As expected, it happened and it was ‘violent’; I hope you all enjoyed it. Price rejection is now at 3400 sat exactly.
Now if Gulden keeps growing in the coming months/years one has to wonder what could be an accurate pricing. Looking at Gulden on a larger scale (monthly) is seems obvious to me that price « must » go at 6000 sat to ‘clear’ that level.
Knowing direction is half the job, forecasting how it « most probably » will unfold is the hard part. (But with good money management it can be very rewarding and largely improve one investors risk/return ratio :p)
My thinking on this is trend following strategies should be applied: buying the dips as price « clear » levels where previous losing buyers breakeven. Which result in shorting price.
I also like to point out that 2000 to 3000 sat is bit the « stuck in the mud » levels for Gulden.
After last week rally price could just keep going up but I’m expecting and preparing for some retracements. It’s too early to know what could be that pullback size but it should at least touch the top of the previous range (orange)
I believe this pullback is going to « paint » or draw» a « Cup & Handle » bullish pattern.
And that pattern will fuel price to the next level (around 5200-6000 sat I’d say).
Sounds a bit like minority report right ? (maybe we should call this article guldenity report) =D
This give an occasion to remind why I do those analysis, beside I just enjoy it.
I believe technical analysis works on any market and that price carries all necessary information we’ll ever need.
I fall into gulden while I was bored on not trading during week-ends and was wondering if smalls and ‘iliquid’ market of cryptos work the same as any others markets. I now believe it does.
Some gulden people told me that Gulden was a « special working market » but so far I can’t find any evidence of their claims…