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RE: Bitcoin bulls preparing for a push higher
Yes Mate, that´s exactly what I´m thinking. I think if it´s getting less volatile over time technical analysis will work very well. But the whole market is unpredictable!
Technical analysis actually works incredibly well in crypto, crypto charting and trading is miles easier than forex.
Hey Bulleth -- where's a good place to start learning TA?
Hey mate, I learned everything a long the way from various sources. I started my journey at DailyFX, but can't recommend or warn against - they are owned by a market maker who profits off client losses, but I think most stuff they teach is pretty sound. Forex forums like Baby Pips and Forex Factory are another good bet. I've actually been getting a few requests like this lately, and would like to be able to help more - considering starting a charting education series of posts. Will give you a shout if I do.
Especially in a bull market, nearly all of the coins have the same pattern. And I can tell you it does not matter if the pattern is showing a bull flag and news or regulations are coming out. Well, I believe you that you can make some money out of it, but the big money you´re never going to make because it´s unpredictable. Let´s assume that some random coin will be added to a big exchange... it will have a big runup immediately it doesn´t matter what your pattern is showing. And there is news every day in crypto, and that´s where the big money is made. At least for small investors. I mean if you are trading with billions of dollars and your friends are doing the same, just set up some bots and you can predict the market that´s sure, but not because your analysis is working but it´s because you are having control over it...