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BTC chart from the premium channel shared on Saturday predicting resistance at $11,800 (as seen) followed by a decline which would lead to my buy orders filling at $9,900 (FILLED) and $8,200. These buy orders correlate with ‘daily chart’ MAs (moving average). Buying dips at daily MAs was my plan throughout BTC’s run. Entering any new long or short positions was a pure gamble - I knew this, yet to many lacking in foresight I was wrong because I did not act immediately. Now, with a 50% BTC discount, my patience pays off.
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Confusing gambling with trading is always a mistake. It seems everyone on Instagram and Twitter ran out of patience at once and became a team of speculators, populated with traders who shoot from long to short, coin to coin, like grasshoppers whizzing around in a field.
People now believe that the test of a trade technique is simply whether it worked. If they beat the market over any period, no matter how dangerous or dumb their tactics, people boast that they were “right”. But the intelligent trader has no interest in being temporarily right. To reach long-term financial goals, you must be sustainable and reliably right. To see temporarily high returns doesn’t prove anything. Imagine that two places are 130 miles apart. If I observe the 65-mph speed limit, I can drive that distance in two hours. But if I drive 130 mph, I can get there in one hour. If I do this and survive, am I right?
I saw so many influencers long on BTC boasting profits. In reality, they were only "right" for a moment. After a 50% correction they go quiet because I assure you, they were liquidated.
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This week I will be posting an update on my trading account created January 1st with real money to prove the sort of returns that can be made. Today it stands at €22,000 profit.
I wanted to make this quick post. Don’t underestimate the importance of volume. Save this to your collection on instagram, screenshot it, tag your friends. Just keep this in mind because this holds true in any market. #ethereum #bitcoin #bitcoinprice #bitcoinnews #cointelegraph #trading #future #decentralized #digital #monero #ripple #xrp #cryptonews #bitcoinvalue #cryptoanalysis #cryptomarket #litecoin #neo #omg #iota #cryptosaints #technichalanalysis #ETF #BitcoinETF #institutionalmoney #bnb #binance #huobi
I don't know any news about #Bitcoin, but 3⃣️ month ago I've predicted for all of you this Wave Up. Trader needs to be patient. Original post is easy to find in my IG or see my Story
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❓How many pips in this move? How do you calculate it?
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If this post reaches 1K likes end of day, I'll make a video "How to catch such moves in future"
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For everyday Elliott Wave Analysis - use link in my Profile @elliottwavecount ⠀
#elliottwave #waveanalysis #Cryptoanalysis
When Bitcoin could enter a Bull Market?
This is just a possible scenario that we also think is most likely to happen.
Here is a great price analysis of Bitcoin's chart from Alessio Rastani's YouTube channel.
Follow us @crypsimple_com if you want to learn more about Cryptocurrencies, Blockchain Technology and Bitcoin
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How is the US market? A question I often get and one that should concern you all.
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The US stock market is now exactly where it was a few months ago while still in the biggest bull market ever recorded (2008 – current). While the bull market could very well continue, the long-term risk:reward no longer favors bulls. The market’s biggest long-term problem is that regardless of fundamentals as the economy reaches “as good as it gets” and stops improving, the long-term risk is to the downside. Past a certain point, risk:reward is more important than the stock market’s most probable long-term direction. To still give my opinion, the medium-term direction (i.e. next 3-6 months) is neutral. Some market studies are medium-term bullish while others are medium-term bearish. Paul Tudor Jones (hedge fund titan worth $4.5 billion) said in an interview he expects 2019 to finish either “10% up or down”. While he didn’t mention a direction he supports the premise for another year of high volatility and uncertainty.
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The yield curve is close to being inverted and causing concern. This is widely acknowledged indicator which indicated the last 3 recessions. An inverted yield curve is an interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the same credit quality. This type of yield curve is the rarest of the three main curve types and tells us people are in demand of long-term debt instruments/investments out of fear of a recession in the short-term.
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The bottom line is with heightened international feuds like Brexit and the US/China trade war the chance of trouble is high. However, the stock market demonstrates a clear bull bias since it came into existence. Absent significant macroeconomic deterioration, it’s very hard for the stock market to keep going down. For this reason, see these significant dips always as buying opportunities. Have a good day.
I am often asked what I feel the best possible outcome for cryptocurrency is. It is a question that can be answered many ways but what has always captured my attention the most is Satoshi’s and the idea of a global currency or digital store of value.
Conventual currency has led to the collapse of almost every economy that has tried to institute a fiat currency to trade for goods and services. Roman denarius, France’s livres, German marks, the list goes on. Such an outcome for the USD, EURO or GBP can be hard to imagine but it was no different in the past. It cannot be seen till it is already here. I do not try and argue that BTC can beat the current banking system because until the music stops the current banking system is unstoppable. It is like a snowball rolling down a steep hill picking up more and more debt as it moves. We may not see the failure of the world’s fiat systems happen tomorrow but there is special fear that can be felt when imagining when it does. One thing is for sure, when people are left with a worthless currency desperately in search of a method of transferring some sort of value to one another, BTC will be there.
A time of maximum profitability and maximum opportunity is around the corner.
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I am starting to see evidence that most sellers have left the market and it is time to begin planning an entry. I will give you honesty you may not hear elsewhere, attempting to renter at the perfect bottom will never happen. For example, BTC has already seen 3 prices which the collective community on Twitter and elsewhere called the “bottom” before being proven wrong just days later. Instead we plan and prepare for the good or bad outcome. This is what any intelligent investor would do, and it applies to any coin or company. If I have no plan and price goes against my expectation’s my emotions run high and the chance of a mistake increases. When I have a plan in place and I am prepared for the possibility of price going the wrong direction I will already know what I am going to do and why. I never try to beat the market, I know I am not smarter than it. Instead, I adapt to it.
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There are different ways to safely enter a market and none of them require an $800 video course I see insta-traders selling. You can learn one by simply reading this post. DCA (dollar cost averaging) is a hugely popular way of entering a position which ignores the volatility of price. To DCA, you buy a fixed dollar amount of the coin/company (BTC in this case) on a regular schedule regardless of the price. Over time, some purchases will end up being for a higher price and some will end up being for a lower price. The point is the risk is spread out over multiple entries. To really make use of DCA you can add a hint of timing, which is why I am posting this today. BTC is now over 400 days in decline and roughly at the same amount of time seen in previous BTC bear cycles. A great time to start DCA. We can also look at the market cycle which tells us the low volatility we are seeing this late in the cycle is normal, and the worst outcome now is slow decline or more sideways movement. In both cases DCA will outperform almost any other position as it catches the highs and lows.
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Hope you found this knowledge useful.
L.Wang, LOC.