All right ladies & gentlemen (yes I just assumed your gender) I’ll make today’s publication nice and easy and simple yet informative as I’ve been getting a lot of demands / requests for more publications, I apologize that I haven’t been able to do as many as frequently as I’d like to.
Not going to make any excuses, the simple truth remains that I’ve started these publications with the intent of distinguishing myself as the trader that includes opeds, tips, historical trends, etc.. and not just telling you what to do (where to buy, sell, how much and all) so with that being said allow me to contradict myself immediately after this statement by explaining this technical analysis with one simple sentence;
After some sideways priceaction, an influx of volume building was in confirmations coupled with the C&H makes it an obvious choice for forex traders looking to short:
TP SHORT @ $11.4 (green horizontal)
Stop @ red horizontal * Timeframe: 40-72 hrs
With that being said, have a wonderful evening!.
* DISCLAIMER: Please invest wisely. This is a highly volatile market, even during bullish trading volume; parabolic or not I’ll put it as one legendary institutional investor known commonly in the word of finance as “the bond king” who stared: “cryptocurrencies are just speculative and interesting enough to invest no more then 1% of your net worth! I disagree, but that’s the point of this disclaimer; for me to remind you guys & gals not to be like me in hedging more than 25% your net worth in crypto alone and another 25% divided up in high risk / high reward portfolios as well as an additional 20% of your net worth in other investments(stocks equities bonds etc.) but I digress.
Safe trading everyone !! Set that stop loss non matter what! Don’t be greedy and FOMO/FUD!!
We hit the .5 fib on BTC chart —-pivot/retest... again soon.
We are still right on top of the 50 MA right now.
#volume is $14.8 est. BILION. #Bitcoin dominance; currently @ 71.5%— soon this parabolic bullish phase ends && #altseason will follow.
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Comment below says it all...
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Wrong about the higher high; though a retrace to TP above is looking like a real definite possibility as we await volume confirmation for buildup and imho we’ll pivot then go sideways again after we reach $10,478...this is the likely scenario.
disclaimer*** OPERATIVE WORD BEING: “imho”
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TARGET RETRACE B4 PIVOT: 10.2K [/B]
IT happens man. C'est La Vie. No trader is EVER right 100% of the time. Primary reason why I put DISCLAIMER on EVERY PUBLICATION. On every entry; it's the last thing I do before commenting on forex signals. TO remind you that this is NOT financial advise -- which is a given; blanketed statemnt towards ALL my technical analysis. While the same could be said of disclaimers; unfortunately it's just not the case...people need to be reminded, and there's a lot of new traders who aren't cognizant to the obvious: that these are speculative and educational guesses based on historical trends, trial & error, experience, and many other factors but at the end of the day we can't predict the anomalies.
The things that are beyond our control that have the biggest impact on the market; as I've been doing this for almost 6 years now, I can tell you with sincerity the BIGGEST ANOMALY we have that impacts the global marketcap overall priceaction, moreso than anything else, is OTC trading....an oped I need to write as it is seriously the most overlooked yet quintessential indicator in factoring in why sudden booms & busts occur. Sure you can follow the status quo; develop a formula based on the everyday trader's mentality & establish a baseline to that effect. That's what I've basically done in my strategy, aftearll...and it works about 85-90% of the time. But what do you do when two whales are pounding shots of vodka at a bar in Panama & decide to "deposit" their money another way? When a hacker strikes a "secure" paltform & steals hundreds of BTC? I'm going to guess you weren't around for MT. GOX.
Well, fortunately neither was I; yet I've heard the horror stories..and I've had my share of nightmares in 2016/2017.Of all things that can't be foreseen yet impact the market cap/overall volume & price action / supply would be (in this order) these five anomalies that...again.. CANNOT BE PREVENTED! HENCE DUBBED "ANOMLIES"!:
1) OTC Trading - without question...
