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Bitcoin (Cryptocurrency)

Which Candlestick Pattterns Work Best with Bitcoin?What is the daily closing price of bitcoin? It doesn’t have one. It is actively quoted 24 hours a day, seven days a week. Most securities have a start and endpoint. Even the euro closes at the weekend, but not bitcoin. “What is the close of bitcoin?” may sound like an odd question, but it is crucial for candlestick analysis. How can you have a bitcoin candlestick with no candle close? Traders have used candlestick charting techniques for literally hundreds of years. We can say they have stood the test of time. Traders continue to use this ancient technique because it works. (If it did not work for them, they certainly would have stopped preferring to display their daily bars as candles long before now.) Know the Candlestick Patterns These patterns work best in bitcoin and, sometimes, better than in other markets. What other candlestick patterns would you add in this list?🧐
BINANCE:BTCUSDEducation
by Berzerk_invest
8
BTC treasure hunt. My minions! Got any leads?I have taken a few baby steps into the treasure hunt, but I'm losing interest quickly because nothing is jumping out at me. My gut is telling me that the clue is somewhere in the "pizza the action" history timeline entry. I'm only saying that because that would be kind of fun, but to my eyes there is no way of guessing the sentiment of the treasure hunt designers who ordered the clues. I thought the 1st one would be super obvious, then you would start to whittle numbers down as you went, but I can't even find #1. Oh well. If anyone has any good ideas comment below.
BITSTAMP:BTCUSDEducation
by emehoke
18
REVIEW BITCOIN H1 TRADE PLAN PROFIT IDEA 21 - 24 MayHi, As you can see the chart. I give you more review for my strategy in Bitcoin. in this chart you will see 3 trades are win. I won't focus on win or lose, I will teach you how I can make money day by day With each trade, you can see the big bar close cross over Kijun and Tenkan . Look the Volume you see the factor higher SMA 50 Volume . So what is it mean ? LOL in this chart I can not say more. >> LET CLICK LIKE & FOLLOW TRADE PLAN PROFIT With each trade I will bet 2% capital, I don't care about pips, I only focus RISK PER TRADE First 2 trades, I can make + 1.6 %. but last one I make + 6.88 %. Sometimes, I lose more than win, but when I lose I only lost max 2 % per trade and win will make XXX Big TIMES Thanks.
BITSTAMP:BTCUSDEducation
by tradeplanprofit
Trading psychology and a story of history repeating itself.Take a look at the chart above. Now take a look at this one. And now take a look at this one. There’s something that all three of these charts have in common and it might not be what you think it is. I'll add before going further that this is probably going to be my most crapped-on post here but it is what it is. I want to talk about the problem of winning early. During the COVID crash, millionaires were made. Millionaires were also destroyed. In more cases than you may imagine, millionaires were made and then destroyed. During the crash, there were a bunch of savvy investors who profited greatly off of the collapse of the stock market over the course of a month. A huge part of this was due to options and the magnified returns that can be possible with them. During the crash, this became even more possible. See, while AMEX:SPY was shitting itself over the course of a month, implied volatility exploded across essentially every options chain that existed in the market. Normally, to be successful with options trading you have to have at least some kind of comprehension of how the underlying math works behind building a position. You have to have at least *some* comprehension of the Greeks. During this period, you needed none of that. You could buy a $150 strike put expiring tomorrow at the beginning of March and by market close you’d 10x your initial investment. It was definitionally free money if you were able to capture it and get in early enough. This led to a huge influx of people jumping into the market because they were hearing their friends just buying puts like crazy. r/wallstreetbets started becoming more and more popular during this time as options use on Robinhood exploded and more and more people started piling in for the free money. After all, if the friend you have who flips burgers just made $1,000 in options why couldn’t you? Tons of inexperienced traders jumped in and made a lot of money. Then the bottom happened. Volume started to die out, the bleeding stopped, the Fed ramped up their unlimited QE operations, and the market stabilized. What’s more, implied volatility slowly started to creep down. New entrants into the “easy money” market who were very successful were convinced it was a fake-out. They were POSITIVE that there was no way this was a real bottom. COVID was still rampant, countries were still shutting down, and in this case they were correct. COVID was nowhere near finished. Now more than a year later, we’re still dealing with it in many ways and the world is far from being “back to normal”. What they were wrong on, however, was that the market would continue to care. The truth of the matter was that none of these new entrants had any clue what they were talking about. None of them had any concept of even what