Had a play with baseline charting to discover where we could class the pair being overvalued and undervalued; and to spot underlying trends beyond candlestick wicks and twitter shills.
As described in the chart in my eyes it is likely we will get a play similar to the last cycle however this will be at speeds considerably slower. remember CME said they will tame bitcoin? yeah, that will tame ether too.
Megacycles like this offer insane opportunity if played correctly, without necessarily picking extreme lows and market tops which is extremely difficult especially coming into 2018 and market maturity. The MFL is popping which has co incided with the price action however this is purely lagging so cannot be used for entries and exits on a TF like this, however can spot where resistance coordination has happened in the past and help hone in those killer entries and exits.
Im excicted to see how the market progresses from here, but don't get starstruck for insane gains just yet; and remember that small cap coins can be Pumped artificially with 0% capital injection; giving a false sense of security among newer and more impatient investors, thus leading the possibility of picking market tops and not bottoms much higher and enabling the process to be repeated with a higher velocity the next time round. this can also be said for bitcoin ethereum and other large cap coins; dont load your bags to them at extreme lows. Basil
Comments and counter ideas more than welcome, discussion leads to progression
As described in the chart in my eyes it is likely we will get a play similar to the last cycle however this will be at speeds considerably slower. remember CME said they will tame bitcoin? yeah, that will tame ether too.
Megacycles like this offer insane opportunity if played correctly, without necessarily picking extreme lows and market tops which is extremely difficult especially coming into 2018 and market maturity. The MFL is popping which has co incided with the price action however this is purely lagging so cannot be used for entries and exits on a TF like this, however can spot where resistance coordination has happened in the past and help hone in those killer entries and exits.
Im excicted to see how the market progresses from here, but don't get starstruck for insane gains just yet; and remember that small cap coins can be Pumped artificially with 0% capital injection; giving a false sense of security among newer and more impatient investors, thus leading the possibility of picking market tops and not bottoms much higher and enabling the process to be repeated with a higher velocity the next time round. this can also be said for bitcoin ethereum and other large cap coins; dont load your bags to them at extreme lows. Basil
Comments and counter ideas more than welcome, discussion leads to progression
הערה:
Exciting times .. ETH has pushed on brilliantly here and exceeded my expectations; as per in the crypto space of the last Month; but is this a flavour of whats to come? As i have been trolling the chat occasionally ''Green lambo / Red Ferrari' As a joke however its fully realistic of this happening; Large positional holders who hedged LONG term shorts at the perceived market top (jan 18) into longs (april 18) could be scaling out here; back into larger sell side positions; giving the illusional effect of a market wyckoff accumulation; yet it being quite the opposite. only time will tell and we must trade the trend to be able to take advantage of the volatility but be vigilant at these levels while progress either way is not made in unity. Basil
הערה:
see that seagull forming on ETH? never trust a seagull. they steal Food and they might just steal Bitcoin too
הערה:
Seagulls can also stay airborne for a long while without landing
הערה:
Heres an idea from current chart formation to back up my analysis
הערה:
the 50/200 crossover also acted as support on the previous wave below anticipated (4)
הערה:
making moves
עסקה פעילה:
Will be keeping a close eye for support on this fib line;
עסקה פעילה:
Sat waiting patiently for buy orders to fill around my original green line target. laddered into a fairly large range to catch wicks. will be looking for support to be held here on the larger timeframe before increasing exposure to the upside. congrats to anyone that followed this trade and follow the upcoming link for the next phase of the cycle! Basil x
עסקה סגורה: היעד הושג
הערה:
boom boom boom i like abc in my room
