With so much going on in the market today it is not safe to say that things will be the same tomorrow or even later on today. A lot of people have been liquidated based on their current positions in collateralized debt positions, stock options and even future’s perpetual contracts. Right now isn’t the time to guess what your next move is you definitely need to KNOW. The reason why is because the market is extremely unpredictable and with fear, uncertainty, and doubt people are more than likely making moves based off of media instead of their own technical analysis.
I know everybody doesn’t know how to read charts and may rely on certain sites or apps but now is the time to trust your own technical analysis or someone who is good at what they do. We personally believe that you should know how to read charts but if not we do have resources to help you get started with learning the fundamentals of TA. Times like this makes sense for you to go back and revisit your old trades in order to identify certain patterns that may be overlooked.
You can save yourself a lot of time and stress just by understanding risk management, risk tolerance, and a proper risk to reward ratio. If you can see plays happen before they actually happen then you can protect yourself but we have certain strategies to hedge the market because it’s certainly unpredictable. One of the smartest ways to pivot right now is to already have a plan for when the market returns. Stable coins or even taking a hit right now so make sure you stabilize your assets within an ecosystem that is going to sustain. HBD (Hive backed dollar) and DAI stable coin are both great storage is a value in our opinion.
NFT and Metaverse projects are also affected by the market so it’s no surprise that De-Fi will also take a hit as far as liquidity goes because of so much uncertainty with in the market. They say only the strong survive but in this situation only the strategic survive. Create you a good strategy or learn strategies from us that will prepare you for unexpected turbulence within the space. Buying the dip could be dangerous for those without an exit strategy. We will be updating you as this week continues on what is going on but pay close attention to the next few charts that we will be dropping inside of our discord.
Lets take a look at what is currently going on in the market.....
Right here on this 4HR ETH chart we got rejected at the current trend line which is a sign of another retracement. Its also bearish on the RSI currently.
Right here on this 4HR TRX chart we are starting to experience more consolidation to the downside. There is heavy consolidation within the RSI chart as well.
Right here on this Daily BTC chart the consolidation ultimately led to a heavy retracement and was even underbought on the RSI for a brief moment this week.
I'm sure you can see a synchronicity with these markets to give you an indication of the overall market. This is not financial advice. We are not financial advisors, please do your own research.