Think like a PRO and trade at ANY markets๐ฅ
Hi friends! Do you want to know what zones I marked on the chart? Put ๐ and read to the end.
In this educational idea I will explain a few traders secrets that will help you stay profitable in any market for the long term. Take Bitcoin as an example and you'll be surprised how often the same mistake is repeated by beginners and understand how professional traders take advantage of it.
๐But first, let's find out why the psychology of the crowd drives the market
Fortunately for professional traders, human psychology has not changed in centuries. Bubbles in financial markets now appear just as they did before the Great Depression๐ปin the early 20th century, when stocks rose by hundreds of percent in a month, and just as they did during the Tulip Fever๐ทin the 17th century, when the price of tulips really soared to the moon due to the huge demand for the flower.
๐ฉThis shows the similarity in the thoughts of people in the 17th, 20th, 21st centuries. It is these faults in human psychology that allow the patterns in trading to work and professional traders to be profitable over the long term. Just don't tell anyone about it!)
๐ Why do people tend to panic during a fall and get greedy during a rise? The fact is that our brain tends to paint wishful thinking in our imagination. When a cryptocurrency is rising, the imagination thinks that the price will rise forever, and you get excited just thinking about the possible earning. And the happiness hormones just keep surging.
The opposite is the situation with the fall. When markets fall, our brain tries to protect us from more losses and forces us to sell cryptocurrency.
๐ What help the big players to control the psychology of the crowd? Of course, it's the media. Remember when news of the US recession was at its peak and it seemed like a crisis was imminent. Just at the bottom of the market, when Bitcoin fell to 17k and the SnP500 to $361.
I may surprise you, but in 2018, 2020 people had identical thoughts and all thought Bitcoin would fall to $1000. The crypto market can fall lower to 10-12k of course, but just interesting to knowdid any of my subscribers buy cryptocurrency back then or at 17-19kโWrite in the comments./b]
๐ What are the areas on the chart? I marked 2 areas:
๐ฅThe 1st area (white) is the areawhere the majority of traders, especially newbies, want to buy cryptocurrency. I call this " Bitcoin will rise to 1 million" zone.
๐ฅThe 2nd area (green) is the area where most traders sell the cryptocurrency they bought at a higher price. Most importantly, it is where most traders believe that the fall will continue even lower and do not buy, expecting a fall. I call this "Bitcoin will fall to zero" zone.
โ How can you use the psychology of the crowd to your advantage? I can tell you from my own example that a clear strategy and working with indicators helps me. For example DOM and Footprint, where I can see huge whale orders and open a trade in the same direction as a big player. A large order is a clear signalโ , not a psychological speculation because of the news.
A few days ago I showed in one of my ideas how Bitcoin rebounded from a large whale order. Bitcoin then grow by 4-5% in just a few hours.
I also use trading systems such as Greenwich or Pump Tracker to identify Bitcoin and altcoins bottoms and ATH. You can see ideas about them on TradingView and their live resultsโ It may surprise you!
๐Summary. This knowledges are usefull for any market: crypto, stocks, ForEx, bonds etc. Human psychology and thinking are the same, but each market has its own specifics. Perhaps I will talk about this in the next educational ideas.
Friends, was the idea useful to you? Have you noticed such psychological zones? Do you agree with this idea or do you think Bitcoin will fall below 17k? Write in the comments.
๐ปFriends, press the "like"๐ button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
In this educational idea I will explain a few traders secrets that will help you stay profitable in any market for the long term. Take Bitcoin as an example and you'll be surprised how often the same mistake is repeated by beginners and understand how professional traders take advantage of it.
๐But first, let's find out why the psychology of the crowd drives the market
Fortunately for professional traders, human psychology has not changed in centuries. Bubbles in financial markets now appear just as they did before the Great Depression๐ปin the early 20th century, when stocks rose by hundreds of percent in a month, and just as they did during the Tulip Fever๐ทin the 17th century, when the price of tulips really soared to the moon due to the huge demand for the flower.
๐ฉThis shows the similarity in the thoughts of people in the 17th, 20th, 21st centuries. It is these faults in human psychology that allow the patterns in trading to work and professional traders to be profitable over the long term. Just don't tell anyone about it!)
๐ Why do people tend to panic during a fall and get greedy during a rise? The fact is that our brain tends to paint wishful thinking in our imagination. When a cryptocurrency is rising, the imagination thinks that the price will rise forever, and you get excited just thinking about the possible earning. And the happiness hormones just keep surging.
The opposite is the situation with the fall. When markets fall, our brain tries to protect us from more losses and forces us to sell cryptocurrency.
๐ What help the big players to control the psychology of the crowd? Of course, it's the media. Remember when news of the US recession was at its peak and it seemed like a crisis was imminent. Just at the bottom of the market, when Bitcoin fell to 17k and the SnP500 to $361.
I may surprise you, but in 2018, 2020 people had identical thoughts and all thought Bitcoin would fall to $1000. The crypto market can fall lower to 10-12k of course, but just interesting to knowdid any of my subscribers buy cryptocurrency back then or at 17-19kโWrite in the comments./b]
๐ What are the areas on the chart? I marked 2 areas:
๐ฅThe 1st area (white) is the areawhere the majority of traders, especially newbies, want to buy cryptocurrency. I call this " Bitcoin will rise to 1 million" zone.
๐ฅThe 2nd area (green) is the area where most traders sell the cryptocurrency they bought at a higher price. Most importantly, it is where most traders believe that the fall will continue even lower and do not buy, expecting a fall. I call this "Bitcoin will fall to zero" zone.
โ How can you use the psychology of the crowd to your advantage? I can tell you from my own example that a clear strategy and working with indicators helps me. For example DOM and Footprint, where I can see huge whale orders and open a trade in the same direction as a big player. A large order is a clear signalโ , not a psychological speculation because of the news.
A few days ago I showed in one of my ideas how Bitcoin rebounded from a large whale order. Bitcoin then grow by 4-5% in just a few hours.
I also use trading systems such as Greenwich or Pump Tracker to identify Bitcoin and altcoins bottoms and ATH. You can see ideas about them on TradingView and their live resultsโ It may surprise you!
๐Summary. This knowledges are usefull for any market: crypto, stocks, ForEx, bonds etc. Human psychology and thinking are the same, but each market has its own specifics. Perhaps I will talk about this in the next educational ideas.
Friends, was the idea useful to you? Have you noticed such psychological zones? Do you agree with this idea or do you think Bitcoin will fall below 17k? Write in the comments.
๐ปFriends, press the "like"๐ button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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๐ bit.ly/vip_bikotrading
๐ทTelegram ๐ t.me/+ICrmLIneDmRiYjIy
๐ทYouTube ๐ bit.ly/YouTube__Lessons
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