the market’s current valuation of specific assets even meant in the context of COVID. There was no talk of gauging the actual value of stocks against projected success in sustaining COVID. There was no concept of the market being “forward thinking” in terms of how it allocates capital. It was just all “this is bullshit, there’s no way this it the bottom” and reams and reams of conspiratorial tweets and posts about “the coming leg down”. It was all bullshit, the market bottomed, big money was now hunting for bargains because it assumed that COVID would pass and the market would recover. In addition to this, implied volatility also started to drop. Just buying random options in the general direction you thought the market might go became less and less of a winning strategy. Soon, people were losing their shirts on big bets using money they made during the drop. People were bearish to the point of insolvency. They fought the trend instead of going with it and they kept with a losing options strategy because they used to make money doing it. The amount of money won and lost by retail during the months of March, April, May and June was astronomical. There’s something that happens to a person when they discover something new, try it out, and become immediately successful at it. There’s a trigger in our brains that leads us to assume that we’re successful because we’ve just discovered some nascent talent that we never knew we had. Instead of looking at ourselves as lucky, we look at ourselves as imbued with innate knowledge that is guiding us toward success. After all, look at your account balance. That doesn’t just happen on its own. This becomes so much worse in something like the stock market (or, perhaps crypto). The stock market and finance generally are things that people are often led to believe are zones of institutional expertise. They’re things that regular people shouldn’t be involved in. Look at the math used by some quant fund. Listen to the financialized, confusing language. It looks like this monolith of expertise from the outside. Then you become successful in it and you feel like you’re one of the club or, even worse, beating the club. When we start to win after learning lessons and applying them, we train ourselves to evaluate information and apply it to something in the real world. When we start to win immediately, we train ourselves to believe that we just “know” what’s going to happen. The biggest difference between these two mentalities in my eyes is what one does when what they “know” starts to be tested and broken. With experience and time, when the play you make starts to falter because what you “know” starts to look like it’s not working out, you take losses and learn. When you win immediately and a play you make based off of what you “know” starts to falter, it’s because of some outside force “manipulating” things or because of a million other reasons. You don’t take losses and learn because there’s nothing to learn. You’re right and everyone else is wrong. Now we see this playing out again in the crypto world. Every other post seems to be about manipulation in the crypto market. Duh. Crypto is the most manipulated market on Earth. When 1,000 wallet addresses control 40% of the entire market cap of something, you don’t get to call it decentralized. It’s centralized, just in the hands of anonymous strangers or groups instead of alphabet soup agencies you can put a face to. We see new entrants to the market flooding $DOGE and $BTC, enraptured by the story behind the crypto revolution and captured by early initial success. Look at my account. It’s up 1,000% I must know what I’m doing. I can’t imagine I just now found out about this. Look at the innate knowledge I have and how I can read these markets. If the market goes down, it’s not because of anything other than people not knowing what I know. It’s going to make me sound like an asshole but it has to be said: if you are up 1,000% on an investment and you haven’t sold anything, you aren’t an investor. You’re not “beating the market”. You’re not on the vanguard of a new wave of investor shaking the establishment. You’re not “doing battle with the hedgies”. You’re a rube. Everyone starts somewhere. Unfortunately (or maybe not) for some people, that somewhere is in the middle of a period of mania leading to euphoria in a specific market sector. It’s a period where you just can’t lose money. The good ones get crushed and learn from their mistakes. They lick their wounds and decide to stick with it. I mean, the population of r/ThetaGang must have EXPLODED of the past year with people destroying themselves with options buys. The bad ones get crushed and disappear, further angered at a system that “manipulated” them out of their money. The moral of the story here is that we should all be suspicious of everything in the markets. Above everything else, we should be most suspicious of ourselves. Are we trading for the right reasons? Are we missing something? Are we really as smart as we think we are? The second you start to believe you know something the rest of the market doesn’t, well you’re screwed. Just remember that the second you look at a chart like the BTC or DOGE charts above and blindly think they look good you have turned a corner into trading on emotion or hope. What goes down isn't required to come up.
