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BTGUSD

BTG - Bitcoin Gold Has Potential to Fly as It Tests Resistance Looking at the 4H chart for BTG/BTC, BTG has been making some bullish moves that should not be ignored. We can see that BTG broke out of its falling wedge and is currently testing the top of its descending channel.The price action has set up a nearly complete inverse head and shoulders pattern. We have had several pops above the trend only to be pushed back down by sellers. If this buyer pressure continues, we should expect a breakout. If it is anything like the last pump, it could turn out to be an incredible trade. The set up is good and the MACD looks bullish as it remains above the zero line. I'll be watching this closely.
BLong
by jpbrown1023
BTGUSD Bullish Cross 50EMA 100MA Long-term Uptrend SignalBTGUSD has just recently had a bullish cross of the 50EMA and 100MA Moving Averages which historically is an excellent long-term bullish or bearish trend signal. BTGUSD has already formed a bottom and had a strong movement upwards on Jan 15th. After this retrace and minor correction there is a possibility that BTGUSD is on its way to test the strong resistance at around $32-$33. This will be the third test and if this resistance is broken $80+ is on the cards. Afterwhich I believe there will be a consolidation period before further upwards moves into the $145-$147 region. First things first, lets see if BTG is able to break the stubborn $32-$33 resistance the third time round. BTG is a fork of BTC which aims to co-exist and it offers decentralised mining to the everyday people. There is no need for the expensive mining systems with this coin. A gaming graphics card will do just fine. It also offers many benefits and amongst all the bitcoin forks it also offers the cheapest transaction fees and has a very strong community too. It is also an excellent hedge against the possibility and threat of centralised mining of bitcoin by self-interest miners. Is this happening now? No, but it is always a possibility. There are articles out there that have been warning of this. At the moment, there is no real danger and furthermore it is my believe that the existence of BTG dissuades this kind of action. These are just my thoughts. Before you decide to invest please read all about Bitcoin Gold . You can also visit Bitcoin Gold Telegram Channel and chat with the friendly admins and community there. This is not trading or financial advice. Please do your own research.
BLong
by mdyassink
6
BTGUSD Inverse Heads & Shoulders Pattern Forming on DailyJust wanted to share an observation. Possible BTGUSD Inverse Heads and Shoulders bullish pattern forming on the daily chart. This alone does not carry much weight however, if you look at the ETHUSD chart (refer to link below), the 50EMA is close to crossing the 100MA. Historically the crossing if these lines on the daily chart signals a possible long-term uptrend. Check the past history on ETHUSD daily with the 50EMA and 100MA for your own analysis. Not financial advice. Only sharing an observation. Nothing is 100%, only trade what you can afford to lose and advisable to use only a small portion of your capital to trade each time with good risk management. Tips. Read on if you are a newbie trader: Margin Stop Loss - Always give more allowance for margin trading stop losses as there are quick spikes (sometimes called scam wicks) that can take you out (hit your stop loss) before moving back in the direction that you anticipated. Never place your stop loss too near the support area, if you are placing a long trade or never too near the resistance area if you are placing a short trade. You can study from past history based on major support areas and moving averages, by how many points (or %) does the movement move below the support area before recovering back up (study past history where there are good bounces from support areas / or rejections from resistance areas). For example if the support area you determined to be at 155USD for ETHUSD, based on past history you noticed that it usually moves further down before reversing near these support areas, for example by USD$2-$2.5, then your stop loss can be placed at 152.50 instead of 154 or 155. Also, if the stop loss you are going for for a long position is a round number like 150, I usually put it as 149.5 or 148.9. The same goes for taking profit. If you are placing a take profit limit order, you can consider going for a price point that is slightly lower and not a round number. This is so that you avoid placing orders where many other traders will be at, as you might miss out and the price might reverse against you before it hits your take profit limit order. Also once your trade is in a small but acceptable profit, always get your stop loss placed in profit. Especially when it has passed a good support or resistance area (example for a long trade order that has crossed a good support area now becomes support - move your stop loss to below that support area). For a long order, I would usually wait till a 2nd resistance area has been crossed, if my order is already in some profit then I will place a stop loss below the 1st support area (1st resistance turned support area). This is if you are the type of trader who wants to ride on a mid-term to long-term uptrend. This means you are willing to take that chance of either getting stopped out either in small loss or small profit in order to have the chance and possibility of riding on a longer term uptrend with much more profits in that trade. You can always place small portion orders and add to those orders as your trade gets in profit while raising your profitable stop loss to ensure that you will not lose in that trade. If possible try to never let a green profitable trade go back to red again. This is just what I do sometimes and hopefully newbies will find this useful. Remember never to over-leverage or place high risk large trades or go all-in. Losing with good risk management makes your losses small and you live to fight another day!
BLong
by mdyassink
2