PLEASE TAKE THIS INTO ACCOUNT WHEN YOU READ ANY OF MY ANALYSIS
Here is the Up Channel we appear to be working in (for now) on Bitcoin.
Now, to be a valid trendline it must touch 3 points.
We only see it touching 2 points, so this means they are unconfirmed trendlines but what this gives us are upper and lower price points to be tested.
Points to note regarding this Channel:
1. it's going Up and the top is expanding outwards so long term I remain Bullish Bitcoin and Altcoins in general
2. The recent pullback is healthy in an UpTrend
3. 50% on any chart is a tipping point. The Bulls and Bears are currently battling it out for control at this mean level
4. I have told you in my analysis we have heavy resistance going up and at this 50% level we certainly do have resistance
so yes it can fail and push down so my advice is to trade small
Now if you use Candlestick charts we have a thing called wicks.
Wicks can break through the Channel but when doing analysis it's the body of the candlestick which is of
more important because that's the majority of the price action "battle" between buyers and sellers for that bar
NOTE MY ADVICE TO YOU:
As an Investor, this remains Bullish. As a Speculator, you must decide what TIME-FRAME you trade.
If you can withstand the ups and downs then my view is bullish but you need to accept and know that your money management can stand the volatility on lower time frames.
I am a medium/long term speculator and an Investor, so my analysis is biased to big movements that's what my trading style is and where I make great money.
Finally, having qualified the above on how I trade teh crtyptos, as you know I do post short-term trades but I always give specific stop loss, entry and targets to protect our capital.
PLEASE TAKE THIS INTO ACCOUNT WHEN YOU READ ANY OF MY ANALYSIS
Sean Vengan
Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis then it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is your full responsibility, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up my valuable time providing analysis to you please respect that I am providing it free of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please don't disrespect me or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
Here is the Up Channel we appear to be working in (for now) on Bitcoin.
Now, to be a valid trendline it must touch 3 points.
We only see it touching 2 points, so this means they are unconfirmed trendlines but what this gives us are upper and lower price points to be tested.
Points to note regarding this Channel:
1. it's going Up and the top is expanding outwards so long term I remain Bullish Bitcoin and Altcoins in general
2. The recent pullback is healthy in an UpTrend
3. 50% on any chart is a tipping point. The Bulls and Bears are currently battling it out for control at this mean level
4. I have told you in my analysis we have heavy resistance going up and at this 50% level we certainly do have resistance
so yes it can fail and push down so my advice is to trade small
Now if you use Candlestick charts we have a thing called wicks.
Wicks can break through the Channel but when doing analysis it's the body of the candlestick which is of
more important because that's the majority of the price action "battle" between buyers and sellers for that bar
NOTE MY ADVICE TO YOU:
As an Investor, this remains Bullish. As a Speculator, you must decide what TIME-FRAME you trade.
If you can withstand the ups and downs then my view is bullish but you need to accept and know that your money management can stand the volatility on lower time frames.
I am a medium/long term speculator and an Investor, so my analysis is biased to big movements that's what my trading style is and where I make great money.
Finally, having qualified the above on how I trade teh crtyptos, as you know I do post short-term trades but I always give specific stop loss, entry and targets to protect our capital.
PLEASE TAKE THIS INTO ACCOUNT WHEN YOU READ ANY OF MY ANALYSIS
Sean Vengan
Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis then it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is your full responsibility, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up my valuable time providing analysis to you please respect that I am providing it free of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please don't disrespect me or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.