Since I'm occasionally asked how it's possible that I'm very bullish on a coin one day and very bearish the next, I'll explain it to you using $AVAX as an example.
Two days ago, there was a horizontal breakout. A very bullish pattern. As long as the coin stays above the resistance and turns it into support, it's very bullish đ
But as soon as it loses support, it becomes a failed breakout or fakeout. And that, in turn, is a very bearish pattern đ
Many new traders don't react in this situation, thinking, "Okay, it will just break out again tomorrow." Professionals, however, recognize the signal and react quickly, flipping short.
For long-term investors, reacting to short-term movements isn't important.
But for short-term traders, it's even more important to be able to switch quickly and calmly from bullish to bearish and bearish to bullish.
I hope this helps a little bit.
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