#MarketMove Guys predicting the market is fairly simple if you keep things simple.
You don't require fancy indicators. Looking at Volatility (Bolinger Bands) and Moment (MACD) gives sufficient insight.
However, do not try to micro predict, that is to say when you try to predict the market on very small time frames such as on a Daily candlesticks or hourly candlesticks then your trying to micro predict, which doesn't always work.
I sold the top before this dump, and will likely by the dip when the time comes. I have been seeing the charts for many years now and things have become intuitive.
let me share how you can simply look through the market, and make predictions:-
First: Look at the MACD on the weekly candlesticks, it's started to slope down, giving a bearish momentum. So that means the markets will fall.
Second: Look at bolinger, the price is above the top band, indicates overvalued price, large band width indicates time of High Volatility.
Third: Assess the market, we are in a bull run, so Bitcoin getting undervalued has less chance, but a dip might get it to a Fair Value, that is the middle line in the bolinger band.
Fourth: Predict, in all likelihood, Bitcoin will dip till the bearish momentum ends or weakens, and we might see a dip in bitcoin to its fairvalue price on the weekly charts as per Bolinger, and looking at past history there are chances that it may consolidate in that fairvalue range for a while before it picks up moment again.
now this is the most likely scenario, but not the only one, However, all you need, to be profitable in the long run is to be correct most of the time, which you can do by correctly predicting the most likely scenario consistently.
Rest the market is king, it can move in any way, no one can predict it for sure. So always stay humble.
$BTC #BTCNextMove #MarketPullback