davistradingforex

Swing Scalping Bitcoin

BITFINEX:BTCUSD   Bitcoin
Tracking Bitcoin over the past week has shown me how amazing this market is for scalping and short term swings. The price action is volatile both short and long creating wonderful 1-2 day swings and 2-5hr scalps. I am noticing fractal harmonics and structure breaks being the most common patterns and most profitable methods to use when trading this market. The massive volatility makes the use of indicators very hard, they dont seem to hold up as they do on other markets such as Forex and stocks. The price action seems to be a structure base algo money maker that is working on 5hr volume pumps and fractal harmonics. Without the session breaks and working hour constraints of Forex and stocks, Bitcion price action is very consistent and flows beautifully. I am fascinated by how wedges and harmonics guide this market direction. By the book price action patterns seem to be the technical short term drivers as apposed to fundamentals and news. This lends great to scalping and swing trading systems and active manual technical analysts. I think as this market grows and more brokers allow leveraged trading, we will see a boom in day trading and an influx of professional traders making the shift from their current markets. It is still a baby market creating its natural flow and it is a pleasure tracking the fractal ripples as is makes its waves on the world. As it forms its true nature I will be watching it develop with an optimistic understanding not a close minded fear. Bitcoin may not be the final crypto currency that will reign, but it will be the flagship leveraged traded market and will continue into the future as the gold standard of bockchain technology. If you plan to start scalping bitcoin beware of the major volatility and risk involved, all opinions shared are my personal view and in no way am i telling anyone they should enter such a high risk environment. Please trade with caution and care.

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