Cryptocurency trading ideas. Retrospective analysis. 30. Jan -> 16. Feb

in #blog7 years ago

All right folks,

Here comes my "the goods, the bads and the uglies" blog style rubric. I will do the overview of my ideas and postings since last retospective published 17 days ago, whenI was looking for the best pattern to describe the correction. My options were:

  1. Simple ZigZig: still not finished
  2. Double ZigZag: the first ZigZag is finished, the 2nd is not yet started. We are in the linking A-B-C wave.
  3. Simple ZigZag: is finished & we are in the 1st wave of the impulse.

I have chosen the 1-st option: ZigZag is not finished yet:

On the current chart we see the price target of $5 000 which looked a bit too much these days and I have also posted the triangle idea with a note, that $6 000 level is now visible and realistic:

And here is the development of that idea:
triangle.png
We have touched the $6 000 level and that is lovely, lovely, lovely

I consider that as the good of my analysis. I have used several analytical methods (levels, waves, pattern), have mentioned various options and also have chosen the most likely scenario (which even has worked, but that is only the bonus. If it did not work, I was also satisfied with my analysis). That was the big picture of the BTCUSD, which is my main focus till now.

During last two weeks, I have also started to look at 15 min charts and zoomed in to the minuette level. First I did it for fun, but unexpectedly, it worked out and I have even made some successful daytrading: I have posted 15 min charts on daily basis and it helped me to orient better in higher levels of the waves. The goods and the most exciting moments of the last to weeks for me are:

  1. Predicting of the another fall after the walk to $8 000:

  2. Successful daytrading:

And that is how I feel like:

Also I've kicked off the:
*Dash
*Neo
*Ripple
*Qtum
Analysis. I will try to do weekly updates on these charts. Probably I will add some more altcoins in before the next retrospective. I aslo consider that initiative as the good

The bads: I do not feel confident with the levels of the waves that I post. I change them "on run" and it makes me confused. Charts I've posted on the NEOUSD and XRPUSD are not marked it the same style as I did it for the BTC. That is something I definitely would like to improve in the next sprint (please comment if you are familiar with the Agile stuff. I use it in trading).

The uglies: I do not like the analysis I made on the ETHBTC. I told so much about the perspective of the Ethereum to be the king, but did not give any alternative scenario. Now it is near the 0.9BTC level (-10% since my last update) and I feel that I have to pay more attention to the chart after posting such kind of topics: Ethereum dominance soon?

Anyway, I am very fine with the passed sprint (30. Jan -> 16. Feb). I feel more confident with my actions and it returns me good feedback and results.

Thank you for reading! Next retro in ca 2 weeks.

Stay tuned.

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Information is valuable as it helps construct a different perspective. I enjoy your TA as it has been consistent. I read your post along with other to gather perspective and feel comfortable about my own positions. Most of my positions are long term so it helps for entry points. I still think ETH will make another run for dominance nance even if it is brief.

Thank you very much for the positive feedbacks, @newageinv! I will post the ETHBTC update soon.

Keep up the good work, sir!

I don't think this analysis is accurate. Most crypto is headed to a major bull run in the upcoming weeks. Wave C has already completed and the huge amount of volume (peak since 2015) suggest a reversal trend has happened. So back to business, bull as usual.

I agree, that C is completed. That is my retrospective, so I post 2-weeks old charts here. We have already passed that stage for example:

We are far away from there at the moment.

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin10175.000$2.21%19.98%
DASHDash701.675$0.7%13.44%
ETHEthereum943.314$0.56%10.65%
QTUMQtum33.294$1.39%12.18%
XRPRipple1.139$-0.95%27.56%

You got a 25.91% upvote from @getboost courtesy of @dkn!