I have been studying technical analysis from several professional and semi-professional traders for a few months now. Formerly I had studied forex technical analysis. Now I have been trading cryptocurenies full time for the last few moths as well. And learning during a downtrend is a difficult but necessary time to learn to trade.
However, I feel comfortable with my method of trading. I use a combination of chart patterns, volume, candle sticks and Eliott Wave TA. All of which I am continually learning.
My method uses buying the dips in anticipation of upcoming pullbacks and laddering in buys. And then selling near the top of Eliott Wave cycles.
I trade BTC and ETH to the Dollar on Gemini and I also trade more than a dozen other cryptocurrencies on Bittrex and Binance primarily.
Since this is my first TA on Steemit I will give a very brief TA for BTC.
I believe we have completed the corrective A wave over night and are in the process of completing the B corrective wave.
B wave target is approximately $9,595.
C wave projected target is between the 0.5 fib ($8,190) and 0.65 fib ($7,650) retracement.
Disclaimer: This is my personal technical analysis. You should not trade cryptocurrencies without taking full responsibility for your own decisions. I will NOT be responsible for any loses you may have incurred based on my TA. Responsible money allocation is key to not gambling all your investments on one or a few trades. I am now a professional trader but am still learning the hard knocks and realities of swing trading full time. I take responsibility from my own decisions, so should you.
