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RE: Bitcoin bulls preparing for a push higher
Well Bitcoin is not easy to predict and I don't think you will get any good results by doing mathematical analysis and curves and such other stuff, the market is volatile because there are so many actors at play, some want the price to go higher, then governments regulate, other guys (whales) sell, billionaires invest etc and there are even some who use the media to bad mouth it. I thing one has to go by gut feeling because just when you think you have it down pat some external event just disrupts any trend the coin has.
As it is good for anyone involved in the CRypto world, all I can hope is it will go up steadily.
Thanks for your thoughts, I and many others do this successfully for a living.
The forex market has all that, is degrees of magnitude larger and is less volatile ... go figure
Probably about the only thing sensical you've said - intuition is arguably what separates good traders from the mediocre.
In conclusion, thanks for your 2 cents, but you obviously lack the qualifications and experience necessary to discuss this topic with even a smidgen of authority, let alone question the methodology of a professional. I have to wonder if you also try to teach mechanics how to fix cars, architects how to design buildings, dentists how to perform root canal etc etc
No, but I do think traders aren't that reliable, if they were they would already be millionaires and wouldn't need to be trying out cryptos. This is not a profession it is hit or miss.
Yes Mate, that´s exactly what I´m thinking. I think if it´s getting less volatile over time technical analysis will work very well. But the whole market is unpredictable!
Technical analysis actually works incredibly well in crypto, crypto charting and trading is miles easier than forex.
Hey Bulleth -- where's a good place to start learning TA?
Hey mate, I learned everything a long the way from various sources. I started my journey at DailyFX, but can't recommend or warn against - they are owned by a market maker who profits off client losses, but I think most stuff they teach is pretty sound. Forex forums like Baby Pips and Forex Factory are another good bet. I've actually been getting a few requests like this lately, and would like to be able to help more - considering starting a charting education series of posts. Will give you a shout if I do.
Especially in a bull market, nearly all of the coins have the same pattern. And I can tell you it does not matter if the pattern is showing a bull flag and news or regulations are coming out. Well, I believe you that you can make some money out of it, but the big money you´re never going to make because it´s unpredictable. Let´s assume that some random coin will be added to a big exchange... it will have a big runup immediately it doesn´t matter what your pattern is showing. And there is news every day in crypto, and that´s where the big money is made. At least for small investors. I mean if you are trading with billions of dollars and your friends are doing the same, just set up some bots and you can predict the market that´s sure, but not because your analysis is working but it´s because you are having control over it...