CryptoTrading-101

CryptoTrading-101

Again followed the price more or less what we expected. A small bounce at around the 5 digit, 10.000 USD and down towards my pivot and long trend line (blue) near 9700. Like yesterday I said we would probably see a small chop around this area before a move down, currently we are waiting for this move to happen. On the higher timeframes it does look bearish and...

CryptoTrading-101

Like I wrote yesterday Bitcoin is still looking weak and it did more or less like I expected, chop between 10.300 - 10.770 before it tested and broke down under the 10.300 to test the 10.000 for a small bounce. I don’t see any real support before 9700 ish where it has a pivot line and will be hitting my long trendline (blue) from August 2017. I am expecting some...

CryptoTrading-101

If we look at the last few days BTC hit my 1st target zone and bounces back 11.000 USD ish, higher than I expected (10.000 ish) but are now looking like it wants to go lower again. At the moment it is again out of my ascending channel and looks like it has come in between to pivot lines, 10.770 as resistance and 10.300 as support. I am expecting it to sit a...

CryptoTrading-101

If we look at BTC on the daily it tried to move higher throughout the weekend where it is much easier to make moves up/down because of lack of volume, but it couldn’t maintain that higher level. It shows me that it isn’t strong enough, yet, or the mentality in the market just isn’t there. We made a long wick up on the 20th and pulled back after meeting resistance....

CryptoTrading-101

Bitcoin has moved into my channel once again and has found support around my trendline. I still see it as weak and expect it to break out of my channel again and break the support line. We will see what happens, but I still have my boxes around 8000 and 5000 in play.

CryptoTrading-101 Updated 

Bitcoin has looked strong intraday, moving towards and tested the 10.000 price a few times without success of breaking through. It has also respected the channel on my chart through out the day, but I think we are about the see a reversal for the day. Even though the price has moved on and given the impression of a strong mentality it really isn't and I expect it...

CryptoTrading-101 Updated 

- Sorry for the first post with a really bad view on my chart. BTC has not shown much strength lately and made a bearish engulfing pattern on the weekly, which is currently confirmed this week with a continuous down trend. The price is sitting around an old support from august 2018, but I don't expect it to hold and with a break it will probably only intense the...

CryptoTrading-101

BTC has not shown much strength lately and made a bearish engulfing pattern on the weekly, which is currently confirmed this week with a continuous down trend. The price is sitting around an old support from august 2018, but I don't expect it to hold and with a break it will probably only intense the downtrend. I see 2 outcomes atm shown on the chart Both of...