BITSTAMP:BTCUSD
Bitcoin's price has finally broke through the 7.5k mark after consolidating around the 7.2-7.4 levels, after the initial $600 jump a week ago.
We now take a look at the daily timeframe of the chart to try to predict where BTC will go next.
As you can see from the chart, the bulls have taken back control after the week of consolidation and...
With all the exciting news about Coinbase potential listing of the 5 new coins and the setting up of cryptocurrency custody service AND CBOE's filing for Bitcoin ETF with the SEC, fundamental has never looked so good for the mother coin amidst this bear market. We can also see investors gaining momentum and becoming slightly more bullish with the recovery of BTC's...
THE TRIGGER:
Ethereum has broken below the strong support at $450. It can now slide and move towards the next support level at ~$358.
Trading Set Up: Not trading the correction back up but looking to take short positions once the price recovers a little.
Obviously the 200EMA is showing an overall downtrend since the start of May so we look to only short to...
ACTION: LONG ETH/USD BINANCE:ETHUSD
ENTRY PRICE: ~530
STOP LOSS: ~459
TAKE PROFIT: 25% @ ~657 , 50% @727, 25% @Trail
RISK REWARD: ~2.5
Time frame: 4H candles
Duration: 1-2 months holding period
FUNDAMENTAL ANALYSIS
SEC official: Ethereum not a security (Bullish news: For Ethereum and the launch of ETH Futures)
THIS NEWS will definitely clear some concerns and...
Ripple and Stellar Price Correlation is 88.8%. (+)
Ripple and Stellar Returns Correlation is 49.86%. (+)
Wanted to check out if there is any mispricing to profit from by simply betting on the one that diverges.
However as we can see from the chart, there is no clear indication on who is the market leader (the one that determines the overall trend) and both...
