MrRenev
Education

I have to post this apparently...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Not that it will make a difference with 90% people...
At least it gives me some practice. Always good.

No point for me writting a large textwall explaining everything simply, those that need this do not read it or understand it anyway.

I am not a trend expert. I am not a trend trader. I find it simpler to find reversal points at support at the end of corrections and typically miss the meat of the moves.
Some people do this, most (successful) follow the trend, whatever works for you is good. What you have ease doing.
But I think I am qualified enough to explain what a trend is. Plus I study them all the time to try and figure out where the pullback ends.

Let me make a few drawings a 5 years old can understand:



Now, let me take this 1 step up, making it a little harder, but still with a simple drawing even the people raging at me can understand.



Now, I will make it slightly harder once again.



Let's take it one step further. If anyone is having difficulties, start back at point 1.



Now, to the next lesson, lets combine the 2:



Putting it all together:


There are exceptions:




Some practical exercises:





Are you biased? Or are you not?

Trends are easy, corrections are hard.
Only 1 type of trend. 21 types of corrections.

Can look like this:


Or like this:


Or like this:


Not like this, it cannot look like this:


Or like this:
Comment: I was surprised this idea got so many views and then I realised "oh it's a bitcoin post nevermind".

Looks like the bull market is back with Tesla.

Rince & repeat...

"When the majority of people extrapolate the past in a bull cycle and expect the future to be the same, they usually are right and we are pretty early in the cycle"
- Warren Dalio
Post one about XRP if you want see participation in a comment section. I agree, this doesn't look like a pump before heading lower, also when it comes to btc, counter trading the masses is usually the best practice. I'm too much a NWO conspiracy theorist to discount BTC as a possible store of global value, being that is's completely traceable and transparent.
+1 Reply
@MrRenev , how significant would it be that 8.5K has been breached? Also with a higher montly close. Or is this just people pushing the price up? Before the big drop

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@MrRenev , interesting post, i like to read it. I think every bear market of bitcoin should be longer than the previous one.
See my chart below.



But this gold chart makes me want to hedge both ways. HODL up some coins and short some down.



Please let me know what you are thinking about both charts
+1 Reply
dont try to teach... just post your opinion...
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- No FOMO any more
- Facing with supply zone
- AD break down trendline
- Bearish Engulfing pattern
- All good news has been published
- We're seeing bearish divergences in the RSI ...

Please take a look at our idea and let us know what you think!

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Someone seems to be suffering from the Dunning-Kruger Effect.
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Thanks for your view - It seems to me that you have a leak in your game, and that is when it comes to reading the market and market psychology in general.

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Thanks for taking the time to share this information. I believe there are two key prices to be aware of right now.
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