Since my recent idea on Feb 6th (two days ago, see the related idea below), Bitcoin price has very well followed the trajectory that I suggested (see the white path), except that Elon Musk's Tesla news about buying $1.5bn of Bitcoin shot it sharply to a new ATH far faster than I expected!
For many, it maybe surprising that how such accurate prediction of future price movements could even be possible. To be honest, I should say that it is impossible to be correct all the time; but definitely, experience can increase your analysis skills and hence prediction accuracy (more than ~90% of my estimations came true, as you can see in my previous ideas). Further, you can even be a good trader if you could be just 50% of times right, as long as you could manage your risks! The importance of Risk Management is usually underestimated by new traders.
BTW, what about next path? IMHO, we should expect retests to previous resistances (/new supports), at least on $42k; and then (if not re-bounced from there) on $41k and $40k respectively.
Time is a very important subject in technical analysis. Usually, when dealing with such sharp movements in a very short time, you could expect corrections; since we are not as rich as Elon Musk to keep it moving up vertically! We could just give it more time to stabilize, and decide where it wants to go!
Good luck dears!
Your comments and likes will always be appreciated!
For many, it maybe surprising that how such accurate prediction of future price movements could even be possible. To be honest, I should say that it is impossible to be correct all the time; but definitely, experience can increase your analysis skills and hence prediction accuracy (more than ~90% of my estimations came true, as you can see in my previous ideas). Further, you can even be a good trader if you could be just 50% of times right, as long as you could manage your risks! The importance of Risk Management is usually underestimated by new traders.
BTW, what about next path? IMHO, we should expect retests to previous resistances (/new supports), at least on $42k; and then (if not re-bounced from there) on $41k and $40k respectively.
Time is a very important subject in technical analysis. Usually, when dealing with such sharp movements in a very short time, you could expect corrections; since we are not as rich as Elon Musk to keep it moving up vertically! We could just give it more time to stabilize, and decide where it wants to go!
Good luck dears!
Your comments and likes will always be appreciated!
