Crypto Total Market " As Above , so Below "

21 May 2021TOTAL

https://www.tradingview.com/chart/3QRjBbh7/


Greetings All

The big crypto dip has potentially provided a future trading Channel. As the Alchemists once said " As Above , So Below " possibly not a coincidence that price bottomed equidistant when comparing the top channel to the bottom one. As the bottom channel is unvalidated for now we shall see if price pays respect to any of the lines be it Median , Quartile, Upper or Lower Parallels ...no doubt will take a few days or weeks even to see how it plays out.

The Initial Channel was invaluable for swing trading a basket of spot cryptos , buying in the blue zone and further scaling in with positive sentiment when in the middle ( white zone ) and unloading most in the red zone.

What tends to happen however are that many will FOMO and buy in the red zone ( Greed ) rather than buy in the blue zone ( Fear ) .

Sooner or later the Channel will break to the downside and that's an indication to get out. The break below occurred during the Asian session which provided ample time to move to your chosen stable coin prior to the massive sell off in the late European / early US session.


Cheerio

FXcrypto

-Disclaimer: Past Performance is not indicative of future results. This is not a recommendation to buy and sell. For Educational Purposes only , Theoretical predictions to test on paper trading and adapt your own style. Do your own research.