I know sounds weird, why somebody should put money crypto without going deep in TA? Well because 95% of the crypto investor don't give a fuck to TA, so, for this reason, I do not believe in TA other than Fibonacci levels for entry and exits other than that this market is totally out of control.
When you deal with financial markets, most of the time you deal with other professional that you TA to take decisions about entries and exits, for that reason quite often the market react accoridng to this collective behaviour. In crypto, this is totally untruth.
If you read all TA here in TV 50% will tell you BTC is ready to go to 5K and 50% will tell you that the next pump to 23K is behind the corner.
Who is right when 50% say "it goes down" and another 50% "It goes up"? Both and none.
I strongly believe more in a very "prehistorical, emotional, dumb" TA like:
what your shoeshine says about BTC (90% of the people barely think that this entire crypto market is only BTC
news, analysis, fake news FUD and all other bullshit do not interfere with the coin trend unless you find them in GOOGLE TREND In the past hour/past 4 hours/past day. This is the real perception of the entire market.
Back to my chart:
we have all notice that the BTC that pump every day like 2017, is gone.
Now we have a more mature asset. We have a very heavy guy that is able to keep under control most of the market:
BTC goes down: altcoins goes down (General panic)
BTC goes up: altcoins goes down (general euphoria and FOMO)
BTC goes sideways: altcoins start to recover and pump= THIS WHAT WE LIKE!!!
As you can see we are bouncing back and forth from 12Kish to 17Kish in the last 3 weeks, the market starting to adapt to this behavious, most of us are screwed up from BTC , we have put money every time it start to bounce back because we think that is the time to go to 23K like in 2017 in a week, but it didnt happen 3 times and every time we are trapped inside this freaking giant while we see other freaking, stupid scam-coin start to pump like crazy with 100% per day, fuck!
Now, the diversification of the portfolio is always the best practice to adopt, personally I have 25% in ETH, XRP, BTC and 25% in medium cap coins and the other 50% in shitcoins that jump like crazy in one and then leave them on the floor after I took my profit (not real projects just speculative coins).
Based on that a sideways BTC is the best, much better the USDT, safer and, who knows, maybe it jump again one day, but I am very confident that it will never go more down than 11-12K, who is talking about 8-5-3 is disconnected from the reality.
Based on my chart know we start again to see a very slow and shy bounce back to 16-17 but nothing big will happen unless big news comes up, like lightning network operativity or new products like etc...
So, to wrap this up, don't put too much effort in TA and do not trust to HS patterns, triangles, diamond and all the other fucking geometrical analyasis, this market is based on 95% "one-neuron" brain and it reacts moslty based on emotions first!
Published just now:
and 500% rising in Google trends
Warren Buffet: Cryptocurrency Will come to a bad Engind|CNBC.
This it`s what really can hurt the market of BTC and all altcoins in general.
This guy is a guru of wealth and when he does not see a potential in crypto all the normal people out there react accordingly: sell at the deep, convert in US and get out from the market.
2 Days later, market explode, CNN make a video of `BTC 100% gain in 12 hours`...the same dumb guy that convert BTC in USD now Convert back USD in BTC to buy at the all-time high!