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#Bitcoin and its friends the MAs - Day Trader ExplainsWelcome back to TJ's Trade Corner, today we will take a HTF chart of Bitcoin. There are many similarities between the last bear market and this one. Yet, most people like to see on the bullishness, over-leveraged positions might get into some problems. We have the 50 Week MA, the 50 Week EMA and the 100 Week EMA. Right now, the 50 MA and EMA are the current resistance and gave us last week a doji candle with slightly significant sell volume. This week is not even near a significant volume, which reminds me of the similar situation in 2015 as shown above. TJ- Stoch is showing an overbought condition, yet no cross-down for now. This lets me to believe that we will test the 100 Week EMA which is currently at 5548, get there a significant rejection on the daily and then head down. Head down to which point? Well, looking at the similar example in 2015, we had a 30% with a good 10-15% wick. As for now, it would be a drop to 4.2k with a nice wick to the ascending support (or the less dramatic option would be a drop to 4.8k with a wick to low 4.6k). The important notice would be that we close above the previous resistance (which led to the 5k breakout). That again would be a nice S/R flip, as we saw on $ETH and then we would be ready to head more up and finally into the old accumulation zone of 6-7k. Little addition to the TJ-Stoch, going into the zone of 90p + is very attractive for small impulse moves, which would give the background for the 100EMA test. Overbought conditions are not always bad.. Moreover, the S/R flip, with the next big impulse move, would be very beautiful if we could get once again the ~~40p rejection, as you can see on $BTC is really a very strong zone. This trade has been published before in my private learning group "ETG". We are going over many observations and possible trades very frequently. It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading. Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested. Like and Follow me and you will find the space interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins. Cheers TJ
BITSTAMP:BTCUSDShort
by KongTrading
1
4 Beginner Bitmex Mistakes That Can Ruin Your Whole Portfolio! 4 Beginner Bitmex Mistakes That Are Ruining Your Chances of Profits And What You Should Do Instead 1. Over Leveraged Trades No matter how great of a trader you are or how much experience you have in technical analysis, over leveraging is a sure fire way of racking up loss after loss in BitMEX or any margin exchanges. Bitmex allows you to borrow 100x against your deposited bitcoin. At 100x, a small 0.5% move in price will get you liquidated. That’s right, just half a percent in price movement of the underlying asset at 100x is all you get for safety. Example : If you 100x Long XBT at $5220, your liquidation point would be $5246. That’s only $26 worth of room. The lower the leverage the more room you get per trade. Guide to Success: Keep leverage low, 10x maximum but try to use up to 5x mostly. This ensures you have more room and time to become profitable and take profits. 2. Over Position Size Everyone has done it at one point. You know the price is going to move a certain way and you want to capitalize as much as you can on the opportunity, you type in a big number and hit the long or short button. Bam! Price moves the opposite direction and you get this email: " Your Bitmex Position Has Been Liquidated " Ouch. Guide to Success: Use only a set percent of your total portfolio per trade. Use an amount that you wouldn’t be too worried about losing but would also get a nice return if the trade gets profitable. This ensures all losses are manageable. It’s very critical to not to importantize one specific trade idea. 3. Lack of Patience You haven’t traded in awhile and are itching for a position, you see no good opportunities so you look at the 15 minute chart. You enter a trade that looks great for short term profits. What luck! Your position is in profits, now it's time to exit quick before the market turns the other way. You hit the “Market” button. Uh oh! You just lost more money than you should have made. What happened here? Simple, the BitMEX trading fees are very high if you use market orders. If everyone could make easy money on BitMEX, the platform would not exist. BitMEX makes money from trading fees. When you execute market trades, you pay a hefty 0.075% fee on the total size of the position you are trying to exit. At higher leverage, you pay higher fees. This isn’t the only fee you should expect to pay BitMEX. Guide To Success : Never use just the shorter time frame charts to trade, always look to the further out time frames to see if they all align. Use limit orders to enter/exit a trade and prevent BitMEX from taking a huge chunk of your profits 4. Emotional Trading You finally did it. You made a bunch of money on BitMEX in one trade. You’re euphoric and ecstatic about all your winnings. Knowing you’re on a win streak you go into the market once more with a bigger position. What happens next? Splat! You are liquidated, your winning streak has ended in a bad loss. Why did this happen? One word, emotions. You believed your winning streak would last and let euphoria control your trades. The opposite can happen during a losing streak, in that case it can lead to revenge trading with high capital allocation and high leverage. Win streaks don’t last and losing streaks can last forever. Guide to Success: Always think and be analytical. Do not let winning (greed) or losing affect how you execute your next trade. Conclusion: Trading on BitMEX is not easy. If it was everyone would be Bitcoin millionaires. By recognizing mistakes common traders make, you can prevent yourself from making the same silly mistakes and increase your chances of making consistent profits. Feel free to support this post written by me, Shaggad, with a like! Thanks for reading! -Shaggad
BITMEX:BTCUSD.PEducation
by shaggad
Get ready for one more leg up before the correctionAlthough the BTC is overbought on weekly and daily charts, we have an ascending triangle formation. Ascending triangle formations usually result in an upward explosion. In 4 hours, the stock RSI is headed up and Tom Demark count gave a green 4. I think the price will be moving up one last time before the correction comes. I think 5350 will be tested again. If that region breaks, the breakout takes place and the price can go up to 5629 (weekly MA50). Here is my trading idea for Bitmex: XBTUSD Long @ 5250-5260 TP1: 5320 TP2: 5400 TP3: 5580 SL: 5030 LEV: 1-10X ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
BITMEX:BTCUSD.PLong
by EylemCulculoglu
Another massive move ahead of us!!! Don't miss out..... XBTUSDGreat profits today on BitMEX as my last chart on XBTUSD was spot on with the breakout we saw earlier today that was a $1000 move up in 1 candle make sure to LIKE and FOLLOW as all my charts are straight to the point and very accurate make sure to also follow me on TWITTER to get multiple updates daily! Thanks, LiquidMEX DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
BITMEX:BTCUSD.PLong
by SolStackz