Alts are tied to BTC and for now BTC will follow the Dow, why? Because the DJI is a direct reflection of the health of the economy. In a bad economy we can see that institutional money pulls out of crypto as well. If things continue to be this bad we will see the capitulation of some lesser-known Altcoins. Let me give you some perspective as to what has happened...
Looking at the daily chart you can see how price has melted over the last couple of weeks. On the daily chart, we are very close to having a death cross. So far within a period of 2 months, we've had a golden and death cross which is not common. This mostly tells you that BTC was on an upswing which forces a golden cross until an external event influenced its...
Last week we were taken out of the trade by our stop losses, on my last post we talked about that if BTC dipped down to $8500 it needed to dip down quickly and move back up quicker otherwise momentum would be lost, we even had an $8200 buy order. What went wrong? We did have a dip down but it was very slow and the recovery was very slow as well and unconvincing....
As the Dow dropped by 12.4% from Monday to Friday, BTC dropped by 24% during the same amount of time. Today the Dow showed signs of recovery so BTC is doing the same. Individual retail investors did not provoke the sell-off last week, institutional money did. We had a 74 Billion dollar drop in crypto between Monday and Friday, finding stabilization only after the...
There will never be another Bitcoin, but there will always be opportunities that can make you as much money as Bitcoin made early adopters. The trick is to be able to spot those opportunities and to take advantage of them, either in this asset class or when something new comes along. You'll like to think that if you bought BTC at $10 you'd be rich by now, the fact...
BTC has interacted with the support line non-stop for over a week now. The one thing worth noting is that it has refused to close under the line, today's candle will give us strong clues. What BTC is doing now looks a lot like what was happening from November to January before we started moving up (example 1.a). With support and resistance, you will test and...
The death cross had its effect and it was very short-lived. As of the 18th we have a golden cross that will have its positive effect on BTC's price, we have to look closely to see for how long. We do have a few indicators to track the strength and health of this effect. The goal with this golden cross will be to reach the 14k area which is where the next...
If you did not FOMO you are in great shape. Isn't it a great feeling when you let the trade come to you? We waited patiently until BTC came down to our buy point precisely (which was set a few weeks back.) You are now buying cheap and safe from those that bought as we were going up (due to bad advice), and from those that set old style trailing stop-losses. If you...
No question that there are solid good times ahead. Let's explore the charts and in different timeframes to find safe entry points, let's keep it short and informative. WHATS BTC DOING NOW We are currently going uphill with minor corrections along the way. We started loading up a few months back and got out once we hit resistance. We are looking to jump back in...
The way I see it every trade should be a straight-up business transaction devoid of emotion. If you want to build wealth you only take low-risk high reward bets. Look at every choice you make and take that approach. Make a bet only when you know the odds are in your favor. Trading is no different, approach it as a business, learn how to value capital, think of...
Most of you have entered trading with the wrong mentality but through the right door and so you will lose your money fast and without learning anything. You'll leave the trading world disappointed and minus your hard-earned cash without realizing that you were at the right place with the wrong mindset. Crypto offers what no other asset class does; you have the...
HOW TO COMBAT AND DEFEAT FOMO If you look at just candles on your chart and nothing else, everything looks random and that's how most people see price movement, but once you put the right indicators and the right trend lines on your chart, you'll see a pattern, you'll also see intent, meaning where BTC is leaning towards. In other words, without the right lines...
Timing is everything! When you enter a trade and when you close a trade determines your rate of success, with this in mind let's answer a common question: Can you make it as a day trader in Crypto? The answer is simple and unequivocal, NO! Why? You don't have that many options, the coins are very few and they all move in the same direction as BTC. Other than the...
After the last winning run, I showed you that support and resistance is a very simple concept that will make you money. We buy at an area where there is a lot of support and we sell as soon as we hit resistance, it works consistently and your number of winning trades will go up a lot. What is the key ingredient of this style of trading? Simple, patience and...
When this happens you have no choice but to pull the plug, it is pointless to keep going. It happened three days ago and the best thing to do in cases like this is to leave, pull-out, end it! So yes I am talking about me being 100% percent back in cash after we hit resistance. Just as I predicted the small pivot BTC made meant that it was gonna try to reach out...
We are extremely close to our $9100 goal, what made BTC go down after getting so close yesterday? Simple, weak hands and manipulation. Weak hands mean that a lot of traders sold before the goal, manipulation means that the exchanges then went stop loss hunting, which is why it is best not to set stop losses. Now, let's not lose our heads let's keep things in...
BTC is currently resting atop the 100 moving average on the 1-day chart, this moving average is going to start pressing Bitcoin for an answer in the next few days. As you can see the ceiling, for now, is the white resistance line. I am optimistic that BTC will jump above the resistance line, why? We have not lost the 100 as support for a few days, this means that...
Part of going up is going down, no asset ever goes up and continues going up. the current pullback is part of going up so long as it does not close too many times under support. We have now closed once under the 100MA, we have to return above it tonight or tomorrow night at the latest. For now, it seems to be running down the old resistance line now support, as...