Here is a HARMONIC SECRET: Always act on Pi projections! When you hit a 3.14 measured level in any parabolic move, the counter move is near. Mr. Bit is on an insane run and now hitting a 3.14 extension on the hourly chat. I don't care how great the future might be for King Crypto, as traders we must respect a measured framework. For now, I am RESPECTING the 3.14 just above $2700 as a pause. No matter what, be patient and there will be plenty of opportunity to catch the next BitRally!
If you plot that pattern now on the last leg up, being X:26-may A:27-may B:28-may and 28-may
(only way actually)
Projection leads to 4148 USD.
Thoughts?
Spread_Shark
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Technical Analysis on a weekly chart....wow. The EMH challenges the notion that past price and volume data have any relationship with future movements. Nonetheless, you are using supply/demand analysis to determine the value of a security with a completely different paradigm. Would you value the USD vs the EUR in this same fashion, of course not that would be ridiculous.
You are completely discounting a few facts, such as: 1.) this "security" trades 24/7/365 in 58+ countries with minimal regulations, the first ever. 2.) Macro economic effects of Blockchain technology, the Winklevoss' ETF, Japan's acceptance, Venezuelan corruption etc.
The fact of the matter is we cannot use historical measures to value this security. It is new, and does not behave like anything previously seen.
Hindsight is 20/20, if you could predict this stuff in advance you wouldn't need to sell subscription advice, you would be relaxing on your private island.
ScottCarney
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@Spread_Shark, it was a trade. that's what I do, I trade. Happy Buy and Hold. See you @ 1700.
nahuel89p
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Amazing. Now... where is the floor?
thuanprovp1
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I need to join group analyst chart, add me please!!!
MongkolchaiPetruecha
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That's not a proper way of using harmonic pattern. However, you take the profits GJ.
deltafox
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@MongkolchaiPetruecha Funny. You do realize that Scott Carney is the creator of Harmonic patterns.
MongkolchaiPetruecha
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@deltafox, So what about timing? Explain for me please. I just want to know more for education.
(only way actually)
Projection leads to 4148 USD.
Thoughts?