This is a 30 minute chart for illustration purposes. I've been referring to 4 hr and 1 day charts until now. BTC just bounced at the intersection of the descending wedge and the lower line of the larger price triangle as I had outlined in the last email This is a very hopeful sign for an end to the current down leg. Looks like the shorts lost their shorts in...
Executive summary If you are an investor, you should hold your positions and wait this out. If you're a trader, it's too soon to make a decision. And if you are a short seller, you may be about to lose your shorts. My spread trading strategy covered in the last few BTC charts is still yielding profitable trades and is enough to blunt much of the daily percent...
For the last two days the price action trading on Bitcoin has been unexciting. Bitcoin has tended to swing up and down within a relatively short range. Which happens to be good for the spread strategy that I have been sharing with you the last few days. These slow markets can be somewhat boring and even confusing until you look at them in several different time...
Dash has taken a beating since the market went into decline. Dash is one of my favorites, and I've owned some Dash since it was $2. Frankly I wish I had held onto all I had back then, but you take profits and you make other trades as well. Dash is very solid coin with top notch technology, a stellar management and coding team and a realistic business plan. I...
As I write this at 21:00 UTC, Bitcoin is attempting to move above the 9583 line on my previous chart which used to be the lower boundary of a trading range. For the last 11 hours BTC has been working it's way up. When I last wrote, I mentioned that BTC had gone so low so as to put us in an area where the Fiboinacci numbers would no longer be in play. ...
Since my Educational/Trading update post of yesterday prices have continued to deteriorate. The Good: My strategy for using spreads has continued to be profitable on the down trend which is decreasing paper losses by adding profits from the trades. It continues to be a reasonable trade in the current environment. Not only have I profited USD in the...
To setup a spread, you begin with the current market price (our base price), then after TA (technical analysis) you determine what I call "the likely near term trading range". See the range within the yellow bars as an example of what I chose on March 5th. I used Fibonacci lines and past support and resistance levels to decide the range as seen on the...
Update from my previous idea on BTC from March 2. So far my spread BTC order strategy has paid off well. I've had an _ROI of 6.1% on BTC trades since March 2. In the last few hours I would not have been able to keep up with the pace of this move without the help of a bot to fully implement my strategy. However even if the strategy were placed manually it would...
Verge (XVG) is one of my favorite Alt Coins. It's a solid coin that is in real world use cases today. It has an active marketing team, a roadmap, and a solid development team. It is one of cheapest coins in the top 30 market cap. After the correction it's currently about 80% off of it's all time high. It's relevant to the crypto-world, and XVG is focused...
It appears that Lumen XLM is about to break out and move higher. I've set a target of $0.77 for mid to late April. This relies a bit on BTC price action to support the overall altcoin market as well. The price action is shown in the triangle formation to be squeezed into a narrow band of selling with declining volume. The chart would indicate that this selling...
While I believe that BTC is in a continuation of the Bull Market and new all time highs are in the not too distant future, the current situation is less clear. Looking at the chart you will see an overall plot of BTC prices since the last all time high through the correction which reached a low of 68% from the high on Feb 6th you will see one failed attempt at a...