Its been more than a month now since I posted latest video, but simply I will not update every tick by tick and tried to call any new leg if I do not have a clear view or enough price data for next prediction. Remembers, market has to breath. However, we still posted a lot of chart updates and showed the right direction. Now the question is where we go from here. Well, we definitely cannot ignore the clear that can be setting up here; an 8-wave EW cycle that can cause a bounce from current 61.8% Fib. level.
Enjoy the video!
p.s. Be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only. Please do your own research!
BTC is still very slow and we don't see five waves up yet, so it's a possibility that we could see new lows into ending diagonal for wave (5) of C towards 7k.
Do you remember a corrective wave B of a higher degree at the end of February and at the beginning of March, when BTC went almost back to highs? Same thing may happen here and that's why we want to focus on a higher timeframe analysis. Anyhow, it's not about who is right and who is wrong, the real point is to learn how to track markets and how to make right decisions when comes to trading and that's why is important to wait for confirmation levels.
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Example of Real TA to me is (that no one does):
Scenereo 1: 60% chance final price 15k
Scenereo 2: 30% chance Price=9500-11k
Scenereo 3: 10% chance price= 7-3k
Scenereo 4: 100% channce after scenereo 1 or 2
no one is an expert if u all were u would be on Wallstreet in an ivory tower in your maybach.
Market needs a direction. And if you are smart to understand the direction, then you can make money out of it. Patience is the key. And it does get difficult when you see everyone else making so much money is such a short time. It does not work like that for everyone though. I have encountered a lot of losses based on bad decisions in the past. But patience always pays out.
Always keep the fundamentals in mind as well. TA may show one thing, but it all changes when fundamentals do not support the TA. And then suddenly the TA is pointing in the opposite direction.
I would advise you to keep an eye on the overall market volume. Keep checking coinmarketcap from time to time. Take a look at the daily 'gainers/losers' section and you can see which coins you should avoid and trade. Do not invest all of the money. Experiment with very small amounts. I would advise you NOT to do margin trading on any alts, especially whilst going long, at least with not more than 30% of your money.
And do read this article. There will be people who make millions.... only to lose all of it afterwards.