So, I've been reading articles just like half of this entire network for about two months. One of the things that struck me was his idea of prices being a quantum phenomena and happen irrespective of news or anything else. Price moves in pre-ordained existing patterns that repeat, and this appeals to me as a chemist. Kids don't grow linearly. They have growth spurts. It's like they level up. If kids do that and atoms do that, why not price and cryptos?
Orbitals
Modern chemistry shows that atoms are comprised of protons, neutrons, and electrons. The electrons orbit the nucleus holding protons and neutrons. As the electrons get more energy they go into larger shells that contain them. There are a few different types of shells called S orbitals, P orbitals, D orbitals and F orbitals. When you move from 1S to 2S the shape doesn't change. It just gets bigger. 2S and 2P look pretty different, so it's possible when energy levels get high enough that the pattern will shift, but for the mean time I can see similarity in chemistry orbitals of the same level and higher energy level (price) patterns in crypto prices.
In chemistry at least I can use something like a laser to elevate an electron from a low energy state to a high energy state. In price land the only variable I seem to have is time. The only real control I seem to have is timing.
Technical Analysis
The basic premise is that the patterns in the charts are likely to repeat. If you are able to discern the pattern then you have a leg up on your competition buying and selling coins. I'm sure to many it looks like reading tea leaves looking at charts and hoping there are patterns, but from what I can tell there are generally some highly repeating patterns worth looking into. I'm hardly an expert at the field at large but I'm able to recognize patterns.
Now, one might question if this is such a wonderful thing why don't people do it? The answer is... they do. Technical analysis seems to happen everywhere. One of the main things though is that it's harder to do for stocks. That's because the markets are so highly manipulated with high frequency trading and exchanges that buy ahead of customers.
It's harder to cheat buying and selling cryptos and basically impossible with decentralized exchanges (looking at you Bitshares).
Patterns:
I've been looking at litecoin. It already went up 30%. I had bough it around $120, rode what I thought at the time was the high, traded some out, lost money on those, and recently consolidated all my coins back into litecoin. One could legitimately say that I'm acting out of turn here. Seems a little nutz to buy in after a 30% gain in a few days, but I don't think we're done just yet. Far from it I think we're about to go nuclear. I think it enough to have put all my crypto eggs into that one basic (other than muh steem power). I believe Steem and SBD will get their turn too. Hopefully I'll catch those after I ride the litecoin blast.
litecoin charts
Here's a picture of litecoin.
Here's another one.
Those two look rather uncannily similar to me. What's really interesting is that they are taken months apart. The first one is the picture of litecoin when it's about to achieve a record high. The second one is where we are now.
Here's the total picture of where we are.
To me, as a non expert, having barely traded much, this looks like we are about to repeat the cycle that gave us the largest surge in LTC price that we've ever seen... only this time we're starting a little higher and looks to be roughly 10% stronger. We are going from the 1S orbital to the 2S orbital. That's how I can wrap my head around this.
As I said I consolidated my holdings into LTC at around $218 (I sold all the other stuff I bought at a loss and reconsolidated into ltc). I've put in a limit sell order for USDT at $406. I think the price surge will likely go around $420, but I'm trying to be a little conservative on a risky bet. I'm then hoping to catch the mini correction prior to an all time high and then truly cash out of litecoin (except to maybe but the first fat dip that looks likely to follow).
This is an experiment
I realized I didn't like trading lots of coins. Too much hassle and too much stuff to look at. I'm happier having just one coin and really only focusing on it's well being. That's contrary to not keeping ones eggs all in one basket... but in cryto we're all basically tied to btc anyway and since the market as a whole moves as a whole I'm not sure owning more than one crypto is truly a diversified portfolio anyway. I was losing sleep and time watching them all. I don't think that approach is for me.
If the experiment works I'll look to repeat it. I think Haejin's method for those that are comfortable buying and holding for a while is likely a better and safer long term play. Buy a coin at a suspected low point and then just ride it all the way to to the top. That's essentially his advice. He's just trying to give some extra pointers on where he sees the bottom and top.
The approach I'm going to try out while this market is rebounding is seeking out these patterns that show evidence nuclear explosion happening. It's a lot easier after a massive dip. So, I don't think I'll be trying this still in March. That seems tricky af, but we're all sorta expecting recoveries right about now since it looks like BTC bottomed out.
The plan
I want to get in literally a few days before a truly insane price breakout. So, I'm trying to catch them in the consolidation phase right before the nuclear pattern happens. Looks like for many coins that will follow a 30% increase. Again, this looks nutz on paper, but not if the charts actually repeat.
So, I'm pretty positive buying at the very lowest point is a better financial strat overall, but I'm not quite that patient. I get a little anxious, and I like large bets.
This plan isn't for everyone. There's a good chance of loss after buying right after a pump, but I'm willing to run this experiment and see if it's successful. It's not a method yet, just a hypothesis. Worst case I own a bunch of litecoin, which I think is an undervalued coin anyway even after a 30% pump.
Wish me luck.
Disclaimer
I'm not trying to give you advice. I'm trying to document my decisions on the block before events unfold. You gotta figure out what's right for you and your family. There's no way I can gauge your financial picture or ability to handle risk. Get a planner. Don't rely on my inexperienced ass thinking I can read tea leaves in charts.
There's other legal mumbo jumbo, but basically you gotta own your own risk suckah.
We'll see in a week or two if I'm a fool for buying after a 30% rise, a genius after predicting a rise, or a lucky guy who picked a crypto in a bull market during a correction, or just rando posting TA hoping that some whale gets lucky on the pick and ride that train as long as possible.