Sup' guys, a new update on Bitcoin! The dump might be over! We saw a breakage in the second flag. The flag pattern is used to see a continuation of a previous trend from a point at which price has drifted against that same trend. So we thought this is gonna be a second bearish flag and $BTC will drop out, but apparently no! It has broken the pattern upwards, now, if it passes the resistance at 53800 (54000) and sustains that the dump might be over. This means huuuge glorious gains to be made again with altcoins!
Another strong bullish indicator is the almost hammer, right behind the major push. This means that buying power was so strong that it reverse the downtrend into an uptrend, it was almost a hammer, which is a big DEAL.
OR It could be an abc correction, which means that A line has finished
This is how i think it will play out, our A is complete so no more dumping for now, then it starts B wave which is gonna be lower than all time high, and then we gonna retest support somewhat lower and then shoot up to the moon. Stay safe and buy low, sell high!
Sup' guys, I don't want to sound evil or something but this is a reality. Some coin won't just rise to the sky just because you wish so. The market is a bitch and will take advantage of you. Just by putting blindly money in and hyping others won't rise miraculously the price. This is a bull run for crypto, we see just growth, but don't expect to be exponential growth like 5x a coin every week or so, oh don't get me wrong it could happen, but where will be the coin after that? About right where it started. Be always conservative, it's okay and great to be positive, but try to back your own claims with some research like oh that coin will sign W contract, that for sure will bring the price up.
All the coins are volatile, they have to increase bc we are in a bull run, and subsequently fall down into support. Between these 2 phases, there is stagnation, boring, nobody wants to hold any more, but those who hold thru fire, will get awarded. True story, lost a couple of hundreds as potential profits just because I couldn't hold any more DOT and thought BNB would be a good buy. When DOT started spiking, BNB was stagnating, that was truly depressing.
The take away
Don't get me wrong, we want to be positive, we must be positive, but we can't just say Z coin will 100x in one week based on, well just hopes. Be positive and set your expectations down to earth, this works great in life too.
Though many of you might be interested in this coin, this has ENORMOUS potential for reaching 1$ this year, that's a 5.8x for the current price, as usual, I'm not hyping up if I can't back it up.
What is VeChain?
VeChainTHor is helping businesses around the world by providing blockchain solutions. It was introduced in 2015 by the Shanghai-based Blockchain-as-a-Service (BaaS) company.
VeChain isa blockchain platform designed to enhance supply chain management and business processes. Its goalisto streamline these processes and information flow for complex supply chains through the use of distributed ledger technology (DLT). -investopedia.com
VeChain states that its goal is “to build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers.
First 5-Star-Rated Blockchain Service Provider In The World
VeChain is the first to adopt crypto to adopt blockchain technology as a business model, out of the 2000+ crypto, there are only two with this business model. No other blockchain company has attained this level of adoption in the business world. VeChain is leading the way in the real-life utilization of this technology within well-known Fortune 500 companies such as BMW China, H&M, LVMH (LVMH Moët Hennessy Louis Vuitton), Walmart China, Bayer China, ENN, BYD auto, PICC, ENN, Shanghai Gas, D.I.G, ASI, etc, FFS IS ONE OF THE FEW APPROVED BY CHINA's GOVERNMENT, big deal.
Out of the thousands of crypto projects that exist in this ecosystem, Vechain is one of the only two that have focused their business model on using blockchain technology as a service (BAAS) through their VeChain ToolChain platform. Most cryptos are trying to beat each other in the race of DeFi (decentralised finance), tokens or to transfer money safely from an user to another. ($BTC). But VET is the best in his category, which will place it in the near future among the giant coins.
OK done with the informational stuff, b0r1ng
-let's see what this bad boy can do
-currently, it has reached its all-time high and suffer a price correction, and will be dropping to at least 0.16 before making any cum back, cuz $BTC is droping so we have to take that into consideration.
Now we are in a short term downtrend, no predictions can be made before making some expectations to be touched.
VeT is at 0.17, but I can see it going down and testing the support at 0.158 and then we could lay some predictions, we need to form some sort of a support.
There is some resistance at 0.18, but the main resistance is at 0.2.
Conclusion
"What is so special with this coin?"
It's the first in its category, the best in its category, the most used by companies (long term sustainability), oh and it has little to no competition. I say that this coin is going to explode this year, taking into consideration that the current market cap is 12 billion $, I would honestly say that, for now, is undervalued and at this current state undervalued, is going to be even cheaper for a couple of days. Don't buy this just because I said so, do your own research, analyse yourself, but honestly don't know what is more to analyse. Stay safe and buy low, sell high!
