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I’ve been confusing BOS and CHOCH for way longer than I should’ve… which honestly explains a lot of my bad trades in crypto trading. Price breaks a level and instantly I’m thinking the whole market structure changed. Then Bitcoin or some altcoin reverses a few candles later and I’m just sitting there confused why the breakout looked so clean at first. Took me a while to realize BOS and CHOCH aren’t really the same thing. I used to think every structure break meant reversal. Turns out I was reacting way too fast and not really waiting to see what price was actually doing first. BOS usually feels more like continuation. If price already trending up and keeps breaking higher highs, buyers probably still got momentum. Same thing in downtrends too. Lower lows getting taken usually means sellers still active. BOS feels more like trend strength than actual reversal. CHOCH feels different tho. It’s usually the first sign something underneath price starting to shift. You’ll sometimes notice trends struggling to hold higher lows or failing to make clean highs anymore. Doesn’t always mean instant reversal… but behavior starts looking different. That’s the part I kept missing for a long time. I was treating every breakout like a signal without paying attention to liquidity, momentum, or how price behaved before the move even happened. Real chart examples made this way easier to understand. BOS setups usually look cleaner. Stronger pushes, cleaner continuation. CHOCH setups feel messier most of the time — weak bounces, hesitation, fake breakouts, liquidity grabs… like when price wicks below a low then suddenly reverses. Stuff experienced traders usually notice early. One thing I’ve been noticing too: Most beginners rush CHOCH entries because they wanna catch the exact reversal before everybody else. That impatience gets trapped a lot honestly. Now I treat CHOCH more like a warning sign… not instant confirmation. BOS tells me trend still moving. CHOCH tells me the behavior behind that trend might already be changing. 👀
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Recently, NIL$NIL experienced a very big bull run that has been followed by a match out run. A little sideways move and a large impulsive move up to a local high before it made a large drawdown and settled around the middle of the impulsive highs. The current action reflects the uncertain nature of the market with a lot of volatility, there seems to be a price floor and now that it has gone on a run, there should be some sort of equilibrium.
The essential area of support appears to be setup between $0.0640 to $0.0700 this present situation. It was a stopping place on the up walk of the line and this is now the main space of the present building. The counter play of any gains from the moves already made in this range will be of great importance to the buyers, and maybe a secondary move.
If the price is able to hold onto and rally above $0.06800 there has been an indication of a bull to bull trend that is pointing towards retesting the $0.1050 to $0.1150 resistance area of the past recent trend. But a move past the $0.06200 price point will most likely indicate that the ongoing bull market has just come to an end and that the cryptocurrency will continue to roll back toward the current consolidation of the $0.0450 - $0.0500 price point. This would dampen the bull-flavored mood which has infected the past few months.
If at the moment, as well as on the chart there is a large upper wick, it indicates that there is strong sales and high profits on the upper levels. This is the typical pattern as the move has been towards the higher levels from the May lows, however, there is no particular buy level around this area and further low pressure can be in the cards. Unfortunately, it is not a good idea to turn into the market as soon as it touches a support level and the prices have restarted the uptrend until all the indicators point towards restoring the uptrend.
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