Seriously, what type of trader are you? This is a quintessential question that must be answered so that you can develop your trading personality. There are 3 main styles; 1. Day trading which is for experts, you have to close your position by the end of the day, not good for Crypto. 2. Swing trading is a bit better for Crypto but during up-trends of course. 3. Position trading is optimal for Crypto, which is what I recommend and this is how you'll make money. I take 2 to 3 large bites out of the apple per year and I'm done. The caveat? You have to develop patience and discipline to do it, on the other hand, you will become profitable and you will escape the hazards of this global video game we call Crypto trading. lastly, scalping is not a major style but a skill you can develop to make a few hundred dollars in a few minutes once in a while. In the next few days, we'll go into details about each trading style.
What's BTC doing? For now bitcoin is not wanting to go below 61.8% which is a message, what can the message be? Well it could be that BTC has found stability, and is actively looking for buyers. As I have been saying this is a likely place to stage a move up-to the 200MA for BTC. It is safe to jump into some alts like ETH, NEO, BNB, LTC. There is a chance that we can melt down to $4600 which is why you should not commit 100% of your capital at this point. You want to leave some for that bottom area which is the ultimate buy zone.
Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits.
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NOW, THE LEGEND; Support trend-lines are green Resistance trend-lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white
THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
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The fact that there is incredible support in this area leads me to believe that this is one of two places where BTC can stage an serious up move. As you can see BTC is sitting on long term support and a number of other positive factor that I've already covered. If you haven't you should look into putting a percentage of your money into alts.
Thanks for the work, man! I've been following you for a few months now and really appreciated your reference a while back to McAllen's Charting and Technical Analysis. That book has helped my trading immensely. Keep up the hard work! We all appreciate it!
cryptoGats
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@Falcon_One, I’m very glad, and great to hear from you again.
Braggerman
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also, btc is a veryyyyyyyyy very nasty bitch so follow the mood folks it swings like hell