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RE: Bitcoin Price Action Analysis - Traders Buy Now
There's a lot of responsibility to say as if it's true what you are stating here.
Please, stay with speculations because you cannot predict a market that is being changed based in the emotions of millions of people around the world.
There's a big difference between this and traditional stock market.
I'm not a pro; but i like psychology and there's a higher scale range of emotions roller coasters going on in Bitcoin patterns.
Anyways; if someone wants tools for this... study Bollinger Cryptocurrency at youtube. There appears to be a pattern each time price candles touch the bollinger mark.
I never said that this is 'true'. However I do know what I am talking about. The hedge funds still have over a half TRILLION dollars to put into this market That is more than the entire market cap of ALL cryptocurrencies right now. There are ETF's emerging. Emotions do play a major role in ALL markets all the time. You need to look at the market cap of the entire crypto-currency space in relation to the sheer amounts of new money coming in from the institutional investors BY THEMSELVES...without the millions of other emotional traders.
Also, that you sent folks to a you tube channel is making my point for me. sorry. I always lace my postings with humbleness about this because I do NOT know what the future holds. If I did, I wouldn't be here, I would have won several lotteries by now and own a few islands in the south pacific.
Bollinger bands, moving average crosses, stochastics, macd....blah blah blah. Lay any over the other and they all say the same thing a slightly different way. Trading is as much art as science. Everyone sees the patterns better using their own set of tools. Neither is more right or wrong.
All that counts to me is price action and volume at this point. Fibonacci's line up with moving averages AND bollinger bands on longer time frames anyway. Just because I don't trade doesn't mean I don't know how to.