BTC: Trend Prediction Working! Part 1
So I have come to a working chart, that so far is working, that is the reason why I have been a little off the last days on what regards to TA analysis and crypto in general.
The chart is based on some TA analysis plus a work I did together with a friend. Since he collaborated and we do not want to reveal the "secret" I will only post our "prediction" for you to follow (or not), with not much information on the analysis behind. I know is not my usual way, but if this works as we think it will, he is making us a favor at allowing me to share it with my followers.
After February longest BTC correction we have entered into a territory not seen before, we are above 10 K territory and this makes many technical analysts be reluctant in casting predictions. What I believe is that there is still plenty of room to follow a trading channel, make some buck on the uptrend, and why not, to use CFD´s for price corrections and profit on the way down.
Here is the chart
We are now entering into the Accumulation sideway channel, right after 11,6K was hit. So, considering the two lines, there will be lower highs until rebounds in around 11K, once this key support is touched, we expect it to rebound with some strength until 11,4K. (which happened in the previous hours. Right now is trying to break to sustain itself above the 11.7 K which is a tough cookie as seen in previous opportunities.
Though the graphic is not really well drawn (sorry) the main idea is that we are now in the moment after the climb from 10.8 to 11.6. we expect then a retracement to the 11K line, which will be slow and sideways, so having that in mind you could make a decent profit with short-term trading.
As long the trend is working, we will keep posting on the same Trend prediction chart. Have in mind that after the chart ends there is a continued line, which we will post later on.
I really hope this keeps working as it has been for the last two week for us, and we all can make some profit, which can be turned into some Steems
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So this TA actually work?
There is another form of analysis I read about, a couple of years ago. Fundamental Analysis. This form of analysis is based on the "traditional" tools of business accountants use all the time, and sounded more "true" to me.
But here on steemit, TA seems to be the way to go for a lot of people. Do you think is as good as it is regarded here?
For cryptos is hard to use the same parameter since as a new asset class there is little historic information to compare to. We could use other parameters, like the real economic use of currency pretenders, but unfort. it does not work due to the current high investment as speculation.
Once the market matures I expect that we will switch to a more traditional environment.
Interesting. So, is there an actual "competing" system of analysis for TA in highly speculative scenarios, like Cryptos and ICOs?
Hi! I tried to contact you guys about my blacklist. I was told since my bot @smartsteembot used your name, both my bot and my main account @monte67 were banned from smartsteem. Is there any way that I can change this? Do you guys want the bot? Also I apologize that I commented on this post, but I was still not answered on the post I originally commented on.
In general I agree, I think we are in an accumulation phase. I wouldn't be surprised to see a bump to 15k this summer though. Potentially a big spike in the winter or a long draw down until sometime last year. Historically all new highs have happened in the summer or winter while spring and autumn have been bear dominant
nice work .. dear @santana33 i sent 3 sbd at smartsteem but did not get any upvote or refund .. i knocked you before but did not get my money back yet.. 3 link i shared here . it was my own and creative work.. 3 poems ... please refund ...
https://steemit.com/writing/@desh2/6uzvgk
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Hi Desh, you have been answered on this matter. Please do not spam my posts with non-related topics.
https://steemit.com/abuse/@smartsteem/with-great-power-comes-great-responsibility#@therealwolf/re-desh2-re-smartsteem-with-great-power-comes-great-responsibility-20180302t103341802z