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RE: Does cryptocurrency have a predictable psychology?

in #steemit7 years ago

Nice post @lifeaef.

I think there's no reason why Elliot Wave can't work well with cryptocurrency trading too. The crypto markets are different to stocks/forex in at least a couple ways though:

  • As this is a relatively new disruptive technology to most, they are generally going to be bullish markets.
  • Extreme volatility. In traditional markets this kind of volatility is usually only seen during critical news periods. In cryptocurrency it swings wildly most days!

Given the above, it may be prudent to employ wider stop losses and set more optimistic targets.

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What you say does make sense @acelad. Thank you for the advice, I'll keep it in mind