Two Possible ABCD Patterns at support lines.
Updated
This analysis & strategy tends to focus on fiat growth. Guerrilla style in and out swing trades,
So be nice, these are just my opinion. I follow these analysis with my real trades. If it doesn't work out I accept the loses and move to my secondary plan.
One thing I realized is the benefit of analyzing previous failed trades. I found notes that prevented me from exiting or entering a position, and became more discipline with sticking to what I see.
I been pretty successful with VWAP and ABCD Pattern techniques while keeping a close eye on previous resistance as being new support.
The lazybear scrypt with MACDZVWAP is pretty comprehensive. Found some great signals to use with the the trade.
Macro analysis on news seems to be bearish (i.e. executives naming coins that they fear (i.e. privacy coins) and EU meeting suggesting possible regulations after G3 meeting)
But just because Gate is neither bullish or bearish, and AMEX not supporting cryptocurrency transaction, doesn't really play a role in the overall market if the tech and adoption continues to rise.
I tend to keep in mind that BTC Tech is improving heavily. Segwit integration leading to dec. transaction fee rates. Core team seems to be working on other scaling solutions (check GitHub & r/BTC).
The pattern also following a trend that is similar to the previous years around this time. (Exiting to take profit to pay for taxes maybe?)
I can never really pin point why shift in market sentiments occurs, so I stick to listening and watching the trade patterns.
Cheers.
So be nice, these are just my opinion. I follow these analysis with my real trades. If it doesn't work out I accept the loses and move to my secondary plan.
One thing I realized is the benefit of analyzing previous failed trades. I found notes that prevented me from exiting or entering a position, and became more discipline with sticking to what I see.
I been pretty successful with VWAP and ABCD Pattern techniques while keeping a close eye on previous resistance as being new support.
The lazybear scrypt with MACDZVWAP is pretty comprehensive. Found some great signals to use with the the trade.
Macro analysis on news seems to be bearish (i.e. executives naming coins that they fear (i.e. privacy coins) and EU meeting suggesting possible regulations after G3 meeting)
But just because Gate is neither bullish or bearish, and AMEX not supporting cryptocurrency transaction, doesn't really play a role in the overall market if the tech and adoption continues to rise.
I tend to keep in mind that BTC Tech is improving heavily. Segwit integration leading to dec. transaction fee rates. Core team seems to be working on other scaling solutions (check GitHub & r/BTC).
The pattern also following a trend that is similar to the previous years around this time. (Exiting to take profit to pay for taxes maybe?)
I can never really pin point why shift in market sentiments occurs, so I stick to listening and watching the trade patterns.
Cheers.
Trade closed: target reached
Shifted my ABCD Pattern to a closer target after BTC tested 10275 multiple times. Entered my trades last night during the Overwatch competition I was watching. Needless to say target is reach, will probably look to see if it breaks out of 11200.
Large buy walls coming so taking profit off the table for now.
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