Here we have a different chart... This EOS chart threw me off, it was hard to read at first as it is a completely new chart for me.
You see, these numbers and laters on the screen /"pairs", Altcoins or whatever they are, all basically move in exactly the same way with just a few variations.
We have bots/algorithms controlling different parts of the movements and depending on which bots are affecting which token/altcoin project pair at any given time, that is what will decide how the chart will be drawn.
So depending on the strength of the project, the team or the pull it has, just to pick a few of the factors that affect the chart, the chart will be drawn differently.
I think there are around 5 major algorithms controlling the market and many other individual custom made ones interacting with them, as well as the public.
Now that I think about it... These bots/whales/groups/algo/etc. can be miners as well for all we know... That doesn't really matter... We buy when prices are down, to sell when everything is green and up.
So all the technicalities are just entertainment if you can here like me for work.
We look for the charts with the lowest risks, aiming always first to win above all... Once you get used to the feeling of winning, you can decide if you want to sell at 20%, 30% or more.
The trick is to get used to selling, securing/collecting profits. Because if you don't sell, everything will be gone when the market goes low.
Buy when the prices are low.
Sell when prices are moving up.
EOS Chart Analysis
We have EOS Token (EOSBTC) trading at support levels, consolidating sideways.
This consolidation can lead to another drop or a move up.
Which one will it be?
Signals MA200 dropping fast with momentum is my signal that EOSBTC has good chances to move up.
Each time we see MA200 (black line) behaving this way, prices tend to pull towards the Moving Average line indicator. Let's see how it goes.
Even with all this information, we still remain open to all scenarios and always have a plan before we trade.
Example
If prices go lower we stop the trade at xxx price.
If prices start to move higher, this is where I sell and collect profits.
the most vicious bots are the baysian and alphago bots, these are highly advanced AI that outperforms any human trader. They will suck so much money from the market and they will make it highly unpredictable. They are self learning and learn billions of stock patterns and their combination. They have very high prediction rate and reaction time is within seconds. They can execute up to 20 trades a minutes. Humans are just easy prey for them. You ever placed a limit order and the price jumped ahead of you and not let you get filled until you fill at market, that is an AI bot playing with you.
AlanSantana
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@nagihatoum, I've seen it live on BitMEX in the past.
nagihatoum
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@alanmasters, the guys behind the bots exposed themselves during the Bybit brawl, they made 2000% ROI in the first few days. They even named their bots according to the AI they are using, baysian and alphago. They were disqualified because the mods noticed the bots acting not human, placing 20 orders within a minute.
AlanSantana
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@nagihatoum, Thanks a lot for sharing, appreciated.
nagihatoum
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@alanmasters, it is because these bots make profit by taking money out of the market, they are not investors it is reasonable that the markets will continue to drop until more investors step in and give these bots their money.