Greetings fellow Steemians.
Today I bring you, what I hope it will turn into good news, but for now nothing but a simple bold prediction.
I haven't been wrong much, so I'm starting to get confident.
I identify this movement, without strenght to continue, below the 0% Fibonnaci retracement, as a major sign of change of trend. Have in mind this is the 4 hours chart and not daily. Things move so fast in the crypto world, that sometimes it is best to look at this chart.
Here are the two cryptocurrencies I focus on most of the time:
Bitcoin
Bitcoin plays the big role in deciding the overall trend of the market, whether you like it or not. I pay huge attention to the XRP chart too, antecipating it will, in time gain such huge influence aswell, it has shown some strong signs already.
XRP:
MACD cross below 0, adds a little more to my theory. I don't believe the market will go straight to the moon, but I think the worst has passed. ( or the best, anyway you wanna look at it)
Dodgy as hell
Create more depth I always support mu
Follow me @clicknpict
Go check out my previous dodgy as hell predictions that have been proven to be correct. Including the crash.
Just because it's simple doesn't mean it's bad.
I'm not giving any financial advice, only having fun predicting stuff. And I rather stick to simple models that work than complicated setups, that only add confusion.
To try to explain a bit more my idea: Price respects the Fibonacci extensions most of the time. It should had went straight to 5500 in the case of Bitcoin, but it didn't, and usually when this happens it's the end of a cicle, same happen in the crash. I might be wrong thou, don't put your money on it.