COINBASE:BTCUSDEducation
by UnknownUnicorn16914442
11
Wyckoff Price Cycle ExplainedAccording to Wyckoff, the market can be understood and anticipated through detailed analysis of supply and demand, which can be ascertained from studying price action, volume and time. As a broker, he was in a position to observe the activities of highly successful individuals and groups who dominated specific issues; consequently, he was able to decipher, via the use of what he called vertical (bar) and figure (Point and Figure) charts, the future intentions of those large interests. An idealized schematic of how he conceptualized the large interests' preparation for and execution of bull and bear markets is depicted in the figure above. The time to enter long orders is towards the end of the preparation for a price markup or bull market (accumulation of large lines of stock), while the time to initiate short positions is at the end of the preparation for price markdown.
BITSTAMP:BTCUSDEducation
by Lzr_Fx
Trends. Correction of trends. Sure reversals and deception.Read and watch carefully. Learn to think. Opportunities do not turn into a manic-depressive syndrome due to your greed, misunderstanding of work and processes, both local and global. Shown in the graph for comparison. Today's situation is 19 05 21 ("Creativity 19") versus 13 03 21 ("Creativity 13") a similar situation in the past. Your intelligence in the right direction can make you rich if you think for yourself and control your emotions. 1) "Deceptions" in the growing trend of 2017. Playing with the psychology of desires and expectations. Simple psychology. March 2017 july 2017 september 2017 I would like to draw attention to how the expectation and disappointment of the main market participants are used here for "driving a round dance of greed". 2) "Faith that cannot be killed". Situation after the peak of 2020. 17-12-17 "Revolution". 17 12 2019 06 03 2020 3) Dump. Important decision. Manipulation before a scheduled dump. Overdid it .... 14 11 2018 16 12 2018 An "unexpected mess" with .... the main trend. Slow, subtle fix. 4) Dump before BTC halving 13 03 2020 16 03 2020 Start 2 under the stage "Crown" (CrownCode6) Closing sectors (13/3/22) Using the situation In such a situation, TA and fortune-telling (inferences due to the data of the old chart history + news background) do not matter. It is simply the desire of a very small group of players at work. How to counter and use it? Always have your own plan for different outcomes of trading situations, more likely and less. Understand what risk management is and use it in practice. Always protect your profits (the greed of the majority of those who give away does not allow this, it is used). Rise / fall. Your trading system should work in different directions. Understand the "mood of the crowd", not be among them. No emotion. Cold calculation. Projection of the above on cash earnings: 1) If you are correct the amount grows in astronomical progression. Gives new potential "For other things" 2) If you are wrong, it does not decrease significantly. Provides new potential "for development in this speculative hobby." 5) Dump before BTC halving. The trading situation is large scale. 13 03 2020 16 03 2020 "The girl did her best" ..... 6) Situation 19 05 21. The first "sabotage". 19 05 2021 2021 7) This situation is on a larger scale. 19 05 2021 2021 For those who know how to think 8) " Green Swan" . 4-6 06 2021 9) COP26. 1 11 2021 - 12 11 2021 First SHAH, then MAT.
BITFINEX:BTCUSDEducation
by SpartaBTC
18
BTCUSD - 1dIf you notice that in the previous Bitcoin crash, there was a move during which the bearish move did not go above the previous candlestick, in other words, no previous candlestick broke until a long shadow candle (pin bar) was formed and Then a powerful ascending candlestick broke its previous candlestick and then an ascending movement was formed ... such movements are called micro-channel in price action ... and as you can see, a micro-channel is also formed in this fall. And we must wait for the failure of this micro-channel ...
