mychartslie

mychartslie Updated 

For a safe entry, wait until we close above the red downtrend line. Stops below the bottom yellow line.

mychartslie

Targets on chart in blue. Decred isn't alone. New money in BTC has to go somewhere. Alts are the only hedge for Bitcoin.

mychartslie Updated 

Hype cycle Credit to Excavo for idea

mychartslie

The more developed a Head and Shoulders pattern is, the less risky it is to trade it over time. Right now, we don't know if this really is a H&S . But if we see strong resistance at the red line, then it could be a signal that the price is going to hit the neck line and yellow and then go down to the blue line, completing the H&S pattern around $2400. From there...

mychartslie Updated 

Long term hold after short targets are reached.

mychartslie Updated 

If the daily fails to close above the yellow line, I'm looking at the targets highlighted in blue on the chart. Looks like we've already hit some resistance there.

mychartslie Updated 

Historical places where we've bounced. Remember, we ALWAYS retest the previous all time high peak. Always.

mychartslie

Bottom channel = healthy Top channel= bubble I'm sure I'm off by a little bit, but I don't see anyone selling Decred under .0073. Too much at stake, literally.

mychartslie

Take time to look at other trading pairs to get perspective. In my BTCUSD chart I was calling a double top, but here, we see something a little different. A bearish channel can't be confirmed yet- we must touch the bottom line at least twice. But it's definitely within the realm of possibility. Also take into account that many other charts exhibit this trend-...

mychartslie

I could see the potential for either playing out.

mychartslie Updated 

See chart. Three points touched on the top and two points on the bottom, confirmed falling wedge. Don't get faked out. Don't fight it. You are the short, let that sink in.

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Don't fight it.

mychartslie

See chart. If we break the uptrend line, it's down to $8 we go. Rest assured I'll be long from there if it comes to that.

mychartslie

See chart

mychartslie Updated 

I know it's hard for many of you to believe, but you must at least consider the alternative view. This appears to be a textbook double top reversal pattern. stockcharts.com From their website: The Double Top Reversal is a bearish reversal pattern typically found on bar charts, line charts and candlestick charts. As its name implies, the pattern is made up of...

mychartslie Updated 

Many have become so used to BTC's strength, so it's made them feel like TA is easy. It's easy to go long after a price dip because we knew the overall market's were bullish. But people don't get it- crypto's behave differently than other markets. Everything rides on BTC. And if any of you say, "No, Litecoin's different!" then stfu and go away. Maybe one day...

mychartslie Updated 

Those who fomo'd yesterday are getting rekt as we speak. The big questions is, will the hype be enough to continue the breakout, or was it simply a false flag. If it's the latter, maybe we'll see another H&S...wouldn't that be funny. Or is it a double-top? Or a cup and handle? Back to the resistance line for now. Let's wait and see.

mychartslie

It's very risky to trade on incomplete chart patterns. You can't call it a head and shoulders because it hasn't happened yet, and it may not. Trade at your own risk. But if we see a dip from here to $36, it'll be much safer to short to around $22. And then from there it'll be even safer to go long. Good luck.