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I've said it before, and I'll say it again.
Technical analysis must be combined with news to give you the best results.
And that word of advice just gave me 200% on my $3000 BSV investment.
I knew that the move would be made soon, and in my speculations, I saw that the move would be somewhere in the neighborhood of 150% increase.
But when I saw that the price was reaching new highs and breaking boundaries, I decided to ride the wave till it died down.
And I made 200% on my trade.
Here's EXACTLY how I knew what would happen.
I read a lot of crypto news. And BSV is usually in the news because of how controversial it is.
The coin has been centered around controversy from the get go, and it's only normal that it will continue in that controversy even after this big move.
I learnt that the dispute between one of the creators of BSV and the family of the other was becoming hotter.
And just at the time of this dispute increasing, the charts of BSV showed a tweezer bottom formation.
Usually, that isn't enough to enter a trade, but with the RSI telling me to buy, and with the Bollinger Bands contracting,which indicates a big move is imminent, I knew that all these indications, coupled with the news couldn't be wrong all at once.
So I risked $3067 on an investment in BSV, which I took out of my Bitcoin retirement portfolio(I created this for myself and I add $100 to it every month)
And this move paid off significantly well. I now have my money back, and even more to spend!
And I caught this move by simply combining the power of news and TA.
I have since exited my position in the trade, because it doesn't look like it can go any further.
But if it does, I told you so!