Greetings fellow traders,
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
Today's Note:
Today I will be diving in the shorter time frames and focusing on EMI 1 & 2.
EMI 2's Stoch & RSI crossing bullish, about to leave the oversold territories. Money flow is increasing and the velocity is showing a decent rise. However, it's not very significant. I want to the velocity rise above the 0 line before calling it bullish. A pull back up is reasonable. But a complete recovery is currently not certain.
It has been approximately 4 days since EMI 1 showed us a Red X on this time frame. When there is no opposite signals, most of the time this means a trend continuation. In this case it was bearish trend continuation apparently. Basically, if you're searching for a bullish trend reversal. We want to see the complete opposite. EMI 2 is also showing a possible bottoms and a bearish divergence. But I fear these are just dumb money entering the space.
It has been 12 days since the bearish reversal. Without any concrete bullish signals in this method of analyzing. To keep it short, it is difficult to stay bullish at the moment. Bitcoin has been rising its price for 60-ish days and needless to say, nothing goes up forever nor down for this matter. In my opinion, people should be careful buying/longing at this point. This is not looking like the dips, like in the last 2 months. I reckon people are taking profit or simply selling bitcoins due to certain reasons...
Fundamentally, the threat of the virus 'outbreak' that has been spreading in China, in the meantime through various parts of the world, is very real. Causing domino effects in every way, mentally, economically, (geo)politically, etc. Whatever caused this, it will have and has had an impact on a lot of Chinese bitcoin holders. I reckon a lot of these holders are indirectly or directly forced to cash out for safety, health reasons or repercussions for their families. These all costs money. Anyhow, you may have seen it already, the vaccine producers are pumping and reaching all time highs in the markets. This money flow must come from somewhere? This is why I usually don't do fundamental analysis. It's very difficult to gain the complete context on these kind of situations, which makes it very hard to make strategies. It's very unwise to make decisions when you only know parts of a context. With that having said, I did already gave a clue. "Where there is smoke, there is fire". I have yet to explain this. Unfortunately, I have to be careful spreading sensitive information like this on public platforms. Regardless of the fact that not that many people are reading my analysis. But for those who are reading this far, as a token of my appreciation. You may get to choose. This is your "blue pill, red pill" moment. You take the blue pill, everything will be the same way as it was. If you take the red pill, then I will show you how deep the rabbit hole goes. Leave a comment 'blue' or 'red'. Bare in mind, I only can offer you the truth, nothing more. In addition, I will get an idea how many people that are actually reading until the end ^_^.
To be concluded...
Tip's/FYI:
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods and/or techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. I have taken a lot of information from this community. However I believe. When you take, you should also share. After all, knowledge and experience are the most valuable things in life. This is why I share my TA. Hopefully others will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading.
If you don't want to miss out on any of my technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. If you're worthy I'll follow you back!
In case you're wondering which indicator I'm using. She's called EMI, short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
- Dashed lines; Possible forming patterns
- Solid lines; Confirmed patterns / Support or Resistance
- Dotted lines; Possible price-action trajectories / wave trend
- Lighten colors = Support | Darken colors = Resistance
Today's Note:
Today I will be diving in the shorter time frames and focusing on EMI 1 & 2.
EMI 2's Stoch & RSI crossing bullish, about to leave the oversold territories. Money flow is increasing and the velocity is showing a decent rise. However, it's not very significant. I want to the velocity rise above the 0 line before calling it bullish. A pull back up is reasonable. But a complete recovery is currently not certain.
It has been approximately 4 days since EMI 1 showed us a Red X on this time frame. When there is no opposite signals, most of the time this means a trend continuation. In this case it was bearish trend continuation apparently. Basically, if you're searching for a bullish trend reversal. We want to see the complete opposite. EMI 2 is also showing a possible bottoms and a bearish divergence. But I fear these are just dumb money entering the space.
It has been 12 days since the bearish reversal. Without any concrete bullish signals in this method of analyzing. To keep it short, it is difficult to stay bullish at the moment. Bitcoin has been rising its price for 60-ish days and needless to say, nothing goes up forever nor down for this matter. In my opinion, people should be careful buying/longing at this point. This is not looking like the dips, like in the last 2 months. I reckon people are taking profit or simply selling bitcoins due to certain reasons...
Fundamentally, the threat of the virus 'outbreak' that has been spreading in China, in the meantime through various parts of the world, is very real. Causing domino effects in every way, mentally, economically, (geo)politically, etc. Whatever caused this, it will have and has had an impact on a lot of Chinese bitcoin holders. I reckon a lot of these holders are indirectly or directly forced to cash out for safety, health reasons or repercussions for their families. These all costs money. Anyhow, you may have seen it already, the vaccine producers are pumping and reaching all time highs in the markets. This money flow must come from somewhere? This is why I usually don't do fundamental analysis. It's very difficult to gain the complete context on these kind of situations, which makes it very hard to make strategies. It's very unwise to make decisions when you only know parts of a context. With that having said, I did already gave a clue. "Where there is smoke, there is fire". I have yet to explain this. Unfortunately, I have to be careful spreading sensitive information like this on public platforms. Regardless of the fact that not that many people are reading my analysis. But for those who are reading this far, as a token of my appreciation. You may get to choose. This is your "blue pill, red pill" moment. You take the blue pill, everything will be the same way as it was. If you take the red pill, then I will show you how deep the rabbit hole goes. Leave a comment 'blue' or 'red'. Bare in mind, I only can offer you the truth, nothing more. In addition, I will get an idea how many people that are actually reading until the end ^_^.
To be concluded...
Tip's/FYI:
- People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial. Psychology? When you observe a chart. Ask yourself who's the most in pain? Bears or Bulls?
- Watch & learn from experienced traders and discover your style of TA. Hence develop this, imitating will only get you as far.
- The most accurate trend indicator when using logarithmic, are the; Relative-, Exponential-, Weighted-, Simple- and regular Moving Averages. At least use Heikin Ashi candles if you don't like MA's and vice versa or using both might be even better. The algorithms of these indicators adepts to logarithmic variables visually. Linear tools and pattern formations obviously do not for that matter. Since it doesn't concern logarithmic variables.
- The trend is your friend!
- Pattern Formations is the most accurate method, when it comes to observing the behavior of buyers and sellers. If you don't understand this, don't be lazy and google. Learn this as basics, pattern formations are ideal to combine with other methods.
- Why I use the body instead of wicks when drawing patterns? Because I like to(and you should also) switch up between lines and candles and I hate to constantly change the properties... If you're an experienced analyst, you'll know this is a pain in the a... Nevertheless crucial. Figuring this out and looking at the charts with different perspectives, will give you more confidence finding the possible trends regardless of the method.
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods and/or techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. I have taken a lot of information from this community. However I believe. When you take, you should also share. After all, knowledge and experience are the most valuable things in life. This is why I share my TA. Hopefully others will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading.
If you don't want to miss out on any of my technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. If you're worthy I'll follow you back!
In case you're wondering which indicator I'm using. She's called EMI, short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!
