Tag: Trading

Sell Out. Bitcoin Trading Points (5)

Sell: now or up to $380.                    Take Profit: 350; 335; 315
Buy:380                     SL: 375                       TP: 385; 390

 
The BTC/USD price downtrend was confirmed last week with the Thursday daily candle sell signal after several days of consolidation. And although the Friday’s candle formed a doji suggesting some buying pull-back, this scenario looks off the table currently as the price keeps pushing down.

 

A nice downtrend channel has formed there with some minor support/resistance in the middle (now somewhere around $350). If broken we can see a brief spike to $310 very soon.

 

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Trading fiat scamcoins?
Strong: Usd, Cad
Weak: Jpy, Eur

 

Indices
DAX: choppy zone, somewhat bullish
DJ: bullish

A Bigger Picture-Between The Two Stones. Bitcoin Trading (4)

Buy: 407.34 (Bitfinex)              Stop-loss: 402                  Profit Take: 412; 417; 424;

Sell: 396                                              SL: 401                               PT: 372; 355; 335

 

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Trading fiat scamcoins?
Somewhat strong: Usd, Gbp, Aud
Weakest: Eur, Jpy
So you want to sell Eur/Usd, Eur/Aud and buy Gbp/Jpy, Usd/Jpy, maybe Aud/Jpy

Indices:
DAX looks a bit bullish right now, but in the choppy zone up to 10000.
DJ also somewhat bullish.

The Bear Fest Is Not Over Yet. Bitcoin Trading Points (3)

Sell: 378.75                     Stop-loss: 383.75                      Profit Take: 358; 348; 338

Buy: 393.32                              SL: 388.32                                   PT: 403; 413

 

If you asked me what to trade other than BTC here would be my forex and indices picks for the week:
Generally long the yen (maybe the euro), especially against the British pound, Canadian, Australian dollar. Short Dow Jones, DAX. (Do not blindly place trades in the directions given above. Use your own trading strategy and look at taking setups that occur in the same direction).

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Bitcoin Price At 2013 High. Weekly Trades (2)

Happy and profitable new year folks and let’s get straight back to work! The USD remains strong across the board and the BTC/USD pair is not an exception. The USD index can attack 100 very easily, probably 110 and 115 maybe.

Unless this resistance level is reached followed by appropriate price action (meaning clear selling) I have no reason to be bullish on BTC or any other asset traded against the dollar. And that could occur in a weeks, months… Of course until some sudden event happens that could send the mother of all fiat currencies back down to trash where it belongs.

The price has reached the $260 support zone (former resistance and maximum high of April 2013. Wow, do you remember those days? Only some 20 months ago and it does sound like a looong history) that can be broken fairly easily.

Down there lies stronger resistance at about $160 that should successfuly face of any selling attack at least on a longterm timeframe charts. But if the USD index breaks above 120 only bitcoin god knows what will happen then…

Sell:  264      Stop-loss: 290    Profit Take: 254; 234; 224
Buy: 291            SL: 276                PT: 300; 310

Cheaper Bitcoins Ahead? Weekly Trades (14)

No matter how much you wish the price of bitcoin to appreciate as a trader you have to respect the market. And Mr. Market is in selling mode right now. How much can bitcoin fall?

It looks like very important support zone of $380-400 could be reached within a few couple of hours. If this level capitulates, the bulls will be in a real trouble and much cheaper bitcoins lie ahead of us.

Sell: now or below 435    Stop-loss: 470     Take Profit: 405; 385; 340
Buy: 535                                  SL: 500            Take Profit: 580