See this article:
cointelegraph.com/ne...arch-interest-spikes
which discusses BTC fundamentals, and how NVT ratios suggest that we have resumed the bull run, even though the technicals clearly show we still haven't completed the correction.
But fundamentals don't matter. You know why?
Because this: cointelegraph.com/ne...-with-over-5-000-btc
.. bitcoin trading allows shorts. In 2 hours, a trader can come in and tank the market, fundamentals out the window. Traders control the market, not the fundamentals in a market that allows options trading. Traders are going to use technicals to trade and control the market - so pay attention to technicals - you will get more success.
I must also comment that in the second article, Michael Van De Poppe comically tries to fit the Wyckoff diagram to the current BTC price movement. See my post here:
to see why trying to shove the price movement into the Wyckoff diagram is foolish. Look at 2018 correction and tell me where the Wyckoff is! It's in there, I grant you that, but it's not obvious and is hidden in there. Wyckoff is not intended to be a pattern that you can easily notice - just a teaching on principles of market psychology.
Every time I hear someone mention "Wyckoff" it is always to justify their position that a bearish trend has ended. "Oh don't worry about that dip lower - that's just the 'Spring'!". I heard that every day during 2018. Get this straight: you can't see Wyckoff, and you can't predict Wyckoff. The only way to use Wyckoff is several months later after the 'Spring', where you can analyze and see how the Wyckoff played out. There is NO WAY to recognize the 'St in Phase B' or the 'Spring' when you're still in the downturn.
cointelegraph.com/ne...arch-interest-spikes
which discusses BTC fundamentals, and how NVT ratios suggest that we have resumed the bull run, even though the technicals clearly show we still haven't completed the correction.
But fundamentals don't matter. You know why?
Because this: cointelegraph.com/ne...-with-over-5-000-btc
.. bitcoin trading allows shorts. In 2 hours, a trader can come in and tank the market, fundamentals out the window. Traders control the market, not the fundamentals in a market that allows options trading. Traders are going to use technicals to trade and control the market - so pay attention to technicals - you will get more success.
I must also comment that in the second article, Michael Van De Poppe comically tries to fit the Wyckoff diagram to the current BTC price movement. See my post here:
Every time I hear someone mention "Wyckoff" it is always to justify their position that a bearish trend has ended. "Oh don't worry about that dip lower - that's just the 'Spring'!". I heard that every day during 2018. Get this straight: you can't see Wyckoff, and you can't predict Wyckoff. The only way to use Wyckoff is several months later after the 'Spring', where you can analyze and see how the Wyckoff played out. There is NO WAY to recognize the 'St in Phase B' or the 'Spring' when you're still in the downturn.