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Bitcoin: How to trade in next 7 daysHello Traders, Mr.TTT here back with a Bitcoin TA! Hope all of you are fine...So lets begin! Bitcoin has now lost support on the red Moving average, and will correct during the next day most probably. After this short bear movement we can look on the graphic the most probable reversal and buy zones. BTC has had some awesome 2 weeks and needs some sort of correction wich is perfectly normal. Bull mode can be only confirmed after we pass the 10k$ mark. For now this is how i would trade bitcoin. No entering trades until blue boxes zone. I will update this chart when we reach 20 likes! Feel free to comment your opinion below :) Namaste, Rodrigo
BITFINEX:BTCUSDShort
by RodrigoFAC
1
LTC - Loaded and ReadyHey guys, welcome to the show. I've been quiet lately whilst BTC has been doing something i wasn't fully prepared for so I've been distracted however today i wanted to put the spotlight on it's lightweight little friend, LITECOIN. Now we see here it's sitting on some decent support, and wedging in a beautifully bullish manner. The RSI is low and also sitting on support; in other words - She's likely to make some gains quite quickly, quite soon (my guess is ~10% though we can always hope for more). So, get your orders ready, set your stops, and get ready for a little BAM. Just be mindful of BTC at the moment though, as we all know how it likes to bring down the buzz if it is feeling moody. Happy trading ;)
by Disaster_Chartist
Fibs and the RSIHello all and welcome once more. While BTC is doing it's thing I want to take some time out to draw your attention to something that you may or may not be aware of... RSI (Relative Strength Index). Now I'm sure most of you know how it works and what it means so i won't waste your precious time giving a run down on that. But did you know the RSI also respects Fib retracements? That's right! Why is this interesting? Because when determining the likely-hood of a movement in a particular direction, a simple trend line or channel won't always give us enough information. Sometimes it can lead us down the wrong path, while we scratch our heads yelling "WHY!!!". By plotting a fib or two over the RSI we can see levels of support or resistance we may not have noticed before, determine the strength a resistance or support has, catch any divergence early as it's easier to see and make better informed decisions overall. I hope you go out and give it a try, it is definitely helpful when you know how to use it! Happy trading :)
Education
by Disaster_Chartist
Well Well Well... BTC!Hello all and welcome to my little corner of the internet. It isn't big, nor is it fancy, but what about the chart art! Now I've warned of a correction for some time (quite a bearish outlook if you were to look back at my other publications... and give em a like) but it seems as though things are playing out as i stated. I hope that any who viewed my charts saw the drop coming a mile away as i did and took the correct precautions. Lets jump into the meat though. I'm still quietly confident BTC will drop to ~9.3k-9.7k (The wick low could be 9K) and i have arrived at this conclusion based on probability and the accuracy of my charting. Here's how it is - we're still in a bear market guys, it isn't hard to see that, but after this low we could very well be looking at a recovery and a TRANSITION. YES! a transition into the long awaited bull season. This is great news, now I'm not saying it wont go for another dip, in fact i expect it will - as is required to signal the return of a healthy bull market. Check out the green channel i have plotted on the chart: This is the healthy channel. This is the area we want to see BTC move in and when it makes a break above we simply say hallelujah and we sell (at the peak of course!). When it breaks below we double down and buy the dip, this is how money is made. There are lots of "analysists" out there that will feed you what you want to hear, because they want it too but the market cares not for your wants, dreams or aspirations. The market knows only what the whales want: either swim with them or get eaten. Now there's always the chance I'm way off, as i said the market doesn't care, but i make my calls based on probability and as such there's a good chance i have it pegged MOST times. Anyway, time for me to wrap this up so I'll leave you with this: REACT. always REACT. cover your butts because at the end of the day I'm not going to make you money, the other analysists aren't going to make you money - that's on you. So be careful in the worlds most volatile market. I wish you all the best fellow traders!
by Disaster_Chartist
Probability vs PossibilityThe battle that wages on every market, in every trade... Probability versus Possibility. Now I've seen SO MANY predictions and forecasts lately telling of breakouts, moons and lambos - It's disgusting. Why? Because while ANYTHING can happen (possibility), one must consider the chances of these events occurring (probability) . Now i don't mean to insult your intelligence by defining the words in such a basic means, I'm merely setting an argument. Let's consider Bitcoin for a moment, and where it is currently. IT IS STILL IN A DOWN-CHANNEL. It has NOT broken the resistance as of yet, and every time it's tried since it's fall in December, it has fallen further. Now the healthy channel of recovery is below us, it's baseline sitting in the 7.7K-8.2k zone. The green channel extending from this is the area in which Bitcoin feels comfortable. The most probable course of action is a fall, to either the 9-9.7k area before a reattempt at the resistance, or a straight skydive to the baseline. These two options are far more likely than bitcoin breaking out and seeing a new A-T-H. This is not just trade advice, this is life advice - Please consider the most likely course of actions before investing your hard earned money, before listening to all the hype, before letting yourself be led into disappointment. Now if I am wrong, if Bitcoin breaks the resistance and goes for a climb, you can jump aboard and sail the profitable seas at your leisure with slightly less profit than you could have. If i'm right however, you stand to lose up to 20-40% if you haven't taken the correct means of protection in a small and volatile time period. DON'T let emotion rule your decisions, this is a game of numbers and probability. Whatever you decide, i wish you the best in the coming days :)
by Disaster_Chartist
4
Exciting TimesBack toward the resistance we go! This should be fun, just make sure to constantly update your stop losses so you don't get caught out. Now I've already posted a vibrantly worded analysis... kind of? Anyway, here's the deal; Bitcoin is like an explorer pushing through scrub, and now they're getting close to some thick 'n' thorny jungle. The question is, did they bring a sharp machete? We will find out soon enough, eventually it will break this bear market and the bulls will run again but is it going to happen this soon? I remain seated with a healthy skepticism, unable to shake the feeling that this climb has been a little too steep, considering the "healthy" trend channel (big and green) is getting left behind. Remain cautious fellow traders, and may the gains rain upon you all.
by Disaster_Chartist
EUR/USD - The Middle of the Battle - BULLS or BEARS???I analyzed this chart with the intention of helping you see the bigger picture of where the overall currency pair is heading. The Euro looks like its in a uptrend but it also could be in turn for a downtrend. In my educated opinion, I think the currency pair holds strong bullish sentiment and is riding to some higher highs unless some economic events unravel (inflation, unemployment, etc... cough* cough*). A look at the pairs historical support and resistance levels helped me to better understand where this pair is heading. From the Red Line at about 1.035 to the current exchange rate at about 1.22 the difference is 0.185. Add 0.185 to 1.22 and you get 1.405 right about where that heavy resistance green line is located. So currently you are right in the sweet spot; the middle of it all. The price will either move up and stay in trend or retrace down back to support but like I said I think the Euro may be heading higher than the US Dollar. I also could be wrong but that's my sentiment. Also, I Incorporated yellow lines to keep you wary of these levels. These lines according to my calculations will be points of where many traders will be making trading decisions due to economic events, technicals analysis or whatever it may be but these points will experience a high level of volatility so be careful. Key Tip: Take some time to look at the bigger picture instead of what's sitting right in front of you. Good luck trader. P.S. If you liked my idea please share it and help the next person in need of trading advice, thank you!
Long
by austinlmkc