Strategic entry points and bullish projections for Cronos
Attention to the bullish channel that Cronos is forming.
The price is currently where the resistance and the base of the bearish channel converge, so it should soon bounce upwards.
Most traders, fearing they will miss out on profits, tend to buy at the highest point of an upward move (which is why they believe the market is manipulated, as the price starts to drop right after they buy).
The correct way to buy is after a pullback, not after a rise. This way, we buy at a lower price and the drop will have less range, protecting our stop loss.
To conclude, the bullish projection for Cronos is initially around 46.00.
The price is currently where the resistance and the base of the bearish channel converge, so it should soon bounce upwards.
Most traders, fearing they will miss out on profits, tend to buy at the highest point of an upward move (which is why they believe the market is manipulated, as the price starts to drop right after they buy).
The correct way to buy is after a pullback, not after a rise. This way, we buy at a lower price and the drop will have less range, protecting our stop loss.
To conclude, the bullish projection for Cronos is initially around 46.00.
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