Market Scenario and Potential Buying OpportunitiesAnalysis of Key Support Levels and Candlestick Pattern Confirmation
The financial markets are often characterised by their volatility and the constant ebb and flow of prices. In this intricate dance, key support levels play a pivotal role in determining the direction of market movements. This aims to provide an in-depth analysis of the current market scenario, focusing on two significant support levels, $2,378.36 and $2,327.67, and the potential buying opportunities that arise should the market break and close below these levels. Additionally, the importance of candlestick pattern confirmation at the $2,035.97 level for a Bullish Deep Crab Pattern setup will be emphasised.
Understanding Support Levels
Support levels are price points on a chart where a security tends to find buying interest as it falls. These levels often act as a floor by preventing the price from being pushed downward. Identifying such levels is crucial for traders, as they help in making informed decisions about entry and exit points in the market.
In the current market scenario, the two significant support levels to watch are $2,378.36 and $2,327.67. These levels have historically shown strong buying interest and have acted as a base for price rebounds. However, should the market break and close below these critical levels, it signals a potential shift in market sentiment.
Significance of the $2,378.36 Support Level
The $2,378.36 level has been a key area of support in the recent trading history. A break below this level would suggest a weakening of the bullish sentiment, prompting traders to reassess their positions. It is essential to observe the market behaviour around this level closely.
Importance of the $2,327.67 Support Level
The $2,327.67 support level is another crucial price point. Historically, this level has provided a strong base for price recoveries.
A break below this level would likely indicate a further decline in market confidence, leading to increased selling pressure.
Waiting for Candlestick Pattern Confirmation
In the event that the market breaks and closes below the two significant support levels, attention should then be directed to the $2,035.97 level.
At this juncture, it is crucial to wait for a candlestick pattern confirmation.
Candlestick patterns are graphical representations of price movements for a given period.
They are widely used by traders to predict future price movements based on past patterns. In this scenario, a candlestick pattern confirmation is required to validate a potential buying opportunity.
Potential Buying Opportunities at $2,035.97
The $2,035.97 level is significant for the Bullish Deep Crab Pattern setup. This advanced harmonic pattern is known for its precision in predicting price reversals. The Bullish Deep Crab Pattern consