Alright, theres clearly support found and the bears are running out of fuel looking at the volume.
Next clutch of resistance can be found 11750 USD
Reminder: I don't believe in fibonacci, EMA's, Ichimoku or any other indicator, however I believe that people believe in indicators as such. My charts point out where most indicators overlap each other creating massive support or resistance since 90% of the traders put their orders around these "clutches of indicators".
Komen
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buy on blue line with tight stop loss right beneath it 1 2 3 correction pattern
@LogicalDeduction, Im basically doing your strategy btw but instead of finding the magnet points with only trendlines (and circle fib) I use the indicators most traders look to.
I think this works better short term while yours is for long term
UncannyDeduction
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@PantaiSSEY, But long term isn't the fundamentals affecting the price?
Doesn't fundamentals win (in a free market) in the long run?
Then how could my method make sense in the long term?
What I'm proposing is that the fundamentals and Fibonacci go hand and hand, almost magically.
A flower having Fibonacci pattern, or a crab having Fibonacci proportions, probably makes the organism more effective.
Just like Fibonacci patterns happens to evolve coherently with the fundamentals for investments and how it evolves in an "effective" way.
Just some thoughts...
Well done about the crash by the way. ;)
apestuffape
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@LogicalDeduction, its pretty late so mightve made a mistake
i was judging by that EOS call of yours.
I see what you mean with fib (circle and fundamentals) a fundamentals can push the asset through the fib but it inmid loses stamina like the fibs point out
UncannyDeduction
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@PantaiSSEY, Sorry the comment "Well done about the crash by the way" was meant for someone else... My bad.