The trend broke after it didn't make the high (1) took a second dip below the resistance (2) - this would have released trapped buyers which would have been counter to the Stop Hunt Idea- and had to take a call - hence the Neutral standing
The key hypothesis was that the market is being influenced and for me, this confirms it. The idea was to see out a scenario that demonstrated influence beyond the everyday traders, BTC and crypto - Work out who/what that is and I think you can trade profitably on BTC. My guess:
All currency markets are being manipulated
Most of BTC investment is owned by them and thus fluctuates inline with the other markets - BTC is just another lever to make money
They control much of the news as a lever to control the money - as I can't see any reasoning beyond that regulars
We are just in one huge Stop Hunt - that scales 20,000 to 5,000-
On a more positive note:
the trending I laid was pretty much on target - perhaps not the highs and lows!!
RSI is a pretty decent indicator for when to buy - as long as it is computing off a decent time frame.
I actually haven't panicked and accepted some slippage! Testament to my hypothesis being made on logic rather than emotion.
I can only post 10 ideas a day on this free / newbie trader option so that is welcome relief for the community here ;)
It's not over yet but I think more panic in the market may drop this down further.
HF - newbie
The key hypothesis was that the market is being influenced and for me, this confirms it. The idea was to see out a scenario that demonstrated influence beyond the everyday traders, BTC and crypto - Work out who/what that is and I think you can trade profitably on BTC. My guess:
All currency markets are being manipulated
Most of BTC investment is owned by them and thus fluctuates inline with the other markets - BTC is just another lever to make money
They control much of the news as a lever to control the money - as I can't see any reasoning beyond that regulars
We are just in one huge Stop Hunt - that scales 20,000 to 5,000-
On a more positive note:
the trending I laid was pretty much on target - perhaps not the highs and lows!!
RSI is a pretty decent indicator for when to buy - as long as it is computing off a decent time frame.
I actually haven't panicked and accepted some slippage! Testament to my hypothesis being made on logic rather than emotion.
I can only post 10 ideas a day on this free / newbie trader option so that is welcome relief for the community here ;)
It's not over yet but I think more panic in the market may drop this down further.
HF - newbie