DJI should drop for awhile, if it doesn't I'll be amused but not amazed.
This is looking at a chart, nothing more, the hidden hand does what it wants...else charts would always be right.
The last time I predicted the DJI to crash was before Joe Biden won more votes than any president in U.S. History and a COVID-19 Vaccine was ready the next Monday...and the...
Hello, this is not financial advice...
Please look at this idea from February:
BTC will either hold around $16k, or will IMO drop right past $12k to $10k....$7,700 is not off the table.
There will be bounces of course...we could shoot up to $40k with ease before the real downward...
Looking at this chart we see a lot of candle "wicks" pointing upwards.
As a new trader I had no idea what was going on because it takes some time reading candles to relate all the candles you see to what is happening in the market with actual trades.
Answer: These vertical wicks mean the price spiked over and over, but after each spike selling took...
Its really hard to step back and take a view of ICP because it came down so far, so I switched to Logarithmic scale and it showed more detail and squashed the giant arterial red blood stain on the left of the chart.
When I did a Log scale a different, pattern emerged that fit a triangle better than Normal scale.
The price has touched the top and bottom four...
From time-to-time it helps me to remove everything except price, set the Timeframe to something large and just kick back and stare at it.
No indicators or even volume, no fib lines or Moving Average...no RSI...just the price.
You may also find this to be either cathartic or a good learning excercise.
From there its fun to add 12/26 EMA or Volume or Fib lines,...
On the 6h MA we can see the triangle breakout, and then touchdown on the top as is common behavior.
We pierced the lower bollinger band so on the 6H we are ok for a bounce, but nothing is guaranteed .
Please see the image below for the entire triange on the 1D:
1) Bounce Upward
2) Continue to follow...
I am a dummy, so often it takes a long time for things to sink into my thick skull.
Loss of money (or failure to make mony) is often where I learn the best.
Instead of learning from my mistakes I enjoy repeating them many times...just to make sure.
Anyway there are four important points in common price action (FOR TRADERS), and they have acronyms:...
Of course everything is bursting at the seams, but here is my 100th "ICP looking bullish" idea. :|
Either we'll see $28-30 soon, or it will bounce down the top of the triangle for awhile...I've also seen XLM drop below the yellow triangle after a breakout and then bounce along the bottom of it. :O
Keep in mind the last bottom hasn't been retested on the 1D....