Have you seen this pattern before?
It's not by any means your typical traditional TA price pattern, but it is typical here in crypto.
Two good run-ups, the first often by 10, 20 times or more, and the second a higher high followed by a second, slightly higher basing phase, and, then, the eventual rocket shot higher.
It happens all the time in crypto, and it just happened on a market wide basis.
https://coinmarketcap.com/charts/
The “rocket shot” is usually somewhere between 4 and 7 times the average price of the second basing period, and, as such, not really that much of a rocket shot . . . unless you’re thinking about the 80x or 100x that it means to the original HODLers.
That’s where the gravy is!
Until now this phenomenon has been followed by severe corrections, but we may well be approaching the day when that no longer holds true for the select who are destined to be tomorrow’s leaders and major players in the crypto space.
Have you adjusted your portfolio to meet with tomorrow's expectations?
It's so hard to know if this moon shot is just starting or near the peak. I'm watching closely now. I just exited xrp got in at 23 cent, im looking for something that hasn't been pumped so much
Kind of looks terminal to me, but it also looks a bit like a flag might be building and there might be one last leg higher to this one. It's hard to know, like you say. That's why everything I do is based primarily on a balanced portfolio: if it's balanced, I don't care which way it goes - either way is good for me. (Of course, it's currently balanced with a negative bias . . .)
@cryptographic crazy crypto patterns. This is a complete different thing compared to traditional stocks. Great you point that out.
Speaking about the full steemit guide! I really appreciate your suppport on it, thanks to you and many other people this is reaching the hands of many more people. Appreciated!
Today I posted the 2nd Chapter, which is about everything a new visitor, minnow, new user on steemit, needs to know about the wallet.
As always, your feedback to improve things and your support is greatly appreciated, to help this reach the more possible hands. Whichs aim you know is help capture and retain more people on steemit, and help them make their way, for the benefit of all.
Regards, @gold84
@cryptographic,
Wow this is very similar to BTC graph!
Very much similar pattern but at the end drop little sharper than Total Market Cap graph!
Personally I hate this Rocket Shot!
Cheers~
Pretty scary.
Have you noticed that the total market capitalization excluding Bitcoin had gone back to a new high?
https://coinmarketcap.com/charts/
Looks like the levee is breaking. https://steemit.com/bitshares/@stan/when-the-levee-breaks
Fairly new to trading myself, got a bit excited and bought too early on a few. Now i just got to wait till the price comes back. I think i made good choices, so i am not too worried. Thanks for the info, i have a lot to learn still.
If you're making good picks, you'll do fine long term. I remember looking closely at the wallet for the largest holder of DGB and noting how his or her average buy was always near tops. Looked crazy at the time, but now that particular wallet is so deep in profits, it's unbelievable. A thing of wonder. https://chainz.cryptoid.info/dgb/address.dws?1443818.htm That person is going to be very very rich someday. What am I saying? Already is! That's 144 million at today's prices and without ever taking any profits! That's guts, or a true believer, or both. Anyhow, if you're ready to sit tight for a few years, even if it were to go to zero in the meantime, you shouldn't have any problems, IMHO.
Just going to put what I can spare from my paychecks into different coins, slowing researching as many as I can. Thanks for that very nice upvote. An interesting one I found recently was Fun, online gambling already is huge.
Good morning @cryptographic and happy new year.
I noticed a similar thing albeit without charting it. We had a massive run up, not only the entire year but the last two months went bonkers. Things stopped a week+ ago and we seem to be channeling. While there was the sharp pullback last week, the market appears to have settled down...at least for now.
Is this a consolidation period leading to another run up? Did the holidays drive some to take a break and think about it after the first?
By the way, what do you mean adjust your portfolio to meet tomorrow's expectations? What are those expectations in your view?
Oh, you know, that BTS and STEEM will moon while the rest of crypto burns down, that, and not much else.
😅 😅 😅 😅
Hope you're enjoying your holidays!
It a very hard to know the stucture and the fluctuatuation of the lines uo and down it similarly looks like a bitcoin progress graph..the market has to be sattle down atleast now...thank you for sharing.. @cryptographic
Hello @cryptographic,
Extraordinary good question:
Have you adjusted your portfolio to meet with tomorrow's expectations?I think if someone decided to follow your blog from very first day, then he/she got the correct answer - YES.
Your articles provided enough advices to adjusting the portfolio to meet future expectations & etc. Extraordinary good article, that you decided to revise them.
~@mywhale
Thank you for that important feedback. Sometimes I'm not sure just how well I'm coming across.
Hello @cryptographic,
You are doing extremely well & your tips & advices are working like a charm. Happy new year.
~@mywhale
@cryptographic - Sir, once you told us how to diversify our crypto investment... I did like you told us... I hope it'll lead me to survive if something goes bad... But Sir, I also keep 30% of my investment as Metals like gold & silver... If something went too wrong, atleast it'll survive Sir... Thanks to you, I can learn lots of financial strategies, not only crypto trading, you teach us how to survive in any kind of crisis Sir... Thank you Sir...
+W+
always making the necessary changes to make it the best :)
An excellent analysis and it is clear that over the past year the price hike has become tens of times. I agree with you that at today's price, it is necessary to carefully adjust the assets and take into account all factors of growth and decline. Thank you @cryptographic and keep us informed of what's happening!