Rhys Evans
@Florinstacks
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CMT (chartered market technician) level two. Aspiring classical chartist, technical analyst & student of behavioral finance.
Joined September 2024
All this digital I.D talk is quite funny. ITS ALREADY HERE, YOUR ON IT EVERY HOUR OF EVERY DAY.
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Crypto - the institutions are here, market manipulation will diminish, number go up. WRONG, the masters of derivatives are here to take advantage of retail. If you don't know who the sucker at the table is....
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For now we are ranging, we want a decisive close either above or below to give a clear signal of directional bias.
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β¨π·β© β¨This candle is a special type of "spinning top" candle, it is called a "highwave candle", the distinguishing factor of a highwave vs a spinning top, the wicks must be obscenely long. The candle shows a "tug-of-war" between buyers and sellers and represents extreme
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I'm calling ross ulbricht getting released from prison as the top for this cycle. Or at least a local top.
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Avoiding over trading in this next phase might be difficult, however if you can resist the urge, you will probably outperform most.
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As suspected, after such a strong trend, one divergence is not enough to mark a major top for me. Price corrected and it now looks like we are breaking out to the upside. One could have traded this on the LTF, that is not my seen
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ETH/USD, recent price action failed to invalidate the H&S reversal. It now looks like eth will make a run for the price target. Note the volume profile leading into the left shoulder, the formation of the head and on the breakout of the neckline.
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We are human, and humans make mistakes, be it through - heuristics - extrapolation errors - over confidence or - confirmation errors. The markets are made up of our mistakes, which can lead to the mispricing of assets. Not everything should be as it seems? And not everything is.
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Most "active investors" fail to consistently outperform the benchmark, And here we are waiting for that meme coin to retire us to some tropical island....
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If DOGE can get through .20, I see no reason why .32 isn't next. Strong daily trend
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ETH/USD, Confirmed bearish divergence, after such a strong trend I would need to see a third deviation or a decisive close back below ATH. Until then I still think Sol outperforms ETH long term.
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