The megaphone warns of a correct coming
We have the late couple of days seen a parabolic move and what Isaac Newton gravity law dictates:
As the chart shows - a megaphone is setting up. The pattern predicting a deep correction on its way.
If you do not know how trade these patterns but want to make money...I may help you!
Best to your trading!
WSS
René
If you appreciate what you are presented - consider a vote or a comment. Thanks in advance!
Though I do not believe that Bitcoin is quite done yet, I agree that there is indeed a correction on its way. This will be helped along with recent delays in the process as an influx of trades and users has put a massive strain on the system.
At the same time, I am also fairly confident that the correction will benefit alt-coins as the hype of cryptocurrency is still too strong to pull the investment from cryptocurrency completely...
Thanks for your responds! It's the pattern recognition that triggers my opinion. Megaphones normally results in what you see on the chart. In the Elliott Wave theory it's known as an abc correction or in harmonic trading optic - an ABCD pattern.
Trading is like the rest of the universe - ruled by Sacred geometry and the fibonacci ratios is part of that. I'm therefor more convinced when also a principal fib ratio as the one shown gives support to the technical analysis. But.... time will tell.
Bitcoin is in a parabolic move and I admit price could continue climbing for the next fib level along the upper trendline. In that case - confirmation is always needed for a successful trade.
The toolbox for that is also part of my toolbox.
Confirmation within trading is everything if one want to be successful...and we will of cause.... ;)
I appreciate the share. The more TA perspectives we can get in here the better.
You are welcome! I'm a 11 year veteran trader having had special focus in trading the futures market. But the cryptos offers a one of a lifetime trading opportunity that is hard to resist. I have recently join the community but will follow not only the Bitcoin but all the cryptocurrencies ahead.
Nice to have some more experience in here. I've been actively trading for about 10 years and have been fully supporting myself through trading (and dabbling in a few online ventures) for going on four years now.
Oh, and I absolutely LOVE the crypto-markets!
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Thank you for the tip. I have followed you for more...
I am VERY new to cryptocurrencies, so I am still getting my bearings. I have done some Forex trading and I dabble in Binary options, but I am intermediate at best, so perhaps you are a valuable contact...
Thank you for your comment. I believe I will be able to help you becoming a better trader. Patience within trading is key.... It's the most difficult thing to exercise. I have therefore automated some part of my trading so emotion won't get in the way. I have traded 11 years and still to this day I'm struggling in not becoming too emotional. (We are humans so can't eliminate them and won't either : )
what goes up, CANT come down!
Well it all depends on perspektive what "down" is. But we agree on one thing. Cryptos will keep on going higher for years to come. We just have to take advantage of others taking profit and act accordingly.
Thanks for the song :) Cool!