BTC 20 hours after I posted yesterday..
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Price action should be forming a triangle at this point. Chart no 2. Outlines the triangle forming a 'd' wave, which means there should be a test on the upper band of the triangle, a short pullback before the long awaited break about 3000.
Capitalize on a BUY position now with stoploss below the orange '3' at 2450. If it breaks that line we can expect a lower low, which in that can may invalidate out long position. Otherwise, we are going long.
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Dear steemians,
For my steemians that are new here, I chart and update possible scenarios. Anyone telling you they can chart once and that will happen definetely, you have to link me to him/her. Over the years, charts to me are constantly updated as price action forms new scenarios etc, if you are trading on my chart and expecting guarantees, you will be disappointed for sure. "Triangle formed yesterday cound most definetely become a rectangle today" But I will always point out the highest probability scenario to you.
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Hey - I've been mostly offline last week, but am back and eager to talk some charting again!
What timeframe are you thinking for the pullback? (It's hard for me to see from your pics - are they daily charts? Hourly?)
What do you think the correlation between ETH and BTC is? They seem to my eyes to move quite a bit together, but of course not always.
Do you follow other cryptos as well? What ones do you focus on?
Let's keep the convo going! :)
I am using 240min, H4 timeframe! The 'c' at the moment has been invalidated. But a triangle has been formed.
At the moment i still mainly do forex, there are too many crypto's for me to understand all. I don't bet on cryptos that I micro cents, but I know some people do. To me those are just bets in something that hasn't reach a level of maturity, but there are ways to do that too, putting a few hundreds in a lot of those.
Thanks for the info! I've been watching the pullback all day today and have been picking up bits here and there. I'm waiting for support to be established before jumping back in full force.
Nice information follow u gollow m
Thanks @amazonpricecheck for finding me and leading me here to you. I'm following you now and look forward to reading your market analysis' and learning more about Fibonacci applied to markets.
Thanks a lot buddy! You can always see my charts! Feel free to ask any questions! I have quite a bit of time now adays! If you need me to analyse any currency, cryptos, stocks I can do it for you too! Enjoy analysing a lot!
@amazonpricecheck, Well I have been trying to research Verge (XVG) lately.
I did a post about it asked the community for feedback and mentioned the YouTube video is saw that had one of the developers of Verge. I was quite impressed with their privacy focus.
I didn't really generate any discussion via my post however, unfortunately. Have you looked at XVG? It's very cheap still to buy.
Hello @freeinthought I haven't heard of Verge my friend. There are too many and I only look at those that have reached a certain level of maturity. I tried pulling up a chart on my platform, but XVG has not been supported by my platform.
In my opinion, there are a lot of crypos at a 'cheap' level to buy and those are just bets to me.
But of course, there are strategies you can use if you prefer to do it that way.
There are never right of wrongs, as long as you can make money!
Have a nice day!