So...this is a placce where I'll be posting some ideas on BTC. What I see...sometimes what I think will happen...but mostly this is a place for LEARNING. I'm new. I'm a noob. But beside the prospect of making $$$ this whole trading thing, this analysis and market reading has really captured my imagination. What a tool it is to be able to read market sentiment based on some pretty lines and beautiful colours! Sometimes....we can even predict where sentiment is heading and how that relates to price action.
I toyed with the idea of doing this privately (many of you will think I should have)...but why not make it an open forum. if you are a noob too...join in. Lets teach each other something. Maybe you are an OG and you wan to school us? That is also very welcome.
I have for sometime now thought, for no other reason than it looks to me to be pre-parabolic madness, that we would pull back into a trend line from around April to Sept 2017. My fib retracement is setup from Sept low to all time high and my pitch fork is setup from Sept low to 6k low and 11.7k candle in Feb (the chart is on weekly). That line is now on shaky ground. I believe my fib setup works. There has been alot of action around the 62 and the 38 (or I should say in between). However my pitchfork is now being tested.
Am I prepared to call up or down? No. Funny times right now. Lots of jumping up and down in price. Lots of manipulation from shorts trying to clear out longs and vice versa. There is a real game of cat and mouse being played out and the players are far more talented than I. For my money (which is what it is) we wait and see.