The basis of technical analysis is that history repeats itself

12 de set. de 2019

We see the market deadlocked again, which is why I haven't updated the article since September 7th, because I hope every article on TV can help the readers, not write for the sake of writing, so I won't update the content without definite certainty. Now let's take a look at what happened on the 7th when I said the 2 hour top deviation was formed, and also compare the previous 3 moves.

We all know that technical analysis is based on the repetition of historical charts, and it is based on the understanding and analysis of history that we can judge the current and future trends. But it's still probabilistic, so don't follow it blindly. Your knowledge of historical charts is also very important, otherwise you may rely on an inappropriate historical chart and make a wrong judgment.

What we've seen so far is that the ripples from the 2-hour top divergence continue, but the difference this time around is that prices are much less volatile and positions are not falling significantly, suggesting that the bulls aren't giving up here.

The current situation is that between the downward trend line (a) and the price of the currency, there are actually several short and medium term averages, including ma6, ma36 and ma72. At the same time, the lower ma144 also rushed to form a reinforcement. So long and short in this $500 space, Chen bing million (bitmex and okex contract positions are at a high level, has not significantly declined), there is a showdown.

So what we see here, similar to what we saw in November 2018 and April 2019, is that for the bulls, if they can't break through the trend-line pressure, this time it may not be so good luck, which may cause investors to lose patience and turn into the bear camp.

In the short term, our advice to you is to stay on the sidelines and hold spot + hedge. If you break the trend line up, you can unhedge; otherwise, we wait for the break position down to increase the short chip.