Topic: ETH double top? - page 2. (Read 697 times)
As legendary member with trading experience I can claim that technical analysis works as it should in 80-90% of cases. I'll be able to confirm double bottom pattern only when the price will surpass previous local high. It will be strong bullish signal.
Each time you try to use technical analysis in crypto baby jesus cries. It's too liquid and too small, only thing that I see could be of use is Elliot wave analysis as it tries to predict how will the emotion of people involved in the market influence the price.
The utility is limited as a single whale can cause a wave all on his own.
The utility is limited as a single whale can cause a wave all on his own.
I think that the crypto market is too unconventional to be evaluated by traditional analysis, in the main
Do you understand the double bottom pattern sense? It says that there will be pump after price go further than previous high. The size of pump is equal to the difference between previous high and dip. This is not a bearish pattern. http://www.investopedia.com/terms/d/doublebottom.asp
First of all let me say that I really like ETH and like 40% of my portfolio is in ETH so this is not FUD post. Got in at last dip after sept. 15 so im still good. But I don't like chart that i have been seeing today.
For me it looks like double top... what do you guys think?
*Corrected word dep with top
For me it looks like double top... what do you guys think?
*Corrected word dep with top
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