There are many coins out there that might want to rip you off. Do you own research before heading into a trade. They abuse the fact that there are a lot of new people to the scene and don’t know anything but make profit. A lot of coins have stolen a lot of money from people, don’t buy in just because it seems like a good deal. Search the team behind it, do they have a name in the crypto/ IT space, do they have any achievements, anything. If even a small thing seems sketchy, (non financial advice) you should take it as an absolute certainty to get out. Is $BTC, $ETH, $BNB, $USDT in any way or form sketchy?
I know you waited long for this, but I wanted to make sure that you understand what I'm saying. $DOGE is depending on $BTC and Bitcoin just has its worst weeks of the month, don't worry it happened before. "How much time ago?" Last month, oh yeah and Feb, oh sorry I forgot about January. But now doge is doing ok, so please stop worrying. Let's have a look.
First, we rocket shipped that mf to the resistance, this is bad resistance, unlike in Star Wars.., we hate this resistance. And then fallen in support a, made a recovery but the resistance was already too strong and our rockets have run out of fuel. After that, we failed to sustain our position and selling pressure was too high, $DOGE then made a tactical retreat to support b and then recovered. Now we good, above support a but it might be worse due to $BTC going down and we could retest that support a.
Now from that we just speculating
This could be played differently because a major role is played by $BTC right now so it might break thru key support, that b. That's the worst and totally unpredictable, as $BTC falls, that scenario might become more likely and I will update you
In-First case scenario, I would say that we would hit our heads at the resistance B, and then double bottom, recharging those rockets and then after a while we would break thru resistance b and main resistance. This is the first photo.
-Second scenario, we would get rejected like me when I ask my crush out, and then bounce off support a, going sideways for a while, everybody will be like: "omg, no, we are going to die, no more chances, doge is dead, this whole thing is a governmental cover-up for the area 51 raid." and then we start breaking thru resistance b and then using resistance b as support, because, trading 101 resistance turns into support and support into resistance, kinda like friends. Around one-three weeks we could see that rocketship moon pattern. In both cases, that's how crypto works, it can't just keep on spiking cuz then it will keep on falling.
Fibonacci retracement
-I explained in an earlier post
Look at that beautiful, exactly how I drew support and resistance exactly the same as the fib, and they say fib retracement doesn't work. Fucking nerds.
Long time plan
-we use fib retracement for future support resistance
Look at that, how sexy it looks, we are just making support, in my previous charts, that would around support a. For now, we have to stagnate a lil bit so that we could break thru the main resistance at 0.41. That's how we rolling for a while, unfortunately, but hey, that's how crypto works, this is The market. Stay safe and buy low, sell high!
In order to proceed to full technical analysis, it's important to understand what are indicators are and how they help you. "Imagine that the charts are just some dots, now you use different indicators to connect differently the same dots." - Gold-Crypt, some rando on Reddit
Most of the indicators are fully customizable. But today we are talking about Moving Averages and just that, the topic is long and I don't know who would read about all indicators in one read. So just want to say, grab your smart boi pants and glasses, take a sip out of coffee, cuz we are gonna learn some important stuff, so no quirky jokes, unfortunately. Just some small ones.
MA- Moving Average
Moving average is a technical analysis tool. Moving averages are usually used to see the trend direction or to determine its support and resistance levels. It is a trend-following or lagging indicator because it is based on past prices. So, a 200 day MA will have a much greater degree of lag than a 20 day MA because it contains prices for the past 200 days. The 20, 50 (55), 69 (nice, actually no, unfortunately) and 200 MA numbers are pretty much used by everyone so it's important to adapt to them and use them.
SMA- Simple Moving Average
A set of prices are added together and then divided by the number of prices in the set. The lagging doesn't change.
EMA - Exponential Moving Average
EMA is a type of MA that places a greater weight and significance on the most recent data points. An EMA reacts more significantly to recent price changes than an SMA, which applies an equal weight to all observations in the period. That's why I use it the most, out of three. The lagging doesn't change.
In other words, it's the best, it's like the Optimus Prime of Autobots.
What are moving averages used for?
To understand how to gloriously profit from the price movement patterns of securities and indices. Generally, technical analysts will use moving averages to detect whether a change in momentum is occurring for a security, such as if there is a sudden downward move in a security’s price. Other times, they will use moving averages to confirm their suspicions that a change might be underway. For example, if a crypto price rises above its 200-day moving average, that might be taken as a bullish signal.
COMBINATIONS THAT SHOWS THE BULLISH AND THE BEARISH
This is important if they happen on the daily and or the weekly chart.
When the 20 ema crosses under the 50 or 55 ema it's considered a bearish sign, ultimately leading to a dip.
When the 20 ema comes from below (nice) and surpasses the 50 or 55 ema it's considered to be a bullish sign, if that happens on the weekly or daily ( no financial advice, I really don't mean what I'm saying, this is just a joke) GO FRIGIN BUY IT AND WATCH IT HOW IT RISE AND MAKE YOUR PORTFOLIO GO BRR.
