Strong Bear pressure (again) as price reached the trend line I was talking about (see the related idea). Clearly, market participants have spotted this trend line. I can't wait to see what will happen if we price breaks it.
My trading strategy is closely related to the fact that I have a bullish bias. The bullish bias doesn’t mean I am ready to buy any price for ether but rather that I am trying to find the best entry for my longs in terms of risk-reward. It is a decent price to buy ethers from a risk-reward perspective. If you want to be more “agressive”, you could even set a higher...
When it comes to trend analysis, one of my favorite tools is Andrews' Pitchfork which tends to give really good insight on the state of the trend.
I have to admit I had lots of trouble dealing with long term analysis of cryptocurrencies using pitchforks until I tried to display the charts in logarithmic scales.
When you think about it, it totally makes sense to...
We are entering an interesting area to think about going long again on Ripple XRP.
It looks like the corrective phase is forming a double zigzag (WXY).
I am waiting for a clear price reversal before going long.