How to Trade Cryptocurrencies: What Actually Works

In this video I’m going to show you how
to trade a cryptocurrency that’s Ethereum Bitcoin Neo ripple any kind of
cryptocurrency and as you may have Noticed anyone can show you how to trade
or invest in cryptocurrency you go get a Wallet you get an account and an
exchange and start buying it but what I’m going to show you is how to trade
cryptocurrency whether it’s going up or Down and how to make profitable trading
decisions in any market conditions During recent up trends all the crypto
experts we’re showing you you just keep Buying and well that worked for a while
didn’t it but after a while if you Continue to use the strategies that all
these experts were recommending your Account would no doubt be wiped out okay
as you may now have discovered it’s Extremely important to be able to read
the market and know how to make Profitable trading decisions whether the
market is going up or down I’m going to Show you some of my actual trades and
demonstrate to you and explain to you And show you why I entered and you’ll be
able to see yourself why I entered and You can understand now once you see how
to read the market how you can continue To make profitable trading decisions in
any market condition instead of just Being biased to the emotional side of
the frenzy of buying only plus I’ll show You the critical difference between
trading crypto currencies and buying or Investing in crypto currencies this is
not intended to be any kind of trading Or investing advice and is certainly not
going to be a solicitation for you to Buy any particular crypto currency
trading crypto currencies forex or any Other market is very risky don’t trade
with any money that you can’t afford to Lose and before you get involved consult your Financial advisor
okay first of all here’s what you need To know upfront trading Cryptocurrencies,
Bitcoin, Ethereum any other Cryptocurrency is exactly the same as
trading any financial market that Existed before there’s nothing new or
different about the process of how you Would do it successfully then you would
with any other market that existed Before there ever was crypto currencies
a lot of the people who are involved in Trading crypto currencies were never
involved in trading any financial market Before this so they may not be aware but
when you open an account for trading Forex or commodities or futures the
normal process is you open an account You deposit your capital in your base
currency such as US dollars or Euros or Australian dollars and when you trade
you already actually have an agreement With the broker or nowadays we call them
exchanges you have an agreement that You’re not going to take delivery of any
commodity or currency that you’re Trading you can trade the euro versus
the US dollar you can trade wheat pork bellies or coffee but in the end you’re
not going to take delivery of those Commodities and you don’t have to worry
that some truck is not going to back up To your house and say where do you want
to put all these pork bellies sir Because in trading that’s not going to
happen you’re only going to have an Increase or decrease of profit or loss
and your base currency for instance if You enter a trade in forex if you enter
a trade on the great british pound Versus the New Zealand Kiwi you’re
actually not going to take delivery and You’re not going to make delivery of any
pounds or Kiwis you don’t actually have To have any pounds or Kiwis to enter a
trade or short on the pound key we okay so
hopefully we already know this but this Actually becomes extremely important
with crypto currencies because we need To have a legitimate reason why would
you want to enter a trade on a crypto Currency is there a specific reason
here’s what happens I’ve noticed in Trading is a lot of people want to trade
a certain instrument and they say I like Trading gold is so shiny and
then sometimes I say well cryptocurrency It’s so trendy blockchain is so
high-tech well what will be the Difference between trading gold and oil
gold is shiny oil is sticky and black Well the purpose is to make money so the
real focus is what would be the most Probable trade when you’re looking for
trades are you looking for something Shiny or are you looking for something
trendy or are you looking for something That’s going to make profit right now
the cryptocurrency market is still in Its infancy and we have different
options available such as you can trade You can trade crypto currencies with a
forex broker and A lot of Forex brokers have added Bitcoin versus a US dollar
and they’ve had that for quite a while Now they’re starting to add a few others
and so you can trade crypto currencies with a Forex broker and in that case you
definitely would be depositing your Capital in your fiat currency of US
dollars or Australian dollars or pounds or euros so obviously you enter and exit
a trade and what’s going to happen is When you close a trade you it’s going to
be deposited profit or loss in U.S. dollars or your base currency and you
