SpartaBTC

ETH / BTC Symmetrical Triangle. Past idea + 55% Psychology

BINANCE:ETHBTC   Ethereum / Bitcoin
ETH / BTC After breaking the downtrend line of the main trend and fixing the price above it, a symmetrical triangle began to form. Price shrinks, volatility decreases.

I have been trading this pair periodically for a long time. Some years.
I mainly use asynchronous arbitrage between BTC / USD ETH / USD ETH / BTC pairs.
How to do this is the idea of ​​learning on a live chart between the pairs BTC / USD, XLM / USD.

The pair has a very large liquidity, therefore it is rather difficult to make surprises of manipulation.
It is easy to gain and lose a large position without spending a lot of time on this action.
The ideal pair for working in a large position in the risk / profit ratio is precisely in money due to a large position, rather than a% profit in comparison with other liquid pairs.

Due to good liquidity, a large position can only work out of a few Stop Loss without significant slippage in price. Therefore, it reduces losses if the price goes against you.

Funnily, the two highly volatile ETH + BTC instruments are merged and as a result they extinguish their excessive volatility .
Liquidity + ETH + BTC = at the exit gives ideal volatility , and as a result, predictability of prices with minimal risks.

A risk-free pair in trading, well suited for beginners, especially those who look at the exchange once a month and are not infected with the mass destruction virus of hamsters called "XXX for the poor fool." I recommend for trading to those who do not want very much, but consistently earn money and do not spend a lot of time on it. Also, those who do not want to learn to trade at all. On this pair, you do not need to have much knowledge to understand where the price will go and under what conditions. Profit / risk is always in the perfect ratio.

Market entry + target
There is no good entry point right now. The situation for observation. But a very good entry point will be. It is when the triangle is formed. The width of the base of the symmetrical triangle is 41%. Therefore, the full working out of this figure is about 40%.
Entrance to the side of breaking through the triangle on a breakthrough or rollback after a breakthrough. A couple can work both long and short.

I want to emphasize that the resistance of this triangle is also the resistance of the main downtrend. A break of the triangle up and fixing the price above it will mean a reversal of the main trend. And that will launch ETH closer to the orbit of Mars. And then various news “about saving the world” with the help of ETH will appear, technologies based on ETH, which have been ready for several years, but there is no suitable time for their implementation, will be introduced.

Stop loss
Who uses them in their trading strategy. Under key support levels during your entry into the market.


The previous idea for this pair yielded + 55% profit for such a highly liquid coin, which is not so bad.

ETH / BTC . Work on a coin. Reversal zones. Double bottom .


All target taken + 55%


Also, under the idea, I fixed all the trading ideas of this pair for the year.
In them, too, I took profit from most of the main price movements.

I want to note that I attach a lot of time to the description of the idea in order to convey the idea to those people who don’t know how to trade or think that they can, but for reasons that they don’t understand, the price always goes against their expectations.

To learn how to trade and understand the market, read the description of what I write in ideas and not just look at the chart. I make a description and an algorithm of actions that the student can learn and earn. It takes quite a lot of time. I want people to learn to think. Just think, not copy. Perhaps I will be able to kill at least a percentage of people a hamster.

I always make updates in a trading or educational idea (which I always do on a living example of trading) so that a person understands why profit is taken and why not. This is very important, as without understanding the reason a person will not be able to "read" the market.

1) Remember knowledge without skills is zero!
2) If you are not confident in your abilities - work with a symbolic sum.
3) You always have time to earn money in any market, if you have the knowledge and experience.
4) If you earned money from someone else’s trading idea (and I give it money), but didn’t understand why and under what conditions it happened and don’t try to understand everything yourself - you are doomed.

There should be a strategy and plan. At the same time, your strategy and plan should be plastic from market situations.

More information about trading, psychology, sociology in my telegram channel SpartaBTC.
Comment: + 11%
We approached the important zone. A breakthrough of this zone and consolidation above the downtrend line of the main trend will mean a reversal of the main trend.
Comment: + 11% + 16% Local uptrend is developing
Trade closed: target reached: +11 +34 = +45%

Comments

Excellent analysis. Liked!

I expect BTCUSD price to move slightly up today, supported by RSI (4hr) and CCI (4hr). The analysis is based on 28 technical indicators, on 4hr chart. Do share your thoughts :)
+1 Reply
Mudrex Mudrex
+1 Reply
@Mudrex, there is a possibility of this price movement.
+1 Reply
@Mudrex, Thank you for sharing
+1 Reply
"The Mass Destruction of Hamsters ! '
That's quite a phrase ! Good idea - I'm holding a bit of ETH and I'm going to trade it more carefully now for the next 3 years
+1 Reply
SpartaBTC shimmeringpath
@shimmeringpath, "The Mass Destruction of Hamsters ! )))))) so it has always been, is and will be.
Reply
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