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Composite man is a joker! Another Musk tweet - People pointing fingers and crying. If a tweet is an indicator, then it might be worth choosing another sport. It's scary to see social media posts about "i've lost this, that and the other" Musk - was only a short time ago, the Super Hero . It's funny how that changes when it's not with people agree with. Plain and simple - Risk management is key, your own due diligence. Make yourself sheep and the wolves will eat you. Benjamin Franklin For those of you unfamiliar with Wyckoff - he speak of the composite man, specific schematics for distribution and accumulation. These are designed to play with retail traders, although a lot is done to themselves. Human psychology plays a huge part in trading, fear, greed, passion. The desire to be right, you wonder why you let losses run and take profits early? The green numbers over red, trigger this emotion. Brokers & Billionaires are not there to make retail traders rich. Elliott methods (100+ years old) shows that a wave 4 correction move is similar to Wyckoff, whereby it's aggressive, one way and then the other, it's slow and painful (2 can also be like this) but 4 you see more often. Everyone is a genius in a Bull market. In the stream from today (here's the link) www.tradingview.com I spoke about some other scenario for ETH (only an option) but worth keeping in mind. If you ever wondered what the composite man looked like - see the main image! Enjoy the weekend! 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.
BITSTAMP:ETHUSD
by Mayfair_Ventures
5
📊How Elon Musk has influenced the price of the Dogecoin?April 9, 2021 📌Investors in Doge expected that at the entertainment show Saturday Night Live Elon Musk will continue to talk about Doge, thus contributing to rising prices. 📌Elon Musk instead answered the question about Doge: "Is this a hustle?" answered "Yes. This is a hustle" thus causing the price to fall by 26% in the first hour as shown in the chart May 11, 2021 📌Elon Musk asked his followers on Twitter if Tesla should accept payment for Tesla in Dogecoin. 📈Price: + 15.7% per hour May 24, 2021 📌Elon Musk called for involvement in the development of Dogecoin on the Github 📈Price: + 11% per hour June 2, 2021 📌Elon Musk dropped a picture of a doge with the inscription "I have to keep my passion hidden from the public or I'll be socially ostracized." 📈Price: + 8% per hour. 💡From this follows the riskiness of Dogecoin as a means of investment and the impossibility of conducting a fundamental analysis of this coin.
BITFINEX:DOGEUSDLong
by Volodymyr_Ilkiv
2
Ethereum ETH possible REBOUNCE to 3800 and find out why!Hello dear traders, Here is another update for Ethereum ETH-USDT (on the 1 hour time frame chart), after the hefty price movement of the last few days. I would like to share with you these possible scenario's. As said it is a hypothesis, a way to see different views on price action. It is not an advice to trade! I see Ethereum forming the formation of a small head shoulder pattern . Ethereum is still forming the right shoulder at this moment. Only when the price goes through the red neckline the pattern is confirmed. What helps here is that from the head (HS) to the red neckline I see a massive volume. That means lots of traders are still very bullish and believe price will go north again. The other scenario is that the price bounces off the neckline and further drops to the bottom of the descending trend channel. My analyses with the Diamond and the head Shoulder formations on the slightly longer term are still perfectly valid. In short. I expect a rebound of the price to max 3817 USD after which we will dive again. Only if we break the neckline in the chart upwards with good volume of course! If this will not happen than we will almost certainly go further down with a first target of 2873. Lower targets will be discussed later. For now: Resistance 3817 Support 3510, 3161, 2873, 2465 and 1948. Price up after trendline break to the upside and price down if the neckline will not be broken to the upside! One last important remark: This is the one hour time frame. Prices can go up and look bullish while on the Daily time frame it is all bearish. Prices move in waves. This could be a scenario that price rebound because it is oversold. The longer term is still very bearish now! Keep this in mind if you take your positions! This small H-S is still valid until it breaks the low (head). After a move lower than the head we will have a high probability the lower targets will be hit. Traders, use your stops and your money management! This is not trading advice but my personal take on Ethereum. Tradings idea's for traders can be different and that makes this always a challenge. It is not a game but a way to learn and to make profits. I f you appreciate my work it would be nice if you would follow me and give me a thumbs up. That motivates me to continue and help others in these markets. Wish you all good profits!
Long
by PegasusTechCharts
12
DOGECOIN TO $1.00?! - BULLISH ANALYSISAs shown in the chart, Doge is currently holding above a strong uptrend line and bounced off a support level around $0.37. I also ran my Fibonacci tool from the most recent swing low at $0.158 to the swing high at $0.74. Price was in between the 0.5, 0.618 golden zone. If you zoom into the 1h chart, you can see a double bottom pattern as well with both points bouncing off the 0.37 support level. Not only was there a double bottom pattern, Elon sent out his tweet that day on May 13/2021 mentioning that he's working with Doge devs. Price then pumped to $0.50+. Despite all the crap Elon talked about Doge on SNL and the following dump in price, I did not think price would fall below the $0.35-$0.40 area, so it was a definite buy.
Long
by Currency_
Why ADA is pumping, and some reasons to be bullish.Today, Cardano has capitalized on the FUD around Bitcoin and its energy usage. Cardano has worked very hard to position itself as a green, sustainable blockchain. (Just google 'Cardano Sustainable' for examples of that). Musk, in his now infamous tweet, mentioned that Tesla would be considering more energy friendly blockchains for use as payment. Now, back when Cardano did the Mary hard fork, Elon tweeted a picture of a fork - many believe in reference to the Cardano milestone. Putting the pieces together, Musk is looking for a greener blockchain. Cardano is well positioned for that - and signs are that Musk has supported Cardano in the past. This is why ADA is pumping today. Of course, it's widely assumed that very few people actually used their Bitcoin for payment for a Tesla - but that's not the point. The name of the game is sentiment, and Musk threw some serious shade on Bitcoin. Love or hate the guy, he moves markets. And it's an interesting pivot - potentially towards Cardano. If Cardano delivers on their commitment to release the Alonzo hard fork this summer - making it a fully functional smart contract blockchain - there is a path to big things for ADA. Most especially if Etherium's EIP-1159 is delayed or doesn't go as planned. As is, Etherium is running out of time, and Cardano hot on its heels. People's patience for unusable transaction costs is stretched thin, and many view EIP-1159 this year as a make or break for ETH. If you imagine a scenario where Musk endorses Cardano, and Cardano's fork goes as planned this summer - things could get very interesting between Cardano and Etherium. Especially if something goes wrong with the EIP-1159 upgrade, or it gets delayed again. As of writing this, ADA is testing the 1.618 fib at $1.95. If it makes it through, it's pretty clear sailing through around $2.50. If it doesn't break through, expect it to trade between $1.55 and $1.95 for the foreseeable future. Barring any other crazy news of course.
KRAKEN:ADAUSDLong
by holorobo
7