D1 The earliest pattern I see is a running flat, That's the way i'm looking at it at this stage. One reason of cause is due to how slow it's been at the low on the lower TF's over the last couple of month's. We do have bullish divergence on D1 so I am expecting at least a C up for a running flat. No one knows where C will end, It could be an expanding flat (my 2nd opinion) or I could be totally wrong with my idea, count and it was an ABC completed at the low for total upside from here. It really doesn't matter what pattern it turn's out to be, Price has given a high possibility of at least a C up. EW that's an impulsive wave so we can trade it on the lower TF's and if i'm totally wrong and price breaks the top (Very unlikely for a very long time), all good, were on the trade from the low!
Basically no one knows, There simply isn't enough data to know (same with the other crypto ccy's). We have a starting price and a top, That's it. Is it a sleeping giant or will it fade away as quickly as it rose? (leave your comment)
Truth is know one even knows the names of the CEO's or business owner's that started up these crypto scheme's. My guess it was the Illuminati LOL, What's your guess? (leave your comment)
The hard fact is crypto is backed by absolutely nothing. People say " but currency is backed by nothing either, it's only worth as much as someone's willing to pay" Well in my opinion half of that is not true, Currency is backed by the government that issued the note. Can a currency become worthless against another currency? Very unlikely in my view, every country is worth something in the land alone not to mention the infrastructure ect. But this is not the case for crypto, It could be all turned off tomorrow and labeled a pyramid scheme!
Having said that it is my strong opinion Crypto should only be traded, in and out taking profit. Long term investor's should stick to something more concrete like silver, gold, stock's, indices ect. something with real value!
H4 like I mentioned above, Nothing really happening for the last two month's. We do have bullish divergence but because we haven't seen the start of the possible D1 C up after all this time, I'm not ruling out a Z down due to the sideways price action. This could go on for some time to come. Correction's are a time factor, edging it's way down to the 161.8fib extension. There is no confirmation a low is in place, Price can push lower.
This is a D1 long term so I will be updating this idea with lower TF analysis as price plays out if enough people give this idea support.
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential long term setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
Basically no one knows, There simply isn't enough data to know (same with the other crypto ccy's). We have a starting price and a top, That's it. Is it a sleeping giant or will it fade away as quickly as it rose? (leave your comment)
Truth is know one even knows the names of the CEO's or business owner's that started up these crypto scheme's. My guess it was the Illuminati LOL, What's your guess? (leave your comment)
The hard fact is crypto is backed by absolutely nothing. People say " but currency is backed by nothing either, it's only worth as much as someone's willing to pay" Well in my opinion half of that is not true, Currency is backed by the government that issued the note. Can a currency become worthless against another currency? Very unlikely in my view, every country is worth something in the land alone not to mention the infrastructure ect. But this is not the case for crypto, It could be all turned off tomorrow and labeled a pyramid scheme!
Having said that it is my strong opinion Crypto should only be traded, in and out taking profit. Long term investor's should stick to something more concrete like silver, gold, stock's, indices ect. something with real value!
H4 like I mentioned above, Nothing really happening for the last two month's. We do have bullish divergence but because we haven't seen the start of the possible D1 C up after all this time, I'm not ruling out a Z down due to the sideways price action. This could go on for some time to come. Correction's are a time factor, edging it's way down to the 161.8fib extension. There is no confirmation a low is in place, Price can push lower.
This is a D1 long term so I will be updating this idea with lower TF analysis as price plays out if enough people give this idea support.
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential long term setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
Comment:
H1 Idea, Check out the idea details for the complete picture. Thank's