BITFINEX:BTCUSDEducation
by mohammad_gunner
4
4 Ways to Trade Bitcoin!Hello my small TV community! Today I've prepared a chart where I will be showing you my approach to current Bitcoin price action and how I usually trade. I love to trade ranges as I have a lot success with them, not only with Crypto assets. Usually I am not opened to all four trades, (usually I just follow the trend, when the overall trend is uptrend I just look for buy opportunities) but this time it's different. Why it's different? Because Bitcoin is saying that the overall daily trend is a downtrend, meanwhile the overall weekly trend is an uptrend so I am opened to all of these four trades! Mixed signals. I only look to buy or sell at the edges of the range, I never enter a trade in the middle of the range. I wait for a better opportunity, rather than taking a bad one. (Even if it would lead to a profit!) Which one is your favorite, or which one will you be taking? Let me know.
Education
by TiborVrbovsky
3
Bitcoin Futures v Spot: A Tale of Two Bities. It was the best of trades, it was the worst of trades. Look, I had to get that one in. This update is a quick answer to an email received on CME micro bitcoin futures. To trade or not to trade? Answer: there are pros and cons here. Some points: Micros are very algo driven with the May contract currently looking heavy from just one participant stacking bids and offers. Weird. That will change. Not trading a lot of volume yet. That will change. Full sized contract (equals 5 bitcoins), with margin close to $100k, is too rich for most. Micro contract (1/10th of a BTC) is a good entry level size. Wider bid/ask spreads on all futures contracts compared to spot. It will change should the product develop. Futures have far lower comms than spot coins. Commission example: Crossing the spread (buying 1 and selling 1 at market) in the micro burns $6 in price plus say $2 for (expensive) comms round turn. That’s $8 to play a contract size of $4535. That’s in and out. For spot, Kraken for example charge up to 0.26% to buy or sell at market. Even getting in and out at the same price, would cost $23.58 for the same sized trade as the futures. So three times the fees even when the spread size is covered. Coinbase fees are 0.50%. Comms from one broker/platform to the next very of course and they vary over time, but that’s an interesting example. Futures downside: liquidity at this stage, but that will change. It’s a new contract. With futures, you also have to pay monthlies for platform and data. Some brokers offer free basic platforms, but the data still costs. Trading once or twice does not make it worth the bother. Spot platforms and spot data do not seem to draw a monthly (for now, but you watch). Futures are more for active traders where comms matter. Spot is a better option for long term HODLers. Pros and cons. Not all points covered here. It’s just a start. The CME Groupo site have some great info on futures. Please like & follow for more updates and dumb references.
CME:MBT1!Education
by TheTradarien
5
Introducing The Satoshi All Time History IndexStarting today you can chart, follow, and research the price of Satoshis going back to 2010. Our new index is called Satoshi All Time History Index. Satoshis, or sats, are the smallest unit of bitcoin (BTC). 100,000,000 satoshis make up one Bitcoin. Satoshis are particularly important to the Bitcoin community because transaction fees are often measured as satoshis per byte or satoshis/byte. This makes the unit important to chart, follow, and analyze in detail. In addition, some people see sats as a useful way of addressing unit bias – where people prefer whole units over a fraction of a unit. To get started with our new index, type SATSUSD into the search box and select it from the list. You can also bookmark the SATSUSD symbol page or share the link where needed. We hope everyone enjoys this new addition. Please leave any comments or questions below. Thanks for reading!