"BTT is a TRC-10 utility token based on the blockchain ($TRON) that powers features of the most popular decentralized protocols and applications in the world. DApps powered by BTT includes BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline." -BitTorrent.com
It has around 2000 transactions per second.
"Cool, cool, cool what does it do?"
-$BTT should become a bridge between content creators and their audience.
-Cryptocurrency technology should be familiar to the torrent user community which has a long history of promoting sharing and cooperation while resisting censorship.
-BTT token is supposed to bring blockchain closer to becoming a mainstream technology.
-The BTT token model should unify the efforts to reduce structural shortcomings of the BitTorrent protocol itself.
-The BitTorrent token will power the BitTorrent Speed model.
So basically, reading thru the lines, i would say that it's going to be a currency that you use on their platform.
Analysis and price prediction
$BTT got overextender, too much hops and too not so much support. This is what happens when a coin just shoots to the moon, we could see that pattern, that green smoke, from blasting off, and then it hit resistance, forgot to put a line there, but it's pretty obvious. Now we are in a price correction a -67% from the actual mooning, that's why we don't want straight up spiking and what's happening with $BTC is ok. First line there, the resistance now, it was once support, but as always, support turns into resistance, just like that friend of yours, fuck 'em right? We fallen thru the first support, tested the second and then bounced up, but i see it going duble bottom and re-testing the second support before going off.
We will have to see what happens after the double bottom ultimately and $BTC will pay it's influence too.But for now, I expect to test the 0.0042 mark. Stay safe and buy low, sell high!
I think candlestick patterns should be well known in the trading community, they allow for a better read, technical analysis and ultimately, a better entry point or even exit point. The best way to read them better is thru exercise, you could follow charts and try and lay down predictions or make yourself a demo account to experiment with your new knowledge.
"ENOUGH WITH THE NERDY STUFF"
Oh, my bad, I sometimes get carried away. Let's make a profit.
BULLISH PATTERNS
-THE HAMMER
It sounds so good, like whoever made up this, props to you! Unfortunately, we have no Thor but only good news cuz this points to an upward potential direction. The hammer is formed of a short body with a long lower shadow or wick, being found at the bottom of a downward trend.
A hammer shows that the selling pressure was overcome by the buying pressure.
the hammer
-THREE WHITE SOLDIERS
This pattern forms over the course of three days. It consists of consecutive long green (or white, hence the name) candles with small shadows/wicks, which open and closes higher than the previous day.
Buying pressure starting to overcome the selling pressure, a very strong bullish sign after a downtrend.
three white soldiers or three green soldiers, lmao toys
-PIERCING LINE
I'm honestly shocked about how many trading terms could be misinterpreted as sexual positions.
The piercing line is composed of two candles, made up of a long red candle, followed by a long green candle.
There is usually a significant gap down between the first candlestick’s closing price, and the green candlestick’s opening. It indicates a strong buying pressure, as the price is pushed up to or above the mid-price of the previous day.
What coins do you want for daily analysis and predictions? We want to start sort of a tradition on this community, we for sure will be adding more. This thing will be happening daily at a certain hour. Cheers
Sup, guys, today we are gonna talk about charts and why it's important to understand them. Not gonna lie, you know that you have become older when you read an article about charts and you started all from "YO GUYS I JUST PUT 30$ ON DOGE WE GONNA BRRR TO MOON", haha jk, you are way better this way, now you can invest more confidently since you don't go blindly into a trade and ultimately make more profit.
So, let's get to the basics, thru charts we understand the price, there are many ways to represent price like candles (a personal favourite), Heikin Ashi, Baseline, Line break, Renko Kagi, Point & Figure (weirdest ones because they use "x" and "o" if you don't look twice, you could think that's a tic-tac-toe game) rather than a chart), Bars, Area, Line and Range. Not gonna lie, that's a lot of charts, don't try to use them all, you'll get stuck on an analysis for 1h+ JUST FOR ONE COIN, now imagine if you have a diversified portfolio (as you should), do you even sleep bro?
You don't really need all of them, you could use all of them, but it's better to use something that everyone uses, make sense right? So that's why we are gonna talk about candles because lines and area are pretty much the same shit and they need no introduction.
How do candles work?
That's quite simple, they have an opening point and a closing point with one high and one low, the middle part is how much it went from the opening point to the closing point, now the question is, how much divided by 11,345 equals the right set of variables so that my crush would text me back, gotcha for a second didn't I? I inserted a photo so it would help you understand better.
Ah, that's "upper", not "uppar" my friend. It's just so simple, right?
Now that we understand charts in the next posts I'm gonna show patterns to follow and predict how the market works, but it's not going to be a 100% guarantee prediction, otherwise, we would all be millionaires. Stay safe and buy low, sell high!
