Im here today with update on topic:
Why is good to be REALIST at marketplace instead of blind follower.
What is simple and easy about being realist at marketplace is that, ALL you need to do to master this narative is simply WATCH at CHARTs without ANY BIAS. And I mean ANY. NONE. NADA. ZERO.
Hard part to do is being unemotional and disconnected from emotional decisions WHILE you are investing in marketplace. That is for many the biggest obstacle between success and failure.
So now I made infographic with BTCUSD chart and color coded it so its easier to understand. Aswell I marked several patterns and areas which are IMPORTANT to predict future market moving based on previous experience in it.
Chart is without PRICE on purpose, as it is in analyst best interest to not know PRICE action level to help him DECIDE where we heading just based on chart storytelling.
And for me this chart is pretty clear.
On LEFT side we had a pretty steep uptrend which resulted into Triangle which after some period of time continued UP as it follow TREND in which we WAS.
At PRESENT time its clear that we are in DOWNTREND since mid April-May and that downtrend resulting into another Triangle BUT this time on other side.
We still not come to conclusion if chart will go back up or further down, but TIME is ticking and we coming closer to end of our decision time. There is left approximately 30 up to 45 days when our downtrend Triangle will be broken – so either Trend will FOLLOW or BREAK and change its trajectory up again.
BUT FOR NOW WOULD BE REASONABLE to ACT as CHART suggesting. And its suggesting that we are in DOWNTREND for now and with following that logic IF NOTHING change sooner or later (30-45D) our trend WILL continue AND we will FALL further down.
Like it or not -THIS IS HOW IT IS- and how market operate. You either follow it and win or going against it and lose.
Thats why you should be SMART about entering marketplace without any experiences and the MOST IMPORTANT thing, be UNEMOTIONAL and UNBIASED if you do.
Those who agree or like my analysis PLEASE click that like & follow button and dont be shy to leave comment with your opinion. Your positive feedback motivates me to providing more of my views. Wish everyone good luck in trading.
DISCLAIMER: This is not financial advice. One should always do his own research before taking decision enter markets.