Do any of you use RSI/OBV/Moving averages to pick where the price is going? Does that work for cryptocurrency? Wondering if I should bother learning it.
>>3297293
Crypto is 90% coordinated shitcoin pump and dumps, but this is what I've noticed.
> ICO gets shilled on /biz/
> ICO sells out instantly (if it doesn't it's shit)
> ICO gets released onto an exchange
> immediate pump, so sell to make your gains
> it dips, corrects, and you should buy this
> it sees another pump shortly after it is first introduced to the exchange
> this pump usually doesn't surpass the initial pump
> it dips and corrects again
> you should buy this, or move onto something else
> this 3rd dip is the last dip that the whales use to sell off their remaining bags
> the 3rd pump is usually the biggest pump out of the three
Good example of this is DNT.
of course learning it will give you some more knowledge, but it's a self fulfilling prophecy. usually the indicators will signal well when some green or red bars will occur but that's not what's the most important at all. The way to really make money is get big percentages on sure (high probability of success) trades and load up on cash. The way to do that is look at predictable patterns (this may be hard to do but there are a few ones with extremely high probability) and in a lesser extent follow the order size and volume.
Knowing when to get in and getting out is also crutial. For example assume you've bought at a good place that's high probability to success even if you start losing immediately (happens more than 50% or the time) you have to let it play out, which means waiting for the next bounce and not let the price going down cloud your judgement (remember you're in a high probabilty trade), otherwise you will most certainly buy high and sell low