won’t ever own any of these crypto Currencies which i think is excellent
because i don’t want to own them so what I’ve noticed is that most of the
crypto currency experts are Recommending that you go to coin base or
some other exchange and get a wallet and buy Bitcoin and put it in the wallet and
what that actually does is you are Investing in Bitcoin you’re entering a
trade and if Bitcoin is in a downtrend Your base currency is going to be going
down very fast as soon as you open your Account and that may not be what you
want to do because we do know that Bitcoin is not going to be going up
non-stop forever so you should be aware that now coinbase
and Kraken both allow you to open a U.S. dollar wallet and it enables you to
instantly process transactions or to Enter trades on other Crypto currencies
and if someone is watching this video Sometime in the future and if the
uptrend resumes on Crypto currencies Then you know maybe it’s fine if you
want to open your wallet with Bitcoin if It’s rising in value but if it’s not
well you may not want to do that so Whether your base currency is in US
dollars or some other currency or Whether it’s in Bitcoin or Etherium you
you still should be able to see how Ridiculous and unresourceful it is as a
trader to have some kind of emotional bias that attaches you to a certain
outcome for a certain instrument that you may be trading people are focused on
whether they are a believer in Bitcoin and really as a trader the last thing
that you want to do is to buy into a social belief system
if your friends are Bitcoin believers Then when you hang out with them you’ll
be made to feel that you need to also conform to also be a Bitcoin believer
and the believer in Bitcoin will believe that Bitcoin is the future of currency
on the planet Earth and it doesn’t matter what happens they’re not going to
stop believing that and so it might be better to not be committed to that
belief and for me I’ve always been a nonconformist and I’ve never cared what
any friend or anyone else believes in so I don’t really care if the whole world
thinks it’s going to be the future of currency for the planet Earth maybe it
will be in that’s fine but I still kind of have some doubts about that and it
seems actually to me it seems very likely that Bitcoin will become obsolete
and will be replaced by some other Cryptocurrency and in the end people
will have a Cryptocurrency that may not have any value with trading it’s much
better to not have that kind of emotional bias and to be free to make
your own decisions and to base that on a Scientific observation you can look at a
chart and see this market is going up And you can tell if it’s going to turn
although a lot of people are not able to Tell when the markets gonna turn but for
us in our community we can tell that Something’s going to turn that’s why with
Bitcoin for at least a week before the Recent turn everyone was anticipating is
about to turn and now that has formed Almost a complete correction I’m still
watching in case it does form the end of a correction but I don’t have any
emotional bias about that and I don’t really care whether Bitcoins going up or
down and I haven’t made any commitment to a core belief that Bitcoin is the
future of this planet rather than take Your life savings and go down and use it
to buy Bitcoin wouldn’t it make sense to enter and exit trades and get profit and
then just move on to the next Right now a lot of people are afraid that they’re
going to miss out there’s going to be some new cryptocurrency that’s going to
explode like Bitcoin and so now there’s Hundreds of these new crypto currencies every day
popping up here here here all these new crypto currencies popping up with this
initial coin offering oh I got this new Initial coin offering it’s called my
dog’s assium it comes from my dog’s ass And you can still get in while it’s at
the ground level opportunity and these kind of bogus scams are being presented
to people for investors with reasons why They should invest in an initial coin
offering and the probability of Choosing one that’s going to become
worth something in the future is so low That there are so many better things you
could do with your time and your money Than to be making bets on some initial
coin offering it’s Bitcoin the future of Currency on planet earth I don’t know
and I prefer to be uncommitted to having that core belief about that but if it is
actually in an uptrend I can see that And I can enter and exit with profit and
I can tell when to enter if it’s going down I’ll short it and I’ll also make profit I remember when Forex trading was first
getting popular I got interested around 2004 but it was first made available as
a retail market around 1996 or 1997 Prior to that only large institutions
had access to trade Forex when I got interested in 2004 there were many
people and companies promoting various Products and services related to Forex
some had ridiculous names designed to Appeal to a new generation of traders