INDEX:SATSUSDEducation
by TradingView
52
CAKEUSDT - How to find a good CAKE entryCAKE and pancakeswap are trending hard right now, its a great defi solution that's innovative and has triple A backing in Binance. The common thought for most is, how can I get in on that profit?! One way to do it is buy low, sell high! In order to buy low, you need a good entry, luckily, I think I've found one! In todays video I go over how I find potential entries for profitable trades and apply it to CAKEUSDT === TimeStamps === 0:00 = Welcome! 0:35 = Patterns 1:20 = Fibs 5:20 = Resistances 7:30 = Price path 11:00 = Entry 12:05 = Stop limit 12:30 = Take profit 14:45 = Fundamentals 15:15 = CoinMarketCap 17:30 = Tradingview ideas 18:50 = CoinMarketCal 19:20 = r/pancakeswap
Education
by tommytoan11
Recent editor picks in one place! This post is a little different, I have recently gone back into Trading Education and mentoring and wanted to ask what kind of post or info would the community like? Here's a list of the recent editor picks; some educational content (each link you can click on to go through to the actual post) 1) Gann Fan Tutorial 2) Buying the Dips made simple 3) Simplified Elliott 4) Elliott level 2 - (not an editors pick) but goes after the Simplified Elliott) 5) Quick intro to Moving Averages 6) Simpson's walkthrough Psychology 7) This one is not an editors pick but goes into more depth around the Simpson's post 8) Trading Can be lonely 9) Not an editor pick but some books for when your lonely 10) Bart pattern - no education but had a pick for this one 11) This land is mine 12) Crypto news and updates (last week) 13) How to do fundamental analysis on altcoins Some other posts worth mentioning 🍒 COT guide - 🍒 Indicators Vs Price Action - 🍒 Using the comparison tool as indicators - 🍒 Interesting news events on BTC highs/lows - 🍒 Did you know S&P now has Crypto index's? And have you seen a Wyckoff schematic laying underneath a daily BTC chart? This is awesome! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITFINEX:DOGEUSDEducation
by Mayfair_Ventures
9
Parabolic Explosion / The Bitcoin PhenomenaGood Morning traders! Today we bring you a curious post, and maybe a bit controversial, since we are going to propose a future behavior in bitcoin (in relation to past events) with an extremely interesting price target. To make this post, we will focus on the last large corrections, that is, backward movements that lasted for months or perhaps years. They can be clearly seen in the chart of the post, because the chart is in a logarithmic scale (if you do not know what the logarithmic scale means, leave a comment and we will gladly make an educational post in relation to the different scales in the graph). We can see great similarities in the corrective movements, and so far the impulsive movements have been respected. Speaking of corrective movements, we see that both have a depth of approximately 85%, and a duration of between 1100 and 1300 days. 🔸We can see more clearly the corrections in the two charts below: 🔸The target set in both situations is the theoretical target of this type of movements. Of course, the movement after the first correction ended up being abruptly greater than the theoretical. The rise of the previous impulse was +1600%: Now what we ask ourselves is if the current impulsive movement replicates the previous rise. If so, it would imply a +1600% rise from the breakout, resulting in an approximate target of $340,000. Interesting, right? This kind of behavior is common on many cryptocurrencies. We have more examples and cases, so, feel free to comment the cryptocurrency you are inteterested in and we will try to apply this kind of analysis to it!
BITSTAMP:BTCUSDEducation
by ThinkingAntsOk
4
How to chart crypto market caps beyond TOTAL, TOTAL2, etc.! TradingView offers some awesome abilities to chart the entire market cap for cryptocurrencies using TOTAL, TOTAL2, and OTHERS under CRYPTOCAP. However, I often find myself having inquiries beyond just these symbols, so I would like to introduce how to show other market caps possible using some simple math. For those who are unaware what the symbols mean under CRYPTOCAP, here is a brief introduction to a few of them: * CRYPTOCAP:TOTAL - The entire market cap of all cryptocurrencies in the world such that if you were to own every cryptocurrency everywhere, this is how much money you would have * CRYPTOCAP:TOTAL2 - TOTAL minus the the market cap of Bitcoin * CRYPTOCAP:BTC.D - Also known as "bitcoin dominance", this represents the percentage of the total market cap which is made up of Bitcoin * CRYPTOCAP:ETH.D - Similar to BTC.D, this represents the percentage of the total market cap which is made up of Ethereum * CRYPTOCAP:OTHERS - TOTAL minus most of the cryptocurrencies provided by CRYPTOCAP that end in ".D" Additionally, for a full list of what OTHERS omits, this can be found at the following page by excluding all the prices described under the section "Total Market Capitalization Dominance, %" on that page. However, sometimes you might be looking for further market caps (e.g., just bitcoin, etc.). For these, here are some useful equations that might help you out: * "CRYPTOCAP:TOTAL-CRYPTOCAP:TOTAL2" , aka "the TOTAL market cap for BTC" - The easiest way to calculate the market cap of BTC is "TOTAL-TOTAL2", since the difference between TOTAL and TOTAL2 is the whole of BTC by definition * "CRYPTOCAP:ETH.D*CRYPTOCAP:TOTAL/100" , aka "the TOTAL market cap for ETH" - Since ETH.D is the total percentage of ETH in the market, multiplying this (as a percentage) by the total market cap yields the total market cap of ETH * "CRYPTOCAP:TOTAL2-CRYPTOCAP:ETH.D*CRYPTOCAP:TOTAL/100" , aka "the TOTAL market cap of everything BUT BTC and ETH" - Since we just calculated the total market cap of ETH, and since TOTAL2 is the total market cap minus that of BTC, subtracting the latter from the former yields the total market cap minus the two largest behemoths I should note as well that the market cap of any currency can easily be calculated using the formula ".D*TOTAL/100" so long as "COIN" in this formula has a "dominance" indicator under "CRYPTOCAP", e.g., XRP, LTC, BNB, etc. To chart any of these symbols, simply enter in the above formulas (without the quotes) instead of the symbol when using the search box in the interactive chart in TradingView. For example, instead of searching for "BTCUSD", try searching for "CRYPTOCAP:TOTAL-CRYPTOCAP:TOTAL2" instead. Hopefully folks find this useful for their future charting endeavors.
CRYPTOCAP:TOTALEducation
by crypto_trends
3
ETH weekly chart using silver ratio retracements & 0.4142Most of this is explaining why I like the silver ratio: 1+sqrt(2), or 1.4142. It may be a sort of analysis of ETH, but mostly I want to explain why I found the 0.4142 fib chart level so compelling as soon as I started using it (I tried several values and that one INSTANTLY had results, where all the others failed). I was working on this when I saw the front page idea* with my fib chart retrace values! (note: i had to abandon my other account since this had my number attached so I could buy being able to look at two charts at once... x.x. so i am starting fresh, but I have been using sqrt(2) as a fib level since I was trying to figure out my own tweaks on the formulas. In fact, 1.4142 and 0.4142 are WEIRDLY good as fib levels. They are more accurate than 38.6. Because it's sqrt(2), it also fits nicely into the overall template of a fib chart that is mostly focused around ensuring the levels are being respected in general, so that once applied further, the same levels can be predicted in the same manner. I'm not being annoyed about that I would love to see 1.4142 used more often in fib charts; it's just a fantastic level. It's also related to a more complicated topic, enumerative combinatronics, which is quantifying possible patterns... which is perfect for pattern-heavy price action! I initially was not very confident in TA. There are so many different techniques and it is very hard to figure out which are hopeful guesswork and which have an objective relation to the price. Learning incorrectly early on also harmed me, but it was an important lesson to learn. I am not a maths major so my explanations here are pretty minor. www.youtube.com Here's a numberphile video about the silver ratio. sqrt(2) is a Pell number. More formally, {delta} = {delta}S = 1 + sqrt(2). I wish TV wouldn't get mad at me for using math symbols and think I'm not writing in English but okay tradingview. If you were to replace the fib numbers and make a Pell chart instead, it would look like this: nevermind I made it and it was terrible so I scrapped that idea. I will need to mess with the pell series more because that many irrational numbers (19601+13860sqrt(2) = 39201.99997... ok) puu.sh Silver rectangle (as opposed to the so-called ~perfect~ Fibonacci ratio rectangles, I find this one to be more respectable!!) I'm still pretty new and only have a few months with very scattered education regarding these topics so most of it ended