This is an example to show that classic TA doesnt work, its a typical H&S pattern that if triggers gives target -24....I illustrate this example to show that many times we see what we wanna see only, and this is not the reality. I can also find countless examples like this one, also more on the fibo studies as well. I know I might spoil the dream of many rookies here but better to learn it from the beginning and try to focus elsewhere. Please feel free to comment, I am sure there is gonna be a big discussion!
I'm a rookie, holding bag of etc should I switch to tether now or hold for short term
gregpap
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@GlennTarplett, No no, this is an example of why classical technical analysis is a fallacy sometimes...on the other hand, I believe ETC is gonna rise a lot now, so this was the perfect example, hold them.
bongoleiro
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nice one man! people must know that TA doesnt work on the majority of altcoins right now, due to their short time on the market and plenty other reasons.. Thanks!!
gregpap
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@bongoleiro, yeah need a lot of experience to be able to read charts and understand the situation