3k is my number now but it will probably change over next weeks once i have more info from the market. I dont like to predict "long term" and i always look at my next move which now is a buy order around 6k. NO ONE KNOWS WHERE IS TRUE BOTTOM, but we can use data from the market and prepare for our next move with lowest possible risk to reward ratio ! Stay safe ! Good luck all !
thanks gregloren1 great analysis, keep up the good work. do you use any indicators? if so what ones with what metrics.
ParagonVenture
⋅
@ravdadi, Yes i do, im looking at indicators to see if they are confirming what i see and feel on the market. i never go over board, VOLUME, MA, RSI, MACD in this order.
Volume - for confirmations/interest in price
MA - usually 50, for trend confirmation etc
RSI - for support/resistance levels, trend, oversold,overbought levels, divergence
MACD - very lagging indicator, dont pay attention to much to it because it indicates after shit already happened...
ShaheenFahmy
⋅
I'm also expecting 2-3k, nice analysis, keep up the good work.
Thank you gregloren1 for the insight. Could you do one for LTC?
ParagonVenture
⋅
@tlazaro1, LTC is playing by its own rules. its hard to predict LTC's next move. Weird patterns, waves, very impulsive spikes etc. is telling me to stay away. i do not trade or analyze LTC at all because of its weird behaviors. NO TRADE IS BETTER THAN A BAD TRADE. THATS WHY LTC (for me) IS NO-TRADER.