Topic: Descending Triangle or Falling Wedge? - page 2. (Read 357 times)
Most times it is always a good thing to confirm a break out before moving into a market unless you just want to play with the sideways movement which can be very risky depending on where the market tend towards. For me though, I believe things at this stage can always happen rapidly and before you know it, get to see the market doing some crazy moves in any of the directions, but it is better to be safe than sorry.
Bitcoin is useless to analyze.
All forecasts are correct only in the past.
That's certainly true, but the only thing traders can do is to increase the odds of their trades being potentially profitable by analyzing the data that's presented to them in the here and now.All forecasts are correct only in the past.
It's safe to say that while technical analysis isn't going to help you consistently during your trading journey, it's still much better than blindly opening and closing positions from where you solely depend on hope.
It grants you better odds to some degree, but that's directly it. The majority of the analysis I have seen pop up here from people thinking to know what they are talking about have been wrong 9 out of 10 times.
Bitcoin is useless to analyze.
All forecasts are correct only in the past.
All forecasts are correct only in the past.
We have to wait trendline breakout to confirm bullish will started, Bitcoin already drop more than 70% and learn from the history the price since a few years , the price will be going up after this big crash. And also fundamental analysis will make the price of BTC bull run in the long term. In my prediction the price of BTC will be going up to $20K in the end of this year.
It may swing either way, but I voted for a Bullish trend. That's what I think will happen, even though some other indicators, like Ichimoku, predict a short term bearish run on the daily chart.
On the other hand, I personally would like the price to stay at the current level because I'd like to accumulate more BTC before a new bullish run.
On the other hand, I personally would like the price to stay at the current level because I'd like to accumulate more BTC before a new bullish run.
Sometimes, the best trade is no trade. Sitting on the sidelines while the market does what it does is perfectly fine.
Whether you're bullish or bearish, a chart can be made to fit your bias. Currently, I'm not making any moves in the market until I can see a more clear sense of direction.
Both charts show Bitcoin currently at a resistance level of the downward trendline. One is a Bearish Chart Pattern, the other is Bullish.
If the price drops lower, I will gladly buy more and If the price continues to rise outside of this channel and shows signs of strength, I will gladly jump on the train and ride it back up to all-time highs!
Even if I miss the exact bottom, that's perfectly fine!
I'd rather just catch the meat of the bull run than continuously trying to catch the exact bottom of the Bitcoin bounce. Once the tables turn there will be plenty of upsides to take advantage of!
Also, a suggestion for all traders, check out this free trading e-book from Eterbase, I found it quite refreshing and informative
https://www.eterbase.com/ebook/trading-guide
Whether you're bullish or bearish, a chart can be made to fit your bias. Currently, I'm not making any moves in the market until I can see a more clear sense of direction.
Both charts show Bitcoin currently at a resistance level of the downward trendline. One is a Bearish Chart Pattern, the other is Bullish.
If the price drops lower, I will gladly buy more and If the price continues to rise outside of this channel and shows signs of strength, I will gladly jump on the train and ride it back up to all-time highs!
Even if I miss the exact bottom, that's perfectly fine!
I'd rather just catch the meat of the bull run than continuously trying to catch the exact bottom of the Bitcoin bounce. Once the tables turn there will be plenty of upsides to take advantage of!
Also, a suggestion for all traders, check out this free trading e-book from Eterbase, I found it quite refreshing and informative
https://www.eterbase.com/ebook/trading-guide
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