2) Whale Dumps; groups of traders, much like hedge funds/brokerage firms (except started out as a group of 18-22 y/o kids circa 2010 & prolly met each other on 4chan, take turns fucking with the market as individually they don't have the power to do so yet collectively they can really swing the market. We saw this a lot with the pump & dumpers on the shitcoins in 2016/17. This is to this day the reason why I avoid lower market cap coins; unless the whitepaper is solid. Though this is less of a problem with BTC, you get a few whales who have about 1000 BTC each decide to short the market all at once and you've got yourself a problem...
3) Shorts! - No different than whale dumps except with the average trader, times 10000. A dominoe effect ensues when one minnow decides to sell and all of a sudden a ripple effect spirals into a twitter mob and before you know it, the price is out of control ...for no reason at all. This sounds a bit preposterous, right? No. The fact of the matter is; BTC is only ...
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3) ...worth what the community thinks its worth. It has no store of value. It's only at 10.2k because people are willing to pay for it at that price. Other than that, it's just pixels on a screen.
4) FOMO: PURE greed. No other explanation. When a trader sees a giant green wick & impulsively buys because he can't wait for a bounce/conslidation -- or has no idea it's coming. This is what causes irrational irregularities in the market's priceaction.
5) FUD : FEAR UNCERTAINTY DOUBT. The opposite of FOMO; when someone sees a huge selloff and panic sells without thinking logically..almost intuitively, this is the stupidest thing you can do and a common mistake among new traders.
Expect us to climb to 10.4k now before pivoting. I've put enuf disclaimers so I'll assume I don't need to put one here.
Good job! You really know what you're talking about lol. :)
a1mtarabichi
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@snowyblizzard12, It happens man. No traders right 100% of the time. This is why I put disclaimers and always encourage people to set a stop loss on every single entry. Forex trading is like educated gambling...as long as you are right more than you’re wrong, you cant account A whale decides the dump for anomalies...A whale decides the dump. Market can’t break resistance. Market FUDs due to a Political social or economic crisis.
The key is to come out ahead as long as you’re right more than you’re wrong than ull always be profiting you always be profiting. I can tell you been facetious but if you look at any of my other publications about nine out of 10 are correct...and not just on the time frames; the figures as well.
It’s funny How you’d on the right calls but on the wrong ones , there’s always that one a$$ who has to rub salt in the wound.
In this case I would say that given the time frame it’s major trading peak hours over in HK/Eastern and Southwest asia. My guess would have to be in the CCP and that they’re cracking down harder on regulation/DEXes so They can have more money for their struggling economy + GDP, After having that or steer since 1992.
But I appreciate the Disingenuous and sarcastic remark it’s nice to know there’s always that one guy waiting for you to slip and fall so he can watch you Tumble in life rather than help you up.
P.S. I keep it real man. I never delete my signals that are off a lot of traders do so that they make themselves seem right all the time and if somebody is right all the time that means somethings up and I wouldn’t trust their TA anyway. So if you can’t respect the fact that I put a lengthy disclaimer on every single publication with A mitigated stop loss then atleast respect the fact That I take responsibility for my calls, good or bad. And while you’re at it why don’t you take a look at my other publications like I said I implore you to see I don’t have that many probably a dozen or so there’s a whole bunch more on my Twitter and I can’t tell you the exact number but I will guarantee at least 85%-90-% of them are spot on and if that’s not good enough for you then don’t read! There’s 1 million other people here with their own publications and even the most viewed/followed Traders get it wrong all the time and they’ll be the first to tell you that.
I’ve been doing this for almost 6 years, this is how the game is played. If you don’t like it then don’t play; But definitely don’t bitch about technical analysis especially the fact that you didn’t make it yourself because until you do better you have absolutely no right to talk shit. That’s what I thought...
a1mtarabichi
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Grammar*****
Need to stop using Siri voice command.
Dumb AI repeats herself and makes all these l grammatical errors