dillondevoe
Giá lên

BTCUSD n00b

BITFINEX:BTCUSD   Bitcoin / Đô la
i've never put a chart up cause idk wtf i'm doing but i used straight lines and kept it simple to (probably, poorly) explain essentially what i think is going on here. i don't see doom and gloom. i see adoption and enthusiasm. to me the chart seems to be confirming what i think, though that could be my own confirmation bias.

again, idk wtf i'm doing and this is definitely not financial advice.

rather, i'm publishing something in hopes someone with more charting experience can take it and run with it and/or tell me why i'm wrong.

thanks, all!
Bình luận: essentially it seems to me like a massive bull flag we broke but popped back into, the support line from last year still holding when it falls below. my position and opinion is this will break long, but if it does not, my feeling is 6,600-7,200 support will hold through summer before a new one is made.

also, idk wtf i'm talking about

luuuv. . . <3 !!!
Bình luận: sorry, wedge, not flag, see idk wtf i'm talking about. ;) :*
Bình luận: see i did it again, i meant a triangle not a wedge, i need some coffee and some healing herbs for my broken brain. thanks! please help me get better here.
Bình luận: See, I meant to write "still holding up" here and wrote it as a comment lol.. today n00b
Bình luận: *total n00b*
Still holding up.
Phản hồi
haha, you gotta get your feet wet at some point. So, if you don't mind I'll explain as best I can and anyone who surely knows better can correct me, haha.

So the pennant formation you drew (the top "resistance" trend and bottom "support" trend) need to be touching a recent high and low. It doesn't mean that they aren't valid, as they haven't been tested in a while. So the recent top "resistance" trend does touch three spots which is valid, but untested in two months. The bottom "support" trend you drew that forms the pennant formation was broken and therefore invalid. Sometimes a price line can briefly break a trend line or the line can be crossed and have pullback before the candlestick can close and the trend can still continue or it is further validated.

-The support trend from 10/17 on is valid, but would be considered a long term support. The more touches to a trend line the more solid it is confirmed. So good job!

-The first resistance trend you drew from 1/18 thru 2/18 is in theory correct. Once the trend breaks its a key indication that the market is changing, thus one of the reasons the value shot up.

Suggestions, trends are just one of many indicators that help give you clues as to why things go one way or another. Check out RSI, or relative strength index, MACD lines, and moving averages. GDAX, an exchange uses a 12 period and 26 period exponential moving average, or EMA. A large amount of the market uses this exchange and those EMAs. I'll post a picture for you to see so you can see the correlation with how the market is moving around them. Also, check out The Chart Guys on youtube and on here. They have a ton of knowledge to help you out.

Hope this helps and good luck!



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