$QBTC gap up today at NA open?$QBTC looks ready for another Monday gap up at the North American markets open. Tp3: 68.46
Qbtc
Dubious Break out Attempt on BTC to the UpsideHad no choice, sold off some stocks that show little promise (bad investments - that's on me), to add to QBTC in both USD and CAD late morning. If BTC Breaks above this descending Trend-Line, it can move up to 24 K in a hurry.
I still favour a correction lower in the next couple of weeks and hope that I have cash available if it happens. In the meantime, sometimes a small YOLO play is in order. If BTC breaks past 25K and I am not in as much as possible, then I will not be able to forgive myself understanding this opportunity to capitalize on BTC gains within my investment account.
Personal Commentary: I would rather DCA into BTC than hold weak players in the CBD-oil industry (they don't stand to benefit from legalization as they are already legal and poor performers). I am being impatient, and have taken an ugly draw-down, but I am not interested in that industry, both CWEB and TGOD can make a great recovery and reward investors that bought the lows. I just bought at the wrong time and the wrong price, so cutting my losses. Would rather have more cash in BTC in my investment account, even if it drops short term. Will DCA whenever I have spare cash available that isn't being directed to dividend-income growth. I do hold crypto directly, this is an investment account play, and intending on holding for the duration. I have already purchased QBTC at significantly lower prices, so this is adding to my position. Also added Dividend income today in both USD and CAD.
QBTC - Bitcoin / Price on the roof of the rising channelHi everyone,
Canadian should be proud to get the first Bitcoin ETF. I would like to share my analysis with you.
There is 4 gap up to watch (possible retracements) :
Maybe you know but Gap up are not always covered.
bottom of gap 1 : 25.45
bottom of gap 2 : 22.99
bottom of gap 3 : 15.82
bottom of gap 4 : 11.61
Negative Points found / short term
-Price is now under the 1D VWAP (dangerous)
-Price touched the roof of the channel
-Price is over the bollinger band
-RSI in overbought territory
-Bearish RSI Divergence now visible on 3h chart
-Macd loosing momentum on the 3h and 4hr chart
Possible retracement from the last top if bulltrend is over :
0.5% fib : 15.88$
Golden fib 0.618 : 12.13$
0.85% : fib 4.76$
Probable retracement from the last high if bulltrend continue :
Golden fib : 18.32$
0.5% fib : 20.88$
Most healthly support if Bull trend continue.
EMA RIBBON currently in this rand : 22-23$
MA 21 (DAILY) currently at 23.23$
Bottom of Bollinger band : 17.41$
Bottom of Donchian Channel : 18.91$
Median of Donchian Channel : 25.31$
Thanks for leaving comment or anything else :-)
You can find me on Twitter.
Have a wonderful Christmas !!
BTC Correction - Will add on a dumpI have no illusions that we are going to 100 or 200K in a straight line. Bears gotta eat too. We have yet to properly consolidate the move above 20K, also corrections are healthy. Last sizable correction was 15%. From here, if that 4hr candle closes red, we might get that healthy 10-15% correction to about 20,500 or even lower, even a 20% down from here would be a gift for those with cash to spend. I have a couple of lousy stocks that were a waste of cash last year and this year, I don't want to sell at a loss, but I'd rather the cash be with BTC in my investment account via QBTC which has a nice correlation. Still not there yet, but a correction is on the way. Just be ready to buy when others are despondent about a dump.
BTC Correction StrategyNot selling obviously, taxes at this point and conversion would not make sense for me, therefore I will add, but through QBTC - may also buy a little extra actual.
Support by fib drawn from March to Now puts 19,000 as an ideal entry for adding, or for the very brave, starting a position in BTC when the correction comes. Corrections will always happen, BTC will allow new users to hop aboard, but the trick is to buy during dips for the best psychological outcome. I do have spare cash, but at this point, I have some laggards that I may just cut my losses on and call it a day. Looking for the next serious drop in BTC to sell two stocks that I don't see much a recovery on as a means of cleaning up my investment account of non-performing assets that do not pay me a dividend (about 1k CAD worth of under-performing Cannabis/CBD oil stocks) - my patience for them has just about run dry - willing to lose a few hundred and just call it bad timing on my part. Everyone makes mistakes. Already have QBTC in two investment accounts, so I am adding, not starting. Also holding actual and alts. We are due for a correction at some point.
A few words about corrections on BTC. The bears might be rekt since 20K, and they are no doubt resting, but they are not dead. Also Whales can at any moment decide to dump. Bears tend to strike at night, weekends and holidays, probably the best time to invest is during those times. Sizable corrections have occurred during days as well (Eastern Standard Time), but those typically happen at the culmination of a noticeable downtrend; just an observation. After this kind of run-up a 10% down move is bound to happen at any time. I am not in the mood to start "picking tops," and engaging in a short, but rather waiting for the move.
Looking for a move below 16k on BTChopefully before end of day, starting positions in QBTC for investment accounts, play money in USDTFSA and CADTSFA. Have actual BTC, but this I can hold in a tax shelter. Target below 200 MA on the 4hr for a starter position. May cut initial position size by half if price does not co-operate because the discount from ATH is still fairly decent.
Scalping Target on $GXS is Potentially 6% - 17%. On Board?GXSChain is a coin with 100mils supply with 60% of it on circulating. One of it's biggest volume on the market is against CNY. Yes, China Yuan! Meaning chinese love this stuff or some whale of Chinese grind on this chain.
Charts looks quite bottom at the moment on the 4HR time frame the RSI so oversold, looking forward for some swinging movement upward.
My target are 2200 and 2427 as I mark it with pink line. I love pink for my targets. It's sexy. And stop-losses on blue line. I kinda dislike this kind of blue but it makes me clearer that i need to stop-loss if my favorite setup going to wrong direction.
GXS Chain you shoud on board peeps. If you like the idea you can give your likes, comments and sharing this idea and don't forget to follow me to support. Trade safe!
