seeing patterns always depends on the scales you use.
Just a short one.
Most people look at trades on 4h, day or slightly more, not a lot of people zoom out far enough to see if there are other patterns, longer term patterns involved.
Accordingly I have see no one using any correlation tools with bussiness indicators, major economic trends. wouldnt it be interesting to see a long term correlation of the volatility of BTC and most crypto currencies.
Doing this reveals a few patterns, most mineable cryptocurrencies follow BTC curves with a slight delay or pre-empt, interesting to see signals way ahead of the curve. there is a very simple reason for that, most cryptocurrencies that are mined are being traded on trading platforms with BTC.... oh duh... yeah stupid everyone can see that... ( I hear most people say) but in reality just compare some of the cryptocurrency trading idea's etc. they all try to tell something without looking at other coins, and especially btc.
to prove my point, all analysts are talking about support lines, trend lines...
well I got one that spans 5 years and still holds... showing a support bottom that rises and has barely been broken. that long term line seems to indicate the general direction. ( not value) but definitly an uptrend that is steady.
spikes like we had last year are interesting, but mostly based on hype and whales making fortunes. if you have a few million BTC to toy with, you can create the market you want. the small investors are there for the ride and get plucked at random moments by the whales. proof is in the recent short invalidations happening, with whales moving the needle dramaticaly, you will lose a lot of money if you play it on short term thinking. cryptocurrencies have minimal ties to the real world economy.
maybe you should take a look at the pattern, when BTC rises or falls, what other market is doing the opposite direction.
just my 2 cents into the ring.
and btw, never play it hard, and use funds you need at some time, be prepared to lose it all when you play :)
Most people look at trades on 4h, day or slightly more, not a lot of people zoom out far enough to see if there are other patterns, longer term patterns involved.
Accordingly I have see no one using any correlation tools with bussiness indicators, major economic trends. wouldnt it be interesting to see a long term correlation of the volatility of BTC and most crypto currencies.
Doing this reveals a few patterns, most mineable cryptocurrencies follow BTC curves with a slight delay or pre-empt, interesting to see signals way ahead of the curve. there is a very simple reason for that, most cryptocurrencies that are mined are being traded on trading platforms with BTC.... oh duh... yeah stupid everyone can see that... ( I hear most people say) but in reality just compare some of the cryptocurrency trading idea's etc. they all try to tell something without looking at other coins, and especially btc.
to prove my point, all analysts are talking about support lines, trend lines...
well I got one that spans 5 years and still holds... showing a support bottom that rises and has barely been broken. that long term line seems to indicate the general direction. ( not value) but definitly an uptrend that is steady.
spikes like we had last year are interesting, but mostly based on hype and whales making fortunes. if you have a few million BTC to toy with, you can create the market you want. the small investors are there for the ride and get plucked at random moments by the whales. proof is in the recent short invalidations happening, with whales moving the needle dramaticaly, you will lose a lot of money if you play it on short term thinking. cryptocurrencies have minimal ties to the real world economy.
maybe you should take a look at the pattern, when BTC rises or falls, what other market is doing the opposite direction.
just my 2 cents into the ring.
and btw, never play it hard, and use funds you need at some time, be prepared to lose it all when you play :)
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