Welcome everybody, I hope you guys find something here you can use long term in your own trading.
This is my long term BTC chart.
It is pretty simple, I just want to sit and relax and wait for the bottom to be hit and formed.
Then the fun part starts scoping cheap bitcoin and alt-coins for some fun 10-20x increases long term.
Alt-coins follow btc most of the time unless they are extremely hyped for some reason in the short term.
Remember, historically the later years bitcoin have been moving sideways for months after hitting the bottom. ( there may have been exceptions but I'm thinking the 2018 bear market primary - recent times )
So I assume that will be the case again.
And nothing really points to it won't be like that this time.
Some serious whales are needed to push the price up in 2019 compared to in like 2015.
Not 1 whale...I dont believe such foolish idea.. I think a group/group think - of whales is needed to start pumping the price for the reversal to happen.
And they will first do that when their bags are full of cheap btc/alt-coins.
That is why we saw btc go sideways for months at the bottom at 3000-3500 ish usd. The whales are buying up slowly but surely every day.
BTC Whale = Really rich person. Let's say 100 to 500 millions usd in their trading account.
Those who can move the market and are professional traders by trade.
They crush/out-class the retail amateur investor/trader.
It is like playing football vs professional football players...it is not even fun hahaha.
The chart pretty much explains itself.
When we hit a green zone, we just sit and count the months.
When we see a breakout over EMA 100 or 200 it is most likely time to buy in/last chance to buy in if you want maximum profits with minimum risk. = most possible profits long term.
This was all for today.
Have a nice day, Christmas and New Years Eve from here :)
We will talk when we touch the 200 day of the weekly, if it breaks that then we are in trouble.
DaMonk2019
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Can you explain your indicators please? The coloured lines, and what youve drawn on it. Also its 1 day time, my chart doesnt go that far back lol Mine only began less than a month ago, but I want to learn how to plot like that so I can refer back in time, if you get what I mean? I see alot of what you have put, it is self explainitory* its the properties and indicators I cant understand. Its cool if you dont have the time but ive followed this chart and hope it helps with my education.
Playing football with pro players... you have that right, no one has time for the uneducated. (But LOTS of time to explain to critics, non supporters etc about crypto but not new entries to the trading community) Weird