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RE: A look at the lastest trendlines - after the bear attack
Step 1 - zoom that chart out.
Step 2 - look at the volume, not the price. Volume is one of the main indicators that this isn't another false rise. Volume, the double bottom and the gradual sideways-turning-upwards movement of the chart since early April.
Step 3 - realise that it may dip again, but should remain within the bounds of those trendlines I have drawn. More dip now just means more up later. I certainly expect a few resistance levels and retracements on the way up, but I stand more firmly than ever behind my general upwards trend.
This might not be the main rise, it might just be some positive sideways movement, but I am certain that the main dip is over. Hence after the bear attack.
Don't you find it fascinating though that two people can look at the same chart and see completely different things ? That's why I love it, it's where the liquidity in the market comes from.
On your chart, you see an ascending red channel, and I see a descending blue one. And both of us could be right (or wrong !) at the same time... that's why trading is so hard.
Maybe I should do a full chart 'reading' on BTC sometime, to show you how a price action Forex trader looks at the market, it maybe a lot different to how a crypto trader would view it.
Indeed. I attribute most of that to the differences between trading and investing: i.e. short-term price movement vs long-term market movement.
I guess if we all thought the same thing then this would be a very boring game and there would be no profits to be made from one another's mistakes! (I certainly helped a few people boost their balances when I initially started trading like a lunatic!)
Very true, if everyone thought the same there would be a worldwide shortage of Lambos and the moon would be overcrowded lol :-)
I really wish I could get more into long term investing on fundamentals, but I just have itchy fingers and need to be in the game constantly. Besides, I do 'ok' at what I do now, so why spoil a good thing... ;-)
I only want one Lambo: this one.
The one of a kind Aventador J sold for $2 800 000. At his request, Lambo built another one for Shaikh Al Yahyaa (price unknown). Maybe they'll build me one for 100 Dogecoin?
If you tell them Dogecoin is heading to the moon, I don't see how they can refuse !!! :-)
Well thousands seem to believe that Dogecoin IS! I still can't believe the market cap of that self-professed shitcoin!
I bet the guys that came up with it are laughing their asses off
They laugh at their own coin, yet its appeal continues to endure. Psychology is fascinating.