Dear traders,
Intro: My name is Hugo, I am 24 years old and trading crypto currencies since late 2017. English is not my main language, however, I will try to explain everything brief and clear. Be aware that I am still in the learning curve. Every idea I post is not financial advice and is only meant for entertainment purposes only.
Analysis: This fractal seems almost identical. The 2 assets also come from the same industry (internet hype). At that time (visible in the chart) Amazon was really small if you compare it to today. Same basically counts for Bitcoin and other crypto currency: we are still in the infancy stage. In addition, Bitcoin reached the untested level of 16305 USD. Keeping a close eye on this one and will provide updates on how this proceeds.
Conclusion: ONLY SHORT IF YOU REALLY KNOW WHAT YOU ARE DOING. If you still are a beginner like me (dec 2017), I do not recommend shorting this as we are in the last stage of the bear market. My recommendation (and what I will be doing) is stack USD and wait for the right time to BTFD.
Goodluck,
Doctor Hugo
p.s. shout out to CryptoY0L0 for finding this epic Amazon fractal :D
Intro: My name is Hugo, I am 24 years old and trading crypto currencies since late 2017. English is not my main language, however, I will try to explain everything brief and clear. Be aware that I am still in the learning curve. Every idea I post is not financial advice and is only meant for entertainment purposes only.
Analysis: This fractal seems almost identical. The 2 assets also come from the same industry (internet hype). At that time (visible in the chart) Amazon was really small if you compare it to today. Same basically counts for Bitcoin and other crypto currency: we are still in the infancy stage. In addition, Bitcoin reached the untested level of 16305 USD. Keeping a close eye on this one and will provide updates on how this proceeds.
Conclusion: ONLY SHORT IF YOU REALLY KNOW WHAT YOU ARE DOING. If you still are a beginner like me (dec 2017), I do not recommend shorting this as we are in the last stage of the bear market. My recommendation (and what I will be doing) is stack USD and wait for the right time to BTFD.
Goodluck,
Doctor Hugo
p.s. shout out to CryptoY0L0 for finding this epic Amazon fractal :D
Comment:
FYI: I have big positions in alt coins at this moment. I only accumulate more and sell nothing. Therefore, I am not bearish but only expecting a nice dip to accumulate more.
Comment:
ATH Broke. Time to scale into alt coins
Comment:
Patience with your alt coins!
I believe alt coins move in cycles, so I disagree with people who claim alt coins are dead right now.
Nobody can predict the exact date of an alt season, however, around this time each year alt coins often accelerate.
If Bitcoin will makes a pullback right now, people will panic and capitulate their alt coins.
That's when you want to add to your bags and wait.
Goodluck!
I believe alt coins move in cycles, so I disagree with people who claim alt coins are dead right now.
Nobody can predict the exact date of an alt season, however, around this time each year alt coins often accelerate.
If Bitcoin will makes a pullback right now, people will panic and capitulate their alt coins.
That's when you want to add to your bags and wait.
Goodluck!
//UPDATE//
Break ATH and let everyone belief they are going to make it. Than final dump before the new bull run begins. I will keep providing updates.
Congrats for making it through this 3 year bear market.