GOBTC trade ideas
GO ready to fly? Indicators looking positiveGO has finally reached previous ATL and is sitting on it as support. It has been rejected below this support 4 times on the daily chart. Price action is just now starting to work its way up and has touched the 200 MA on the 4hr chart. IMHO, once the 50 EMA crosses the 200 MA we're going to see the uptrend. Targets are on the fib retracement indicator. This is not financial advice...DYOR. Good luck!
GOBTC getting ready for upward movementHi there.
GOchain is currently testing out the support level.
This support level has been a strong one which held GO up from around August to September.
Right now on the 4H timeframe GO seems to be in an uptrend.
Currently it is on the bottom of the Bollinger Bands with an RSI at around 43.
GO recently tested this support zone twice on November 25th and 27th.
After testing it on the 27th GO went up 24% in 2 days testing the second target at 940 sats.
You can wait a few more hours to get more certain signs of the support level holding up. GO is not showing any signs of big panic which could lead to support breaking, but instead is following BTC movement which is in an upward trend (correction for recent dump).
This can be traded by buying between 770 to 835 sats.
Target 1: 885
Target 2: 940
Target 3: 1040
Stop Loss: 745 sats.
Gochain shows strength on the background of the Bitcoin drop.This Wednesday was a total catastrophe for the cryptocurrency market. Bitcoin dropped to $5500 and reached a new minimum in 2018. However, there is always an exception from the rule. In this case, GoChain is that exception. Its rate increased within 1 month from around 600 satoshi to more than 1000. Let's take a look at the bar chart. It is seen that support zone is at the level of 800 satoshi, while resistance is at 1200. One can also see a trend line from October 13, and supposedly the price will come back to the resistance level till the end of the month. On the other hand, team of the project also pays great attention to it. Few days ago they shared the newest public protocol release: go_chain , an Ethereum-compatible, decentralized blockchain that supports deployment of DApps and smart contracts. In addition, the platform partnered with Blockdaemon, Offering Deployable Nodes in Three Clicks.
Signals from Crypto-Sticks TRIX STIX - caught the GOBTC Pump!Another entry for you all in the public library Crypto-Sticks series. More STILL to come! What I particularly love is these indicators give you an added 3rd dimension to viewing them otherwise. You can see how much fluctuation occurred, get better divergence signals, find higher/lower extremes, and use in combination for secondary confirmation!
Here's an example of how to use the Crypto-Sticks TRIX for trading signals. I also plotted this range's signals the indicator would've generated. TRIX is a slightly lagging indicator meaning it catches trends better than it catches absolute bottoms and tops. So using something like Bottom Top Finder can help you pinpoint an even better entry and exit.
Please remember that you will potentially have to adjust the TRIX overbought and oversold levels to suit the volatility of the instrument you are working with. In the future I will implement a feature that does this automatically, but for now its manual.
The OB/OS zones are given in two levels, because often you can find a line of best fit that will hit "small movements" and one that will hit "big movements."
Heiken Ashi (default setting) candles adds some more clear trend changing points which can be executed at the second candle going in either direction. Other coins/charts will require their own strategy - you could potentially have to tweak that parameter. In this example you would enter on 2nd green, exit on 2nd red.
Volume weighting the HA candles adds a different dimension to the indicator which I have to explore more fully. Please note on this indicator i believe it provides no additional value, but I left it is as An example of VW+HA:
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