Get started

Bitcoin / Euro

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

BTCEUR trade ideas

Next is a break out regardlessHi there wonderful person! So, next week we will either breakout on the upside; which means that the price breaks the long tested triangle. Or we will break out on the down side, which means the upward trend is broken and support line of 8058 will be re-tested. It is not unthinkable that we could revisit the 7772 support line, if the 8058 does not hold. Personally, I am eye-balling the support line at 7040 for an entry, but will see if I am not dollar averaging something in on the 7772 as well. A short message from me today, but wish you all the very best and as always: stay safe out there!
by egilagre
This is tense, but probably going to dipHello wonderful person! It has been a while since my last post, but nothing fundamental has really changed. We are still within the triangle,but in the upper region none the less, an overall upwards trendline is still holding. What is really interesting now is if that upper trendline (marked in gold) is going to hold this coming week. Changes Added trendline on RSI, Stoch and CCI Added VPVR Conclusion The RSI, Stoch and CCI are showing some signs that the momentum is not that strong, and in combinations with the stock market; I believe we will see a dip in the BTC/Euro price. The dip will retest 7038, and let us see what happens after that. when it comes to my own plans in these times, nothing changed from my previous posts, I have already liquidated some parts of my BTC holding in waiting for a dip, and I am patient. Probably will pick up some at 7038, but checking to see if it holds before entering. I have been writing about a second financial wave (downward wave) coming, and still believe it is coming and we are seeing the very beginning of it now. Since BTC has not yet been decided as a safe hedge, I do not know how BTC will perform during the second wave; but I believe BTC will rise after the second wave has washed over. PS For you guys that are going nuts about the behaviour of the stock market, and it is not really acting logically to what is happening in the market. Prices not reflecting the actual market, gold going down, companies that are hit hard by lock-down are still having increase in stock price, etc... There are three things I have noticed that I want to share with you great guys, and take it for what it is; just a theory! Traders selling good performing stocks to cover their losses . One of the cardinal rule in trading is to be in the market one way or another (can be in currencies or other assets). One way of doing that, other than bringing more fresh cash, is to sell assets that you have profit on to cover the losses you had. You never know when those performing assets go down, so it is important to take out profit when you can. This can result in safe harbour assets such as gold can drop in price, or hot bio-tech companies drop in price. Fund Managers are obliged to rebalance their portfolios to keep the asset allocation and exposure to risk correct to their fund profile . This is kinda related to the one on top, but fund managers sit on HUGE amount of value and when they start to rebalance their portfolios to cover losses or to keep true to their fund strategy, it can really affect the price in markets. What is fund strategy (asset allocation) to do in this? well, let us say that a fund has a strategy to be in 60% stocks and 40% bonds. If that fund have hit a golden goose and have great return on some stocks, it will have to rebalance in order to keep within 60-40 strategy of their total asset holding value. Stock market is based upon beliefs and feelings, and not logic. Also it is not reacted to the current time, but what they expect in future. The market is a place for feelings, and additional guessing what will happen in the near future or long term future. These estimation of the future will constantly be re-valued by the current news but will not necessary act on it the way it logically might seem to be doing. Monetary stimulus like new money being printed and thrown into the market like in US. The Fed buying up all it can, regardless if it is a fallen angel or what have you. This will give impression the market is holding, when in reality it is a facade. As always guys, stay safe and may the trading be with you!
by egilagre
1
My first: a bit down before we go up againThis is my first analysis. Please excuse me when I'm using wrong terms. I have observed the whole market quite some time and since the deep dip in March I'm investing some play money. Currently it looks like that we are testing either a bottom line which formed during the last days before we go up again (green drawing). Or if we break that its rather one level down, the bottom of the last month (red drawing). Only my two cents which can be 100% wrong. Nobody should listen to me.
Short
by J-J-