Good morning guys.
Indicators are relaxing as we catch support at the kijun line. This is a short term consolidation point and the market looks like it will head back towards the .382 fib line. I expect more sideways this coming week with moderate volume and volatility as we head back towards and test $10k next weekend. This rise, consolidate then dip cycle is very bullish imho. The laddering up is very apparent on the cloud. #dyor
Indicators are relaxing as we catch support at the kijun line. This is a short term consolidation point and the market looks like it will head back towards the .382 fib line. I expect more sideways this coming week with moderate volume and volatility as we head back towards and test $10k next weekend. This rise, consolidate then dip cycle is very bullish imho. The laddering up is very apparent on the cloud. #dyor
Please explain me because I am stupid. How can your chart predict what will happen if there will be for example some major negative or major positive news? I am always very puzzled by so called chart experts (who always predicts two side movement lol) who never mention news. For me its like news run 90% of crypto market. For chart experts its like they never heard for news.
Or perhaps I am just stupid and news doesnt mater. I feel i will hear now flame, but i dont got it, post like news doesnt matter.
First of all..there are no stupid questions...ever. Secondly..you are correct..the chart is just representing "technical" data. The price movement over past cycles, be that either minutes, hours or days. It has no way to incorporate sudden real time events or news that may impact price other than a big green or red candle one way or the other. If you day trade the short term charts are affected the most by events or news. In the mid-term..these events have less impact..although it still can be severe. In the long term..daily news cycles still play a role but have significantly less sway over price and market direction. Those movements are already baked in so to speak. It comes back to physics imho..on a short time frame the inertia is low..so it can be moved with less effort. At longer time frames the market has built higher levels and it takes much more to change direction or momentum. Hope this helps.