Hello guys, I'm a new trader.I can't read Trade signals.So how to get Altcoin trading signals and altcoin news ?? which site/group/telegram channels best for info...??
BITCOIN RECOGNITION - Past - Present - Future1. Past: elliot waves grow
- Bitcoin's growth rate will be from late March 2017. Why do you choose this timeline? Not so far, because looking at the BTC chart in recent years, this is the time Bitcoin broke the Bollinger Band to start the first wave after a long sideways.
- Based on the BB 1W chart, we can see that the BTC is bullish with the eliot pattern. The 2 and 4 corrective waves are supported by the BB.
- The two conditions to end this bull market are when the eliot wave 5 goes through, and the price breaks the bullish pattern of the BB. These two conditions are achieved when the price of BTC to 19k, far beyond the range BB should be forced to adjust.
- For one person only trade is BTC, this stage is a very nice time to bolt BTC on USDT. But if everyone thinks so, sharks spend a lot of money to pump up BTC prices but without the bargain, will be the most losses. At this point the Altcoin guise is brought to use.
- When the BTC increased strongly and continuously for a long time, most Altcoin were bottom. After injecting BTC to the top and continue to pump Altcoin very strong, most traders are not alert enough to resist the attraction from Altcoin. In this stage, if anyone is holding the BTC will buy all Altcoin, if the USDT is willing to buy high price BTC to Altcoin for profit from the growth of Altcoin too attractive to ignore BTC is discounted, plus mind After all, the BTC should increase as much as possible. As a result, unless one buys the bottom price and chooses one of the few Altcoin x10 or higher and sells it right then it is profitable, the rest if Altcoin increases x3 and BTC from 18k to 6k then mix in USDT , when Altcoin returned to the old bottom, the official divided three properties. According to our observation, most traders fall into this case because they expect a strong Altcoin season as last year. Unfortunately, the shark's traps have been prepared for a long time
2. Current: Adjusted elliot waves
- Next I will analyze the down trend of BTC. When BB breaks the BB, the tendency to adjust the center of BB 1W is as strong as 2 waves 2 & 4 before. And obviously when the BTC price of 9k has a very strong rebound to nearly 12k. Here, BTC has a chance to finish the adjustment with the sideways condition on 9k for several months. But this opportunity quickly disappeared when the BTC fell sharply region with a series of FUB news of the financial market world. BTC penetrated the BB road and only stopped when the price hit 2W support.
- Talk about BB 1W center of the BTC, this is an extremely important line, the same EMA 160 has supported the price of BTC in 2 years never break. When this road was bad signal signal bad for BTC within 3 years back here.
Looking at the current price of the BTC, we see that Eliot's 5-wave cycle is nearing completion, and BW's 2W support continues to be a strong resistance when the BTC has tested four times but has not yet penetrated. But looking at the weakening force every time I touch this line, I personally do not think it will last long. Very strong BTC will break this support in the near future and bottom BB 1W 5k price range. When prices hit this region, there will be a strong rebound to the 10k-11k band as this is an extremely important support for the BTC price trend. If the price breaks this area, you forget about BTC and go back a few years later
3. Future: Downtrend exit conditions
- To exit Downtrend BTC is required to over 12k. It crossed the road between BB 1W and the sideways here for two months to allow enough time for BB to tighten, then BTC is eligible to start another growth cycle. If this is the case, then this is a pretty good time for Altcoin, as Dominance BTC will go down and switch to Altcoin. The story of BTC at this time will not be a few thousand or tens of thousands that the ability will be in the hundreds of thousands.
Conclusion: I do not know the price of BTC will follow the trend, only the support, resistance and conditions. Any further increase or decrease required BTC to meet these conditions. Personally, I have a lot of confidence that BTC will not stop with the 20k peak, but in the financial market, risk management is always the most important. Because usually they will lose the most pain because of their beliefs.
