If you have been following my crypto journeys this year then you have no doubt gotten to read some great tips and tricks as well as a few of my big mistakes that you can learn from. I have been trying to immerse myself in every aspect of cryptocurrency and find the best ways to explain this complicated subject to the masses. I have taken on ICO's, Taxes, Scams, Tokens, Buying, Selling, Exchanging... you name it, but one beast still stands in my way; Technical Analysis.
To Thine Own Coin Be True
I don't come from a trader background like many people in the cryptocurrency space, I come from a technical background. I have been coding since I was 16, and while I am no where near an expert in the field it does give me a bit more insight then most. Because of this, I don't do a TON of day trading (although I do get in there and take advantage of any crazy good buy opportunities to sit and hold on). I have been trying to read as much about Technical Analysis as I can these days so I can venture forth into full time day trading with some sort of foundation. This is where one of my secret weapons comes in and I wanted to let you in on one of my favorite resources online.
Crypto Traders Facebook Group
There are a ton of great resources out there for Technical Analysis, but sometimes you find the best stuff in the most unlikely places, like Facebook! The Crypto Traders group on Facebook has been my go to place to get solid and proven Technical Analysis over the last few months I have been into it. I will tell you that I had to wade through a ton of shite-filled groups on Facebook to find this gem, but I did all that for YOU! This group is the real deal and I have watched it grow from just a handful of dedicated crypto traders to almost 6,000 members in the last few months. Maybe my secret is already out???
The fact is, you can go a lot of places to get Technical Analysis, but I feel comfortable in this group and the calls are spot on. Check out the below chart for Vertcoin and the call made by them just before it explodes.
As you can see from this screenshot I have here, this was about a 70% gain and not only did Crypo Traders call it, they also explained why as well. This is another aspect that I really love. Not only do they post these great calls for free, they always explain WHY (beyond just standard technical analysis) they think the coin is going to profit. Here is another chart for NEO with a great call on hitting that bottom resistance and then a 20% bounce a few days later (this coin went from $27 to over $30 after this call!).
What's The Catch 'Stache Man?
I wish I knew! These guys truly want to help other in the cryptospace by providing great technical analysis for free in their Facebook group. Will it last forever?
Of course not!!!
Nothing this good does, let me tell you...
While I can't take advantage of every call these guys make, now you have one of my top secret resources for good Technical Analysis. Do I suggest you follow EVERY call blindly? Of course not, that would be crazy. No one is going to call every change in the market right, but coming from someone who has been looking at TA charts until his eyes bleed, I can say that these guys are on top of their game.
A Technical Look Forward
Technical Analysis is a great tool to use for making an informed decision on your trading, but it is by no means full proof. Make sure you do your own research and really try to support the projects that you believe in (while making a little profit too!). As my TA skill increase look for more on this subject on my blog in the future, because The 'Stache wants to keep that crypto tide rising all his fellow ships in the harbor. We have been weathering the storm of inequality too long and I truly believe that the cryptocurrency revolution is here & ready to liberate those that are willing to listen!