who were unaware of even the basics of Trading financial markets Forex Mega Matrix Dominator System Forex Turbo Laser Annihilator Vengeance so I discovered that the actual trading methods used in all of
these systems were basically pitifully Borrowed methods how to some basic
trading book you could go down to the bookstore and and get and just copy up
one page out of the book and then turn that into the new Forex turbo laser
Annihilator vengeance system All of these methods were already known in the
trading community and they were all made and sold not by anyone who actually knew
how to trade but were just thrown together to have a product People would
go from method to method and use all kinds of proprietary software and
indicators then robots and now signals None of which came from someone who
actually mastered the ability to read the market and make consistent winning
trades using an actual skill that can be proven and demonstrated what I
discovered is absolutely true is that Trading financial markets was the same
before Forex became popular as it is now after Forex became popular and in the
mainstream how much more is this true Now with Bitcoin and crypto currencies
people who have no idea how to trade Financial markets are buying these
crypto currencies having absolutely no clue what they are doing and then
becoming known as experts because they knew how to get a wallet and open an
account on an exchange I saw a video of a college-aged guy saying he and all his
roommates at the fraternity had made lots of money with cryptocurrency but
the thing is they had never seen a trend before there they’re not familiar with
financial markets and they didn’t know that this was a trend they don’t know
what a trend would look like when it’s about to turn and the method that they
were using which was to buy into fear how exactly do you buy into fear well
whenever there is a red candle that appears on the chart
just buy, buy the dip also I saw that recently on an article on Bloomberg that
that’s becoming a popular term and when the stock market dropped with one wave
people thought that that’d be a good place to buy because they can’t tell
what a correction looks like and what it would look like if it was over typically
Corrections don’t just make one straight wave and then they go back up so buying
a red candle or buying the dip doesn’t Necessarily work and if you saw some of
the videos that I saw during the time When the trend was up and you saw the
methods that these experts were using if they continued to use those methods
after the turn their account is now completely wiped out Financial markets
have been making the same readable identifiable patterns for decades before
crypto ever existed variations of the Same classic pattern have been forming
in financial markets for decades before Crypto existed and the way to trade is
to be able to read the patterns that Financial markets continually make when
you learn to read them you can open a chart you could trade Bitcoin or oil or
Amazon or Facebook gold etherium or wheat or coffee there’s no new method of
trading crypto currencies there’s no special high-tech software needed or
high-tech insight into social trends okay so how do you actually do this
Bitcoin formed a great big trend and formed a turning point and then there
was this big ABC shape over here and because of that I was expecting this to
go down and then just recently right in here the newspapers were not lose papers
but the internet news was all saying that so Bitcoin had found the floor
there was a big rally but is so obvious That’s the shape of a 1-2-3 and that’s ABC
of 4 and it still may not be over but I just want to enter a this
show something that will probably keep going down like this is ending ending the 3 of 5 and will probably keep going down Going to enter a trade one left then
they look at the Etherium and we’ll just compare that side by side and then we’ll
come to one on Litecoin and of course There’s many other crypto currencies but
those are main ones that I have on this platform so later we’ll be able see how
those compare with each other and then What I want to demonstrate is how
does that compare overall trading Forex and why would you trade Bitcoin as
opposed to trading Forex okay so now It’s January the 24th and
just observing the shape that I have on here and so far this doesn’t look like
the continuation of the uptrend notice a shape on the daily we still have the ABC
if that is an ABC assuming that this is still a correction and eventually this
will go back up this turn right here that happened the other day just
happened to get in there and now I can see that so far it’s not forming the
impulsive shape of a 1-2-3 It’s forming the shape of an ABC so I’m gonna get out
Bitcoin close Etherium it’s the same thing notice that you see the shape of
an ABC on the 1-hour go back up this is probably still way 5 going down this is
probably like a way for an ABC probably go down make it wave 5 get out
