Price bounced from 2440.00 level and we can see a double bottom chart pattern. It's a reversal signal. Aslo the price reversal is confirmed by a bullish divergence formed by price and RSI. The market gives us a signal that probably it will rise in short term. If price can breaks the signal level above 2620.00 we'll get a confirmation for further upward movement. Stop orders must be placed below 2400.00 support level. Profit targets are at 2800.00 and 2900.00 resistance levels. Be careful with any trades in any crypto exchanges within these days. Segwit is coming.
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The market dropped to 2400.00 support level. It's a reversal zone. For confirmation of an upward movement price will have to break the signal level.
While i really do appreciate you skills and ideas, i most admit that the last couple of weeks have proven to do exactly the opposite of your suggestions. Not only yours, but every single kommen tradesignal have been turned around almost instantly, catching shorts, margin trades both long and short. I do realize that the whales are controlling the game, but this seams very very manipulated. Is it the same with FX?
elkirill
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@postforsberg, i think what still working rule: The majority loses, the minority wins. Means market goes to opposite lot of people
postforsberg
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@elkirill, You are properly right. But there must be some skill to this game or we are just rolling dice. No reason to be TA-trader then. But i dont know.
Mannaio
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@postforsberg, yeah the biggest skill is the pacience and discipline all the rest comes after
Zigganaut
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@postforsberg, I think the FUD surrounding BTC and alts is doing inexplicable things to the market which TA doesn't pick up. I don't doubt there is some manipulation but also a lot of inexperienced people throwing their money at this game also causing chaos with traditional TA
elkirill
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@postforsberg, yep
main skill is understanding how the crowd thinking
CedricAubergeduSoleil
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@elkirill, ... and this implies as well reations to News as BIP91 activated, followed by ViaBTC creating a new centralized by one mining pool altcoin using the reputation name of the Krypto's King, today BTC-e down...
Chart analyses gives a clue of reations to past news, but fresh news can disrupt predictive chart analyses I think.
Tamadon
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@postforsberg, I think it's a matter of timeframe. You can check @EXCAVO if you want another perspective.
postforsberg
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@Tamadon, Thats is a very good observation. I do follow @EXCAVO and he´s great.
AKM777
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@postforsberg, You're 100% right, I've been watching the trades on coins like litecoin, you can see the same trades for the past 3 days now, so it's like 3 people controlling the whole game.