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How a became a millionaire using crypto technical analysis and here is a guide

How a became a millionaire using crypto technical analysis and here is a guide

All Cryptocurrencies

by COINS NEWS 36 Views

I wanna share how i became a millionaire using technical analysis and maybe you can do it to.

Technical analysis is the study of statistical trends, collected from historical price and volume data, to identify opportunities for trade. Technical analysts observe patterns of price movements, trading signal and other analytical tools to evaluate the strength and weakness of an asset.

Technical Analysis can be applied to any security with historical trading data such as cryptocurrencies, forex, commodities and stocks.

A chart of prices and volume represents all the past decisions taken by market participants (buying and selling). This information will, in turn, affect future participant decisions in two ways:

  • Psychological: What you did in the past affects how you approach future situations. For example, many traders tend to focus on the price at which they bought an asset, and if it declines, they want to sell when it reaches break-even again.
  • Reflexive: Some traders identify trends and chart patterns which are common, and act accordingly (buying or selling). If a sufficient number of participants follow the same strategy, it is expected that these chart patterns will follow the expected outcome and that the trend will likely to be sustained by more and more participants joining the trend.

Bollinger Bands

Bollinger Bands display a graphical band (the envelope) with a simple moving average in the middle. The width of the envelope expresses the volatility.

Volatility refers to the rate at which the price of an asset can increase or decrease. A higher volatility means that the asset can potentially fluctuate rapidly within a larger range of value.

https://preview.redd.it/pqjqtkv7vtg61.jpg?1600&format=pjpg&auto=webp&s=e1d0ccd3978189d96ff1c49991c8fd7d602eb716

Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (or MACD) is a trend following indicator that looks at the combination of two moving averages:

  • A short-term moving average
  • A long-term moving average

These two moving averages are combined to identify what is the current trend and if there is a change in the momentum.

The MACD lines displayed below can be interpreted as follows:

  • If the blue line (MACD line) is above the orange line (Signal line), the momentum is bullish.
  • On the contrary, if the blue line is below the orange line, the momentum is bearish.
  • When the lines diverge, it denotes a strengthening of the current trend while a convergence shows a trend reversal.
  • When the lines cross, it is likely that the change in momentum is confirmed.

https://preview.redd.it/d1iv2s4bvtg61.jpg?1600&format=pjpg&auto=webp&s=f4f063008c7a3775a6021b6047c3c7b179abc7db

So what did i do?

I started with the basic, BUY HIGH, SELL LOW. I used $2.500.000,- from my wife, put in crypto. Lost 50%. deposit the rest into my account. $1.250.000,- profit.... Simple like that.

Your welcome

Source: https://swissborg.com/blog/how-to-apply-technical-analysis-to-cryptocurrencies

submitted by /u/steavus
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