Topic: Making Technical Analysis Count In Crypto - Trading (Read 396 times)
Market was lacklustre last week with many coins in red as a result of traders becoming risk-averse over PBoC declaration of ICOs as illegal fundraising. Price only managed to climb upto 0.00263045 Satoshi before reversing. Our setup is still on course, evidently the market have been ranging and would eventually breakout to at least 0.0034 Satoshi price mark before shading most of its values
Honestly it never seizes to amaze me when noob traders jump to conclusion that T. A. is useless in crypto-trading, perhaps they had better wake up from their illusions. Here's how it is going:
T.A. is never useless and whoever said it, is in fact a noob! but at the same time it is not that useful either. specially for altcoins.
you see the technical analysis can never factor in the manipulation that runs the altcoin market, it can not factor in the unpredictable stuff that happens in the world. like for example when Bitfinex was hacked last year you couldn't predict that with TA. or you couldn't predict anything when August 1st was threatening bitcoin.
i am not an expert in TA by any means but i have found that it is good as long as you use it as an outline to only get a better idea of what is most possible
At any rate T.A. are tools to assist a trader in making trading decisions, they're like your navigational aids, problems only start when a trader tries to turn them into some crystal balls.
In the first two images on Manaco, a Head N Shoulders pattern is building up in the daily time frame, that means, it is going to take some days to fully develop and in between a lot of things are possible.
After I had posted those images, a reverse Head-n-Shoulders pattern commenced in the lower time frames, which would ultimate supply the bullish move we are waiting for:
Below is original pattern formation taking shape nicely, price is expected to touch as least the red line before falling hard:
Honestly it never seizes to amaze me when noob traders jump to conclusion that T. A. is useless in crypto-trading, perhaps they had better wake up from their illusions. Here's how it is going:
T.A. is never useless and whoever said it, is in fact a noob! but at the same time it is not that useful either. specially for altcoins.
you see the technical analysis can never factor in the manipulation that runs the altcoin market, it can not factor in the unpredictable stuff that happens in the world. like for example when Bitfinex was hacked last year you couldn't predict that with TA. or you couldn't predict anything when August 1st was threatening bitcoin.
i am not an expert in TA by any means but i have found that it is good as long as you use it as an outline to only get a better idea of what is most possible
it seems the black lines are Bollinger Band and the center is moving average. what are the green lines and others? I always wanted to learn more about TA, wondering how to learn these analysis
so what lines are you looking at? don't see the point you are making, what does this T.A. factor/lines tells you for Monaco? is it similar trend as BCC?
The previous market set up was a huge because market took off our targets severally. Meanwhile focus is now shifted to Monaco - MCO, it is about to make me good money, I actually bought some two days ago, but it only just resumed the trip, can anyone see the complete picture or what's cooking?
Bitcoin Cash came into existence a little while ago with plans to eclipse Bitcoin and so they invariably brought its capitalization chasing that of Bitcoin - higher capitalization means more liquidity. I however did not bother to have anything to do with it, because it threatened our one and only Bitcoin, but while scrutinizing market setups last week - on 18/08/2017 , I spotted a Head N Shoulders pattern building up then fetched myself a seat and have been enjoying the amazing ride over and over again till this moment .
Honestly it never seizes to amaze me when noob traders jump to conclusion that T. A. is useless in crypto-trading, perhaps they had better wake up from their illusions. Here's how it is going:
Honestly it never seizes to amaze me when noob traders jump to conclusion that T. A. is useless in crypto-trading, perhaps they had better wake up from their illusions. Here's how it is going:
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