This is analysis uses Spectro™ M
Any trader who fools around in cryptocurrency will know enough to tell that Bitcoin and many other cryptocurrencies are going through some life or death situations.
ETF rulings delays, massive dumps and extreme market manipulation, lack of technological advances, bigger mainstream applications, and much more - let's keep it simple.
So the overall sentiment is uncertainty which means up or down is flipping a coin right now, we need a pivotal situation to change this sentiment so we can observe a longer and more stable trend reversal - from bearish to bullish.
When times are like that, TA can come in handy, since it basically reads the behavior of the market it can be quite useful for predicting shorter-term trends.
I bought in AVG 6100, and I just took my profits at 6500, why?
Let's start with the bad stuff, overall sentiment is fear and uncertainty, so that makes me more conservative when longing/buying. + 2 Bearish Points
We are near a strong resistance, +-6500. +1 Bearish points
Now the good stuff, I'm using Spectro™ indicator which covers all the reversal indicators, warnings, pivots, entry points, exit points and etc, etc.
It just makes trading faster since I don't need any other indicator and I can analyze multiple assets with one look.
Keeping it short, the Trend Analyzer uses the background color, and it just turned from red to green which means that an uptrend just started, it's young so it's not strong yet. +1 Bullish Point.
The Spectro™ Oscillator, predicts price behavior and trend strength, it's the line that is crossing the price and changes colors, further it is from the price stronger the trend, if it crosses the price the trend reverses that's what gives you the UP and DOWN entry points. We just had a UP alert, so +1 Bullish Point.
Those beautiful "christmas trees" triangles under is Spectro™ telling you that he read 20 indicators(RSI, STOCH, BB, MFI, OBV, CCI, etc) and they all agree this downtrend is going to fast and it's oversold. + 1 Bullish point
Those green/yellow clouds above the price are the Specter Clouds™ and they not only forecast that the movement is getting out of its "healthy" zone and a readjustment is to come, if you measure its peaks it will tell you where the price should be back to. If you go back and check the chart you will see that when the clouds start to appear the weather changes after and if you measure it you will see how often it also obeys support and resistance lines. When it turns yellow it means that it's coming out of the unhealthy zone and when trading dips it can be used as an entry signal tool. +1 Bullish point.
Now using the Spectro auto pivot system, we are using the full Fibonacci mode, you will see that if the uptrend confirms we might see another 6% run to 6800-6900
So we have 3 Bearish points vs 4 Bullish Points, therefore it's a close call. I don't like it. Especially since I come from a buy at 6100, close to 6% profit, the next run has a big down size too since the closet STRONG support is -6% so that's a 50/50 RISK:REWARD, I don't like that either.
What I'm doing next is observing the chart, if it after a couple candles the price consilidates and starts going up Ill go back in, using a smaller timeframe for optimal entry.
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org/spectro-indicator/
Any trader who fools around in cryptocurrency will know enough to tell that Bitcoin and many other cryptocurrencies are going through some life or death situations.
ETF rulings delays, massive dumps and extreme market manipulation, lack of technological advances, bigger mainstream applications, and much more - let's keep it simple.
So the overall sentiment is uncertainty which means up or down is flipping a coin right now, we need a pivotal situation to change this sentiment so we can observe a longer and more stable trend reversal - from bearish to bullish.
When times are like that, TA can come in handy, since it basically reads the behavior of the market it can be quite useful for predicting shorter-term trends.
I bought in AVG 6100, and I just took my profits at 6500, why?
Let's start with the bad stuff, overall sentiment is fear and uncertainty, so that makes me more conservative when longing/buying. + 2 Bearish Points
We are near a strong resistance, +-6500. +1 Bearish points
Now the good stuff, I'm using Spectro™ indicator which covers all the reversal indicators, warnings, pivots, entry points, exit points and etc, etc.
It just makes trading faster since I don't need any other indicator and I can analyze multiple assets with one look.
Keeping it short, the Trend Analyzer uses the background color, and it just turned from red to green which means that an uptrend just started, it's young so it's not strong yet. +1 Bullish Point.
The Spectro™ Oscillator, predicts price behavior and trend strength, it's the line that is crossing the price and changes colors, further it is from the price stronger the trend, if it crosses the price the trend reverses that's what gives you the UP and DOWN entry points. We just had a UP alert, so +1 Bullish Point.
Those beautiful "christmas trees" triangles under is Spectro™ telling you that he read 20 indicators(RSI, STOCH, BB, MFI, OBV, CCI, etc) and they all agree this downtrend is going to fast and it's oversold. + 1 Bullish point
Those green/yellow clouds above the price are the Specter Clouds™ and they not only forecast that the movement is getting out of its "healthy" zone and a readjustment is to come, if you measure its peaks it will tell you where the price should be back to. If you go back and check the chart you will see that when the clouds start to appear the weather changes after and if you measure it you will see how often it also obeys support and resistance lines. When it turns yellow it means that it's coming out of the unhealthy zone and when trading dips it can be used as an entry signal tool. +1 Bullish point.
Now using the Spectro auto pivot system, we are using the full Fibonacci mode, you will see that if the uptrend confirms we might see another 6% run to 6800-6900
So we have 3 Bearish points vs 4 Bullish Points, therefore it's a close call. I don't like it. Especially since I come from a buy at 6100, close to 6% profit, the next run has a big down size too since the closet STRONG support is -6% so that's a 50/50 RISK:REWARD, I don't like that either.
What I'm doing next is observing the chart, if it after a couple candles the price consilidates and starts going up Ill go back in, using a smaller timeframe for optimal entry.
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org/spectro-indicator/
