What a day in cryptoland! Every analyst that so much as glances at cryptos has been furiously updating their charts in order to figure out the recent moves. Pullbacks were expected, and then defied. Lines of resistance fell aside, taking up the support banner in some cases.
But what next? Trading isn't a game of absolutes, except in examining the past. Each trader attempts to identify the fractal nature of market price, sentiment, various indicators, etc., in an effort to gain an edge. Yet, no matter how good they are at analysis, they're still only stacking probabilities. The market remains fickle, unpredictable and unmerciful.
This is why account management is so important. In fact, it's more important than being right. A good analyst can be correct 60% of the time and take huge losses with poor money management while a mediocre analyst could be right 30% of the time and realize huge gains due to fantastic money management.
Where do you fall? Can you accurately assess your own skills? In 2017 everyone thought they were experts. Then 2018 showed many (most?) of them that they were not. Rightly assessing your skills (or lack thereof) can be a massive part of building a good investment and trading plan. Be honest. Make a solid plan. Then be nimble and humble in examining your plan, especially if you get punched in the nose.
I have been talking for quite some that that the pipelines from Wall Street to the Crypto space is being built. I have been talking for quite some time that the Smart Money is gear up to put $2 trillion to work in the Crypto space.
The term Doctor Copper is market lingo for the copper’s ability to predict turning points in the global economy. Copper has many uses…from homes, electronics and transmission, etc., its used as a leading indicator...
Bitcoin broke above key resistance at $3,800. It’s now eyeing a very strong resistance zone between $4,000 and $4,120 (Coinbase). Daily volume remains strong at $9.9 Billion.
In Elliott Wave terms, Insolar began a wave one leading diagonal advance on November 26, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on...
On 4hr chart, consolidation doing it’s thing for the next move. Instead of a move gradual curve down consolidation like leg one, this possible leg 2 seem to be trying hard to push for the 4000 zone...
To the engaged crypto enthusiast every day is an ideas buffet. Sure, it’s a battleground of competing agendas and narratives– crypto-anarchist versus wall-street financier, Bitcoin versus Bitcoin Cash, centralized versus decentralized blockchains. Much is demanded of early crypto explorers but here’s the key point...
Lets go to the charts to see what this means for the Singapore Dollar against the US Dollar.Monthly Chart (Curve Timeframe) – Monthly demand is at 1.45550 and monthly supply is at 1.27400
Zooming out we can see that if the price of Bitcoin continues to rise, then it should meet resistance at roughly $4000, $4500 and $5250 – depending on the exchange used and the timing of the rises.
When you look at the bitcoin daily chart you see we are still firmly in the trading range of the last couple months. Price needs to establish above 4,200 before we can see any true change in the current trading theme.
As anticipated a few weeks ago already, if there is a crypto able to confirm in advance that reversal trend, undoubtedly, it must be LITECOIN.Of course, today has been one glorious day for the whole market, given that mostly all 100 first major crypto are showing positive profits but...
If you have been following crypto for the past few years you know that the assets trade exponentially. This is portrayed much better on a logarithmic time scale and will make MUCH MORE SENSE.
