GOLEM (GNT) Analysis: Uptrend is Confirmed for Now
SUMMARY
Over two weeks ago, the below chart was posted for Golem (GNT/USD). Many often ask why I trade or analyze primarily to the USD pair and not the /BTC pair. First, I trade to the /USD pair at daily or higher degree of trend. In other words, no in/out day trading. Second, the /USD pair has only a single variable, the change in demand for the coin. Third, the /BTC pair has two variables; the demand for the coin and the rate of BTC price change. This is why during an uptrend, the /BTC pairs often lag the /USD pair. Many who trade in /BTC pair have an objective of gaining as much BTC possible. However, perhaps more can be gained by using the /USD pair mechanism.
The below chart had given indications for a breakout from the downward pointing wedge. The initial impulse had een drawn.
The wedge has broken upwards and the breach is established. The impulse waves upward have been modified to incorporate the wave 1 reference.
The longer term, "Forest" count is shown and however one's prior entry price migh have been; what matter does it make? HODL allows time to remove all the vestiges of "poor" price entries to still become profitable. So, if one had bought GNT at the peaky peak of blue wave 1; what matter would it make in due time, when price reaches wave 5? NONE!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
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They're all related to Papa-Bitcoin. As BTC goes, so will the Alts.
@haejin Intresring point when you use the US dollar pairing. Everyone wants more btc at the end of of the day so usually a more popular pair.
i appreciate you
Thanks @haejin for this post.
@thetruth36 Some people do not really understand the advantage of the USD pairing. It is majorly better because of fluncutions in BTC prices and demands. USD is more stable and it only seem very reasonable when paired against other altcoins
@thetruth36 you can make trades as per the USD chart into the BTC market. The point of the @haejin is that when bitcoin value is increasing but the coin $ value is not increasing then in chart you might see a downfall of the coin.
I cannot explain this whole concept of considering USD value while buying a coin. But if you notice in this current market then you will see a clear difference.
Just to sum up "Buy on BTC market but keep track of USD value of purchase"
Please stop self-voting. Instead, downvote haejin.
Thanks great stuff your the man!
Your on a run today..
What does that mean? He generally posts several times per day, usually three posts per day for Bitcoin, and then several other posts for other coins he has been following for months. Not sure what the context is for your comment.
WE ARE THE RESISTANCE!
You are bullied by @grumpycat on your post.
We are resisting this.
Check this link,spread the word and join us if you would agree.
https://steemit.com/the-resistance/@the-resistance/we-declare-resistance
@GrumpyCat, to your tyranny WE-RESIST
The Resistance
Discord: https://discord.gg/qMWCbWR
just annoying...thank goodness we can mute the "resistance"
Really?
Be fair @twernli...then you will see what is more annoying.
You are kindly invited to our discord and we can express ourselves better to you.
@the-resistance
Another dumbass @mornevd, probably a bot. And... muted.
@haejin im bless reading your article because i habe learn a lot about it.Thanks for it.😇😇😇voted done
Spammy comment from a hacker previously here. Apologies
thanks for sharing very usefull information
@samiahmedshah
I guess you haven't heard of http://coinmetro.info Price projections: https://xcmprice.com
etc..
You're not going to get an upvote. Just downvote haejin and post interesting comments. It's really the only way to succeed.