As many of us I am new to the crypto-blcokchain world.However I have a few years experience, trading the stock and future market in my home country which you bet theres lots of speculation and situations like this (so hopefully those years sitting and nail bitting and learning would pay off haha). And as in many market everybody enjoys when the tide rise, but those who survive major correction are the true winner in the war of finance. As I am writing this article this is the correction I was participating since 5600-8000, 9000-12,000 area only for it to happen at 17,000. The question where its gonna be over? Or is it the end of the era which it enjoy such a long unusal run.
1 is there any real application? 2 is there scaling problem? 3 is there really much anticipated mass adoptioin? 4 is it legal? 5 is it bubble of the new era? 6 are the communities exploiting small new investor? 7 can it replace fiat currency? 8 does it have any real monetary value?
But please remember not so long ago, some countries still uses certain seashell or rock as mean of exchanging and storing value. To tell you the truth I dont know. So as a trader I try to use a very simple TA to see whether I will be around trading this market.
There are basically 4 demand zones black, blue, red and green
black which is where we are now 13,000-17,000 blue 10,000-13,000 red 6,500-8,500 light green 4,500-7,000
So theres much fear and aticipation that the future market will rock this boat. As far as I know these guys are paid by commission and using there advance computer and bigger fund to their advantage. They get profit sharing too, so if this whole market is gone nobody is going to benefit, so I dont see that. But what they would do is they would short an asset class so hard that it will scares the new comers and those who doesnt have enough experience or knowledge away. Or they would short it so hard that the price drop below certain point where most small investor are forced to give up there position. And they will recover their position to get both commission and profit sharing. So looking at these four areas the price will try to find the equilibrium in the near future. Thats why I stressed so much in protecting the capital and locking the profit when you can (because most of us cant outrun and outfund the big guns). Personally 13,000 is good support to go long as, but a smaller portion should be use in case it dropped to another zone. I see the first two zones are the possible zones and where we are now is 618 fibo level of current up swing. Whats your thought?
Dagangan aktif
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Seems like BTC choose to stay in Zone 1, Heading for ATH, lock your profit constantly.
Dagangan aktif
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revisit the trend line it broked up previously, i am looking for a rebound here
Komen
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about 180000
Komen
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sorry 18k
Komen
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next candle must not have new low for it to stay in zone 2
Dagangan aktif
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zone 3 is in play, zone 4 is possible and even it comes down to 5,500 in zone 4, the overall trend is still bullish, be patient and let the market come to you or buy at higher price but you got the confirmation, dont lose money trading small signal.
Closely following now the LTCBTC par as it seems LTC is gaining momentum. Wonder if it will ever get to the .02 ltc/btc, its being gaining space but not sure it will ever go that high.
Local_Trade_PTY
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Thanks for your reply. Im not a pro at all at trading. I've been mining litecoin and made some trades with bitcoin recycling the money between ltc and btc to take advantage of the ltcbtc par ratios so I can multiply my btc. I have also put some fiat in to get more btc.
I have made my own technical analysis, but I read a lot the fundamentals and I also pay a lot of attention to other people's tech analysis so I can have more context and make the best decisions. And based on your analysis, what I would like to understand is if you still think there is a chance to buy in the lower demand zones you have established. I was waiting for the 13500 demand zone to happen again since I was dumb enough to go to sleep and not buy when it started to signal that it was going up again... Just wondering if I will get a second chance to buy there or even further down such as the red and green demand zones...
Ronnaritta
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@Local_Trade_PTY, everything is possible in this market, as I don't follow the news too much because it would causes bias in what I see as a technical trader (which is perfectly great if anyone does follow the news and study the fundamental) but I am not a it guy and have shallow understanding of such so i stick to what I know best.
For your question I think we still can see the 14,000 is still possible which I think is a good buy 13,000 would be a bit deep but yes possible but of course lesser than 14,000 in my opinion. There's also a chance where it will go and test 18,000 and correct to 16,000 again.
As a trader my strategy is to protect my capital and grow my port so that the smaller bite size becomes bigger over time. So if I were you I would divide my money into at least two to three portion in case any the above scenario plays out.
Hope this help and thanks for the questions and follow.