First and foremost!
Every analysis shared on "semtroneum" is no financial advice and every trading decision you make is at your own risk.
I was just surfing around the web about trading ideas when all of sudden i came across a very accurate analysis. Usually i wouldn't really look at other people's ideas, but since i got into Steem a little more i haven't really got the time to do my own TA. That however does not mean i am not up to date on the BTC market and today just happens to be the day i come across this image!
What i like so much about this analysis is that it's very simple and straight to the point. And maybe even more important it seems to be that the situation we are in right now is very similar to what we have seen back in June. Now this does not mean we are heading towards new lows, but the likelihood of it happening is in my opinion still higher than new highs.
If there is one thing i have learned about crypto trading or any other market it's bull and bear traps. What do they mean? It means whales squeeze out your long or short position by hitting your stop loss.
TIP: can be solved by trading with lower funds and with a less tight stop loss
Now look at BTC rigth now!
Conclusion of this analysis
I don't say this will turn out in lots of bearish momentum, but i would just like to say that, simplicity is key in trading. And according to these simple indicators i feel like it's not only a probability, but also very likely to happen.
Best regards,
Sem
