtrend intact.
Price has tapped into that $82K support cluster, which lines up with what looks like a Wave 4 zone to me. Wouldnโt surprise me to see one more leg lower... sub-$80K is still on the table.
Long ideas Iโm watching:
Around $84K sits a clean CC zone lining up with a Gartley C-point long setup.
A sweep of last weekโs low into the $79.5K daily demand would be a stronger long trigger.
Best scenario: take out the April 7th lows with a proper SFP/fakeout and reclaim... thatโs where Iโd lean heavier.
Short ideas:
Local trend is still down, and the anchored VWAP near the VAL around $91.5K is the level Iโm eyeing for short setups.
#btc #blog