The market reached the whole number level 0.15000 and we could see a price reversal. A bearish divergence confirmed down movement to MA20 as a possible reversal level. But price broke this line and moved lower. Now we have a situation where price is below MA20 and there is a free space for falling. MACD confirms down movement and DMI also shows that we should not expect price reversal. We have to find possible entry levels for long trades. We'll be able to buy when correction movement is over and we see price reversal from target levels. Such levels are - 0.10000, MA50 and MA100, 0.06000 level. When price reaches one of these levels and we get a reversal signal, we'll have a long opportunity. Indicator will have to confirm that the market is going to move upward. Only after that we'll be able to open long trades with profit target at the resistance level.
P.S. If you think this information can be useful, please, like it and share. Also I will be glad to read your comments )
I have a question... Wouldn't it be better to evaluate price movement of a currency in pairing it with more static levels, for example EUR or USD? Because BTC itself is in my opinion not stable enough, so comparing one volatile currency to another volatile one could not show "reality". Or am I wrong? I am new in this )
erazemk
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@erazemk, Beacuse at the end, we also want to take profit in USD or EUR, and not in BTC..
JustJoe
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@erazemk, That was a great question about using USD market instead of BTC. I had the same opinion as you USD is more stable it just makes since but I could be wrong. DLavrov knows whats going on and I value his opinion.
erazemk
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@JustJoe, @DLavrov I agree and I am completely aware DLavrov has great knowledge about the CC markets. My point was that if we, for example, trade in ETH/BTC we could at some points see no changing in relative price, but at the same time, both currencies could be dropping in price, and we would be losing money. Thanks for comment!
DLavrov
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@erazemk, thanks for your comments! I just want to write one more thing - you should trade crypto markets, Forex, commodities and so on, in order to trade safely and get stable profit in long term. You should use several trading strategies for the same reason.
DLavrov
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@erazemk, I'm not sure that this idea is good. You must make your trading simple, and the most simple way is - use trading strategy and follow the signals. All my trading ideas are based on my trading strategies. And I work with exact market for getting trading signals. There are a great number of variants how to make stable profit in long term.
vickygautam
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ETH at support level .10000 now. Do you see trend reversal indicator?