About meI have been trading for 12 years and now trade cryptocurrency full time. I am the host of the #1 crypto podcast the "Trader Cobb Crypto Show" and run an education company to teach my trading strategies. Visit www.tradercobb.com to find out more
Well that hedge on BCHUSD yesterday sure makes me feel a lot safer now. With trends starting to break to the down side we have a great chance for some good short trades. Having a hedge is a great feeling in today's market.
There are plenty of factors from my checklist lining up here for a potential short on BCHUSD. We are in the cradle zone on many time frames and have some Fibonacci lining up as well. I love a hedge on BCHUSD because if BTC falls BCH falls even harder therefore making it the perfect hedge play in my book. Still a while to wait but guys check your strategy check...
The lack of conviction from either buyers or sellers continues on bitcoin for another session. Being that we are still in an up trend my views remain bullish and they will do until a lower low is set. For the time being it's time to sit back on bitcoin and trade the BTC ALT pairings that are trending well
With Bitcoin having moved so far from the cradle zone (10 & 20 MA) on the monthly it is nothing unusual to see it pull back as far as it has. I would like to see bitcoin hold here and move higher from where we currently sit but the reality is that $6000 is still very much on the cards. Time to be a watcher not a trader until Feb 6th has passed.
In what is a very strong looking up trend there now needs to be a little bit of buying pressure taken off in the form of a selloff to $4500/4400. I would love to see another small green candle in this zone for another entry to this great up trend.
Slow and stead has bitcoin been the last few days since my call of ATH's before months end. It has steadily moved to where it is now and I believe it looks ready to have a good few days ahead to the bulls.
If we see today break the high of yesterday's green candle that will be a continuation of the up trend. It will be acting as a glory up trend and in perfect harmony. If we break up and set new trend highs in the next day or 2 we will break $5000 before months end.
A break to the high side of yesterday's bullish, green candle would in my view be the resumption of the up trend and likely see it step to a new higher high in that trend. Entry as it breaks the high of yesterday's green candle and stop below the low. Not advise just my view