2/2/2020: Bitcoin at over $32,000. Be careful now, at some point a few smart whales will start taking profits. And the institutions who recently bought and drove the price of bitcoin, for utility rather than investment, do not care that much if bitcoin ends up at $30,000 or $20,000.
Author, coinbucket.me

Bitcoin Chart Patterns, Candlestick Formations & Technical Indicators for Technical Analysis

The Marubozu is a long candle.

Chart patterns, candlestick formations, and technical indicators are derivatives of price action.

That begs the question: do chart patterns, candlestick formations, and technical indicators work? Yes, they do. But it’s not tools that build the house, it’s the craftsman or trader. As a trader, then, one better knows and uses chart patterns, candlestick formations, and technical indicators.

swing trading time
Zoom in for noise or detail.

A trader must learn to master the ambiguities in reading price and volume charts.

Looking at charts of different time frames is confounding to beginners. Many new traders get lost in charts of an hourly time frame as in contrast to a daily or even weekly time frame. The hourly or other minute time frames are probably not that suitable for the inexperienced. It is best to start looking at charts from an eagle’s perspective, that is a monthly or weekly time frame, so as to first ascertain the overall situation of the asset.

smart money strategy
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A trader needs to be aware of why and how other traders behave and act. Wykoff’s writings will prime a new trader like nothing else.

Richard Wykoff was an early 20th-century pioneer in the technical approach to studying the stock market. He realized that price trends were driven primarily by institutional and other large operators who manipulate prices in their favor.

Trading Crypto is entertaining and makes some Money

Learn the basics to not get smoked.

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However, this low-cost membership does NOT include buy or sell alerts or predictions as to how price is going to move. There really is no magic bullet for most any trader in buying, holding, or selling crypto assets. You’re the man.

Learn the basics of trading crypto at your own pace. The one-time subscription fee of $4.95 grants you unlimited access to Coinbucket’s growing set of crypto information. All in one place, there is no need to spend an inordinate amount of time hunting for silver bullets on dozens of sites large and small, only to get sidetracked in irrelevant or too minute details.