Hi folks, just want to leave my modest prediction for what I think is going to happen the next two days in the cryptocurrency market.
My analysis is usually pretty straight forward with simple concepts, those are the easiest to predict.
I do use technical analysis to get an idea of a good entry or exit point, but overall it is not the optimal way to predict anything. Does it work for trading? Yes, but that depends alot on the risk management you adopt. Well, alot can be said about all this, I digress.
I will post my future technical analysis charts. But for now let's stick with this "tip" let's call it that.
Prediction (trading idea)
Technical analysis is not what makes the price go up or down, as you know it's all about supply and demand, and the big players take a major role in this.
We are reaching the end of the year, and the cryptocurrency market has shown some signs of slowing down, after that insane bull run, except for XRP, I know. I believe even XRP will make a correction in the next two days, due to the New Year's festivities. Big traders are going to pull their money out of the market till Tuesday, most likely. They might be doing it right now, or they might do it tomorrow night. I don't think many people will be putting their money in cryptocurrency during the dawn of January 1st 馃檪 or in the morning...or even afternoon. As a result prices will go down. Tuesday we will see a recovery in all cryptos again.
This is not financial advice, you do whatever you wanna do, this is just my prediction.
I must say also, that the "big money" that came in,during the bull run, to cryptos like Iota, Cardano, etc putting this coins in a much higher price, is not going to leave completly. This are long term investments or trades, still waiting a return. Have this in mind when making your own price predictions.
Hodl on tight.
As I said simple ideas, nothing too fancy. 馃槑
If I'm wrong, then it's because traders are evil, ruthless, greedy people that don't care about New Year's Eve, and getting drunk...Well I do think they are all that, but I also do believe they want to get drunk.