up being pragmatically learned and backtested. It seems to work so well that I second guess myself so often I end up making bad trades while it just follows my prediction almost precisely. I just use the retracement because the actual uses are sorta irrelevant to me as long as the ratios and levels I want are on the chart in the way I want them to consistently be used for my own purposes. What's that? I can toss this set of retracement levels and it just manages to fit better than the defaults with zero fitting required! usually Indeed, 0.2 and 0.4142 were probably my favorite discoveries in January when I was experimenting with different mathematics. A runner up is 0.8, only because it usually nests the dip after the 1 (100% value) is reached. As a trading style, the point is to buy in either for a short term trade between 0 and 0.2 and then sell at the silver level (0.4142), or, anything below the silver level is a buy zone, and 0.618 would be the sell point if there is a "projected" chart, which I like doing. It is, and always will be, weirdly accurate in predicting reversals, but never when, only the price. When is the hard part to me. puu.sh example, this is my bitcoin chart from my prediction in march and then now. I was expecting this sort of move but getting it to the exact day and recognizing that last flash crash before it happened (because it was repeating a previous impulse, so is probably some fundamentals I don't know about, whether it's monthly miner sales or just... taxes or whatever). So using presumptions of the asset's usual impulse distances (since, well, the same people are buying and selling, and unless the price changes significantly, the movement in prices tends to always be correlated to previous movements, with the exception of mean reversion inevitability if it's on a wrong side of an MA or vwap or something. Basically, trading probability and the averages. So far it was worked well as long as there is no flash power outage in China that messes everything up. But even then it seems to be priced into the chart levels. My next study is to see if I can integrate Elliot wave theory and these levels into a combined impulse prediction tool that I can use for myself objectively so I can stay in a trade with more confidence. Mostly, I gotta stay off the 15m chart.. lol. Likely fallacy pitfall explanations for the retracement fit: 1. seeing patterns where there are lots of possibilities for patterns to be formed; of course, everyone ends up ignoring the values that are not met or are blown past, since they fail to create any support or resistance. I like to use these levels that are previously unused to predict where a channel may form, because an unused channel is more appealing to price action than a used one, given the volatility a used one entails with so many orders and predictions being made for the same ones. .4142 and .2 and .8 are all slightly off of the fib levels. They are just off enough that instead of being overlapped, they skirt the level. This looks and is a lot cleaner on the chart, but may well just be seeing what one wants to see in how important the levels are. This is why I chose to focus on the 0.4142 level so heavily. It falls just short of the halfway mark (a very important value in probability given it is the median of the range I am trying to predict), which more or less confirms a halfway point. If the trend is very bullish, you can use the 0.4142 level as the guideline to try and predict where the 1 value will end up in the future. I spent some time adding some more predictions and using those levels as examples of their utility in future price projection, as well as how well it can backtest. Here is a step-by-step in how I do this for a quick guesstimate of bullish impulse prices that I find a bit more adaptable than simply the golden ratio fetish, and unsurprisingly, other such irrational numbers work well when used for different purposes. BTC s3.tradingview.com 1 s3.tradingview.com 2 s3.tradingview.com 3 AAPL: s3.tradingview.com ~base ~adjusted ~result The final thing I have to say and want to express is that it's fantastic to learn how all these things work in the book, but the book doesn't matter if you don't have your own understanding and conceptual view of the technique you or I am using. Most of all, it should make sense to you, even if it doesn't make sense to anyone else. I've come to appreciate that with charting and the great variety of ideas and methods used by everyone, closer or further from the standard. It's worth noting the standards didn't have a high success rate anyway when tested in a vacuum; but this methodology is less for efficient autotrading, and more for having a plan and reasons for entering or exiting trades at certain points. The most important element of charting, that I've come to identify, is that it cements the plan into a reference work that when changed becomes useless, so the plan must be stuck to unless price itself defies expectations beyond parameters. Thank you! I'm happy to be able to shove this all in an article finally and sort of start to work out my ideas, as I have very little concrete documentation on it yet, as frankly it's still in the growing pains stages as I am but a bab in TA. Sofie *https://www.tradingview.com/chart/AMC/zjtSxXED-Using-the-Trend-Based-Fib-Extension-Tool/ My examples focus on an uptrend.
