Alright, first topic to discuss is 'calling tops' topic.
In my opinion there's three ways to call tops:
- Fibonacci levels (you could combine these with Elliott Waves if you want to).
- Top of the parabolic trend
- Top of the channel
On the bottom two I'll give an example another time, but today I'll focus on the first one, fibonacci levels.
(apart from the earlier higher levels back in 2015, I'm giving examples according to the yellow, orange and red box).
So, we've seen a nice move up in the summer of 2016. After that, we've seen a nice move up back in the same period in 2017 and a last one is the red box, the last upmove in the last few months.
One of them is according to the airdrop of IGNIS, one of them is according to the airdrop of ARDR.
As you see, the top of the orange box is exactly the 1.618 level from the earlier top back in 2016. The same we'll see in the red box when you draw the fibonacci levels with 1 as top on the top of the orange box.
Why is that? In Fibonacci is the 0.618 level (or 0.382 flipped around) the major level. 1.618 is called 'The Golden Ratio' and is one of the hardest resistances to break through. Most of the time you'll see a bounce down (sometimes a little spike up, but the candle doesn't close higher than this level), so jumping in on the bottom, placing a sell order just below this level and most definitely you'll make great profits.
What do we see more?
- Buy the rumor, sell the news.
- Don't jump on hyped coins and don't buy green candles.
- Waves/cycles, everything goes in waves.
Then about $NXT for the future. Will it stop pumping? I don't think so, we'll see accumulation for the coming months before we'll make another move. 2018 will be a volatile year.
Thanks, see you tomorrow!
In my opinion there's three ways to call tops:
- Fibonacci levels (you could combine these with Elliott Waves if you want to).
- Top of the parabolic trend
- Top of the channel
On the bottom two I'll give an example another time, but today I'll focus on the first one, fibonacci levels.
(apart from the earlier higher levels back in 2015, I'm giving examples according to the yellow, orange and red box).
So, we've seen a nice move up in the summer of 2016. After that, we've seen a nice move up back in the same period in 2017 and a last one is the red box, the last upmove in the last few months.
One of them is according to the airdrop of IGNIS, one of them is according to the airdrop of ARDR.
As you see, the top of the orange box is exactly the 1.618 level from the earlier top back in 2016. The same we'll see in the red box when you draw the fibonacci levels with 1 as top on the top of the orange box.
Why is that? In Fibonacci is the 0.618 level (or 0.382 flipped around) the major level. 1.618 is called 'The Golden Ratio' and is one of the hardest resistances to break through. Most of the time you'll see a bounce down (sometimes a little spike up, but the candle doesn't close higher than this level), so jumping in on the bottom, placing a sell order just below this level and most definitely you'll make great profits.
What do we see more?
- Buy the rumor, sell the news.
- Don't jump on hyped coins and don't buy green candles.
- Waves/cycles, everything goes in waves.
Then about $NXT for the future. Will it stop pumping? I don't think so, we'll see accumulation for the coming months before we'll make another move. 2018 will be a volatile year.
Thanks, see you tomorrow!