-Yurlo
#1: Price action made a higher high while the momentum oscillator has made a lower high. If 0.786 fib level (16319) is the top and we're currently consolidating under this potential resistance level the hidden bearish divergence will have been confirmed. If $15,000 breaks and flips s/r I'll be looking to add to my short positions.
#2: The current market sentiment level is 90/100 which are levels not seen since the 2018/2019 high.
#3: The market needs to make its money back somehow and during this bull market cycle exchanges will have lost $$$ and profit levels have most likely taken a massive hit. How do exchanges make their $$$ back? The trend usually reverses while everyone is euphoric and full of fomo/greed. Markets wait until this stage of market sentiment because it allows them to take advantage psychologically of traders because price action has triggered their emotions (in a good way, which blinds you from the reality of the markets)
#4: The price in 2020 has went from $4000 - $15,900. Corrections are still a very real thing even in bull markets and traders who blindly long with high leverage will get wiped out on these moves and won't get to see the significant more important moves.
Stick to your trading plan (sometimes you'll have to change the road map of that p;an but the end goal should always remain the same unless the markets have clearly invalidated your idea. Market psychology and market sentiment play a massive role in trend directions etc)
#1: Price action made a higher high while the momentum oscillator has made a lower high. If 0.786 fib level (16319) is the top and we're currently consolidating under this potential resistance level the hidden bearish divergence will have been confirmed. If $15,000 breaks and flips s/r I'll be looking to add to my short positions.
#2: The current market sentiment level is 90/100 which are levels not seen since the 2018/2019 high.
#3: The market needs to make its money back somehow and during this bull market cycle exchanges will have lost $$$ and profit levels have most likely taken a massive hit. How do exchanges make their $$$ back? The trend usually reverses while everyone is euphoric and full of fomo/greed. Markets wait until this stage of market sentiment because it allows them to take advantage psychologically of traders because price action has triggered their emotions (in a good way, which blinds you from the reality of the markets)
#4: The price in 2020 has went from $4000 - $15,900. Corrections are still a very real thing even in bull markets and traders who blindly long with high leverage will get wiped out on these moves and won't get to see the significant more important moves.
Stick to your trading plan (sometimes you'll have to change the road map of that p;an but the end goal should always remain the same unless the markets have clearly invalidated your idea. Market psychology and market sentiment play a massive role in trend directions etc)