Education
by rubyatmidnight
10
Could Ethereum beat Bitcoin? Special Analysis!!!Based in my opinion, there's a highly chances that Ethereum going to strenghten the trend during this bull rally. But stil alert in the market cap, the market cap it's key to know what cryptoucrrency are growing up. For that guys, we would need to be so alert if Ethereum it's take dominance of Bitcoin to growing up. Ok look on 2017, in the Ethereum market cap hit the $142 billion in the past bull rally. Meanwhile, Bitcoin market cap hit the $320 billion in the past bull rally. So, Ethereum was more powerful in the past bull rally on 2017 when Ethereum was undervalued to $100 USD and go to $1,500 USD approximately on the end of 2017. And 2018 was the bear market that Ethereum down to $113 USD. Now, actually, Ethereum it's so near to mark a market cap worth in $500 billion. Meanwhile, Bitcoin market cap it's around of $1.10 trilion. Now, if we look, we can to get price future to know the comparsion what will happening if Ethereum reach the $10,000 USD as first objective, or using the the market cap value to use basic mathematic. To know, Etheruem has the supply circulation of 115,795,729.75 ETH and Bitcoin has the supply circulation of 18,704,050.00 BTC. Now if you want to know the price and know what will be happening in this comparison. Look this exercise. The easy way it's know your price future. Imagine that Ethereum going to reach $10,000 USD. This price future it's possible to reach by long term. We use the Ethereum supply circulation and we use it to multiply with $10,000 USD. and the result will be a market cap value of $1.15 trillion. Now, if you want to know that Ethereum going to reach $20,000 USD for coin. This price future it's possible to reach by long term. We apply the same. Multiplying $20,000 USD with the Ethereum market cap. Ethereum could to reach a market cap worth in $2.31 trillion. The 20,000 USD it's so similar when Bitcoin on 2017 reach this price, now Ethereum it's turn. But what will be happening if Ethereum mark the $30,000 USD. Well, the market cap will worth $3.47 trillion Now, if you want to know in that case of Bitcoin what will be happening if Bitcoin reach the $100,000 USD. We need to know that Bitcoin has a supply circulation of 18,704,050 BTC. We multiply the $100,000 USD as future price with the supply circulation. The result will be 1.87 trillion. If Bitcoin reach the mark of $200,000 USD, The market cap will worth 3.74 trillion My Personal Opinion: I believe that Ethereum may to change the things. As Bitcoin and Ethereum are main cryptocurrencies. A lot people are invest in Ethereum than Bitcoin right now if we compare the Ethereum/Bitcoin ratio. And we see that there's a lot chances that Ethereum it's becoming the next Bitcoin. So, I believe that Ethereum have all chances to go easily so fast a market cap of $1 trillion and so near of Bitcoin market cap. But, this chart are so fundamental key if you hold Ethereum in this altseason. becuase Etheurem coul have more ROI than Bitcoin do. And well, I interesting to look Cardano to compare with Ethereum using the market cap of both cryptocurrencies. Because Cardano, it's the next Ethereum killer and remplace of it For that, big news are incoming in Cardano during this bull rally. For that, Cardano it's my cryptocurrency key in this smart exit plan.
CRYPTOCAP:BTCEducation
by harisonhbn9718
ONE OF THE MOST USED BEARISH PATTERNS: DESCENDING SCALLOPOne of The Most Used Bearish Patterns: Descending Scallop · The descending scallop is a bearish reversal pattern. · Descending scallops are common topping chart patterns. · This is a downward trending char pattern. · You can support me with your likes. · Also you can share your opinion with me in comments. · Attention: this isn't financial advice we are just trying to help people on their own vision. ·Have a good day!
Education
by CaptainBarbossa
2