Etherium that one only has 54 pips Litecoin has their dollars that is Litecoin
has two dollars anyway now you can kind of compare what those are like
while I’m here I’ll just go ahead and go short even though I actually think that
it’s going to go up a little bit before it makes the turn because if that’s a
scene I’m actually seeing more of a 1 2 3 4 shape I don’t see the 1 2 3 4 5
shape so that’ll probably fill in later and that’s probably not the turn that’s
just a temporary pull back at the previous high A “C” is supposed to go past the high so the people who were selling at that high don’t really have anything to
do with that Okay now it’s January the 31st and I’m
still short on Bitcoin and Etherium Once you understand how to see these things
on charts it can become very obvious but Apparently for most of the world is just
not obvious for instance when Bitcoin was at the very top of this trend that
was very obvious for anyone who can see Trends you ever saw a trend before you
would know that that was the top of the trend now we see if this is a correction
to the trend then we are getting close to the end of the correction because
we’ve had in an A section and I know if you mention anything that is related to
Elliott Wave people freak out and think oh that’s completely subjective each
person can see a completely different count well only blind people cannot see
that this is a trend and cannot see that this is a correction that’s not a theory
that’s actually what the market did and that’s scientific fact and it’s
documented on all charts throughout the world and the shape is obvious and
that’s why I knew that this was not finished going down after making a wave
3 because I have noticed over the last 10 years that all financial markets
never turned after a wave 3 almost never so that’s why I knew that this would
wouldn’t turn at that point either then when it formed this shape anyone who has
ever seen the shape that financial Markets make would know that is the
shape of a correction and that the Market always goes down after that shape
and then when you combine it with this shape you can also this whole time it
was obvious to me and I think that I mentioned that earlier dinner during
this period of time that’s probably in this video that this would
keep going down so that’s how I knew it that would keep going down and that’s
how I know every day when something will turn or keep going and things like that
because you can tell by the shape that markets form and that it’s a language
that any human being should be able to read just like if you were learning to
read French or Chinese it’s not finished going down now and
this is how I knew it was going to keep going down but I can imagine if somebody
is watching this later into the future after this has turn because so now this
trade on Bitcoin with one standard lot is up 863 dollars in profit earlier
today before it turned up like this was over 900 dollars and is still
going to keep going down it’s not going to turn there can tell that it’s not
going to turn there and Etherium is negative 58 and this is not really a
reflection that Etherium is not as good to trade but in a way this is just
reflecting how this one has been more bullish which should be a good thing for
Etherium but during the correction it’s still a correction but it was more
bullish and when I went short it was premature and it went up after I went
short but apparently this one is not finished going down either and though
Whenever the turn is going to happen in the cryptocurrency market it’s very
likely it’s going to be the turn on all of them at the same time here is the
pattern of Litecoin and this one is perhaps even more clear than Bitcoin and
as I often use silver to help me to Identify what gold is doing because gold
is more distorted just like Bitcoin is distorted with excessive emotion
Gold is also the same way and a lot of times the patterns are much clearer on
silver so if you’re just analyzing what’s happening in the cryptocurrency
market you can look at all other cryptocurrencies that you have charts
for that is very clear it’s working on the wave 5 of C and soon all
cryptocurrency is going to turn back up I would think unless this could convert
into a longer-term downtrend but now it’s looking very likely that the turn
is going to happen very soon and that is how you trade crypto currencies and
Bitcoin although I may not be able to show someone how to become a master of
trading in one quick brief video as maybe that’s what you would like but
it’s probably not really possible for a person to become an experienced brain
surgeon watching one video on how to do brain surgery and the same thing with
trading financial markets you may not feel like you’re completely a master of
it after watching one video but Hopefully you can see that there is
definitely a lot of probability a light at the end of the tunnel that you can
master this and practice it and learn to see these things so the main thing is
you learn to see the shape of patterns on the chart and you can combine that
with just keeping your ear to the news sources just to know what’s going on in
the news but overall if you were relying on just news and commentary and so forth
you will probably be buying at the top here probably be buying here when it’s
not turning things like that ok here it is it’s February the 1st 2018 and I’m
just about to exit my short on the Bitcoin US dollar for people who
actually look at the market it’s kind of funny to say but you know all traders
around the world are looking at the market but they’re not seeing this and
the shape that’s forming here is the classic shape that forms every day on
all financial markets throughout the forex market and all other markets to is
just a natural phenomenon that anyone can learn to read I guess it’s better
that people don’t know how to do this but it’s very very clear and easy to see
there is a skill that can be developed to help you to be able to see these
things more clearly and it’s like learning a new language and whether
you’re learning Chinese are learning to speak French in the beginning you learn
what the different shapes mean in the market there are really clear shapes
that the price itself forms that has a consistent meaning and it does it over
and over them so there you go that’s the ABC if that’s going to be an ABC there’s
one two three four five of C this is going to be the place where it’s very
likely that Bitcoin could turn and I’m not ready to go long but I am going to
exit my short let me show you in more detail so this is a daily timeframe when
I go down to the one hour this would be a good place to exit and then if it
forms another correction I could get back in and go shorting it but if it
doesn’t do that when it makes the next turn I could go long or I can wait till
some other confirmation occurs but if I go long then later if I saw that was
making corrective moves that I could get out with profit so I’m just gonna go I’m
going to exit this trade Bitcoins at $1,200 profit close and Etherium is
still negative but you know that’s not a good comparison because it’s actually a
good thing why it’s negative is because it has been
a better performing pair going up and stronger going up even if this
correction going up and a downtrend going down the place where I chose to
get in was not the right place for the end of the correction hey it’s February the
5th looking a bit coin on the daily and what I’m seeing is that it’s not turning
there’s no sign that is turning I was alert for a possible end of a correction
and could show you it would look like if we had it so we have the possibility of
an ABC and then inside the C a 1 2 3 4 5 shape now that this wave is longer
that’s going to need to be revised it’s not even clear whether that’s a 5
of C once the wave gets to be long like that then it’s starting to look like
something else so what happens when it starts looking like something else is
that this could be 1 2 3 of 5 And here it wouldn’t even look like
an ABC you just looked like a downtrend so just being alert for the possibility
that this is morphing into a different type of a pattern the important thing is
that I haven’t seen an end of a correction I haven’t seen a long entry
no sign of a long entry on the 4:00 hour either but there was a possibility this
could be 1 2 3 4 5 but the problem is that the normal shape
would have a long 3 and a short 5 and so when you’re watching something in
the process of unfolding you know maybe This could form a turn and on the
shorter time frame there’s 1 2 3 4 of 5 So if that turn today
or tomorrow I might believe it but the fact that this potential way 3 here
is not distinct and is not long is a possible red flag there then in addition
to that there is the possibility that this may even be 1 2 3 of 5
Now I was trying to see a more optimistic possibility that this is ABC
of 4 that this is the 5 itself It could actually not be that so I’m going
to continue to wait and to see if anything looks like a turning point that
is different from I mean these places in the past there there never was a time
before when it looked like the turning point if people thought that something looked like a turning point is because they
don’t know what an end of a correction or end of a trend looks like and now It’s February the 27th and I’m looking at Crypto again today and here is Etherium
on the daily we have a classic shape of an ABC correction and anyone who’s
ever looked at charts and actually looked at them in a way where they were
having an intention of reading the charts we’ll be able to see that markets
formed trends and corrections and if you are not aware of that especially you
have been working at charts before and you’re not aware that charts form
trends and corrections then somehow you have been led astray somehow so you
can’t see the thing that the market actually does but we have here is the shape of a correction relative to
a trend and what I’ve been noticing this is common to all Cryptocurrencies more
clear on some than on others Bitcoin is more distorted compared to the ones that
don’t have excess emotions on both sides of buying and selling so when I go to
the 4-hour I can see a shape of a trend and if I were counting it I would
see 5 waves but I know from experience that if the 3rd wave is
shorter and the 5thy wave is longer normally that means that there will be
another wave that whole subdivision may still be part of a bigger trend but
there are 5 ways and it has now turned just bidding the last day or so
and I just noticing that is the shape that became it’s not the normal
shape for me the thing is I am using Here’s the same thing on on Bitcoin and
this is really gone past what would be the shape of an ABC has a specific
shape that feels more like this where the angle is not steep of the 3
waves together The angle is more this type of an angle the A and C are about the same size
now that it has done this it’s gone into some other things some other big
downtrend where that is just no longer an ABC and so then you could speculate
about what it might be it might be 1 2 3 of a great big A if the A is
forming on a longer time frame this could be a much bigger A and so just a
simple ABC visible on the daily we have to go to weekly and when I go to
weekly I can’t really see it clearly there either So at this point in order to trade fortunately
you don’t have to know exactly what this is doing but if this is making it much
bigger ABC it would look like this and Believe me by the time I see these waves
I will know is going to go down again and now this just looks like a straight
line on the weekly so that could just be an A And what we’re looking at is more likely
to just be in A then just make an ABC anything that’s what’s so important is
to be able to identify the ends of trends and the use of Corrections rather
than to just look at a chart and say oh is it going up oh it made a red candle
on buying it now it’s going up Markets don’t do that what they do is they form
natural patterns trends and corrections and you need to be able to read them and
so knowing when a trend has stopped and a correction has started and what type
of the correction is forming what does it look like it may be doing and we’re
in this whole process would there be a high probability place to enter a trade
so far we’ve had some high probability places to go short indeed and still
going down and if we had any more corrections that were identifiability to
go short again but looking for the end of the trend is currently a little bit
more tricky and I don’t think that this is actually the end of the trend on any
of the crypto for instance that last piece on ripple is a little
bit less distorted these 5 waves are kind of the same size but actually to be
normal the third wave needs to be long the fifth Wave needs to be short compared to the
third wave and these are all about the same size so it’s just not 100% known
as well it’s not known whether this has ended the trend you can take a risk by
saying this is a place where it might have entered the correction and the
uptrend has started but your stop-loss field is low and if it goes below that
though you lost that trade in taking a risk to find out okay today is February
the 19th and even though I do live analysis every day
I’m working on making a video here where I’m attempting to document the process
of how to trade and it’s been going on for about a month since I first started
this but I just want to show you this is neo and I’m comparing this to all of the
crypto currencies in order to see that there is a common pattern among all
crypto currencies including Bitcoin and the rest but there was a time when this
could have been an ABC and then normally that’s followed by a continuation of the
uptrend and you can see all that by the nature of the price action some people
can’t see it but after we got to this point I can now see the nature of that
movement is corrective relative to this movement
so that’s indicating that this is probably going to turn soon and continue
to go down and that this won’t be the continuation of an uptrend and that’s
not an ABC and you can clearly see that and it’s on the nature of the price
action relative to each of these sections here
and you can see it on Bitcoin it’s now also hard to say if that’s
continuing the uptrend it’s a little different angle but it’s still very
likely that this could turn and since I’ve been working on this video for up
to a month to try to document some turns takes a while and like if this doesn’t
turn that’s not going to affect any trades but we can see that there is a
possibility that’s going to turn and we know how to identify if it has turned
Etherium is another cryptocurrency that produces a little bit more clear
patterns like neo that are not excessively biased and distorted by
excess emotions the same thing here relative to the movement down which
could have been an ABC so far the movement up also has the characteristic
of corrective movement which can turn into a movement down I may not find out
the conclusion to this before putting this video up but though there’ll be
more videos in the future and of course I do live analysis everyday and there
are always people who in the trading world have gotten the hold of some kind
of a method where some indicator is supposed to cross something and there’s
a RSI and MACD when they cross a level you get in and then that is exactly like
trying to learn how to build a custom home after seeing someone hit a nail
with a hammer and then coming to the conclusion that hitting nails is the way
that you build a custom home and people have seen people say that Elliott Wave
and CCI that doesn’t do anything that doesn’t work and it’s just exactly
like if if a person was trying to learn how to build custom homes
they watched a video on YouTube on how to make panelized prefabricated walls and
then they actually did learn how to prefabricate walls and so they ended up
prefabricating a whole bunch of walls and said I still don’t have a custom
home that stuff doesn’t work didn’t mention that you had to buy a lot and
get building permits and get an architectural design do the plumbing and
all this and that’s that’s exactly the same thing it’s just if a person thinks
that you’re supposed to learn how to be a master of trading by watching one
youtube video then chances are you will be disappointed but if you actually
invest some time in practicing it over a long period of time to develop an actual
skill then you could become a master of trading but most people would go
practice that for two or three years I don’t want to do that just where’s the
software can you give me some kind of a software you have a proprietary
indicator or a black box how about a robot could you just give me a signal Oh
what about a signal just give me soon just give me a signal you can uh I’m
just looking for it you know just just just one trade show me show me one trade
so yeah that’s the the mentality of the majority of people in the trading world
and it’s kind of natural that those people are not going to get what they’re
looking for and probably won’t get it from watching any video but if you do
pick up some of the the insights that I’ve provided here it could actually
help you on your way to becoming a master of trading any market including
if there is some particular reason why you could trade crypto currencies okay
as it turns out I have not actually completed the video project that I’ve
been working on and uploaded it yet and therefore it’s going to be very
fortunate that today would be the day that you see the conclusion of the
pattern where I have been saying for several days that first of all the most
recent price action going down is impulsive and relative to that this is
what is known as corrective shaped price action relative to the movement down and
this is what we know as a turning point so on identifying this point as a
turning point which short on neo I’ll expect that the next thing would be this
will go down and take out this low and then take out the slope and the next
thing is I will identify it forms another turning point for the end of the
trend and that would be the place that I would exit okay here’s the same thing
on ethereum Ethereum also is a more neutral and
clear forming pattern as opposed to Bitcoin and you can clearly see that so
far this looks like the shape of corrective price action and at the
moment that looks like what is normally considered to be a turning point for the
unive the correction that’s where I would enter that’s where I have entered
on Ethereum and this is now going down and the next turning point will be
the end of the trend that would when I will exit then on Bitcoin if I were
just looking at this one I would not think that this is an end of a
correction the reason that I think that it is is because of comparing it to the
other ones this one is more extremely distorted and what is going up it’s
distorted to the bullish side when it’s going down is distorted to the bearish
side by extreme panic and so that’s causing this pattern to have a different
shape and a different angle that’s how I recognize it because I know that this
one is distorted compared the other ones I have identified this is
the turning point also short on Bitcoin now I will expect this to go down and
form in the shape of a trend and it will exit at the end of the trend

2 thoughts on “How to Trade Cryptocurrencies: What Actually Works”

  1. hi Scott are we at the bottom for btc and are we now turning to the upside or is it still abc correction?

  2. Hi Scott, thank you for the videos. I have been watching all your free youtube videos and i must say that you are a wonderful person. Using your free videos, i have been able to develop my own trading strategy that pinpoints the turning points in the FX market just as you say and show it in your videos. i likewise make use of simple/minimal Eloitte Wave counts. Thank you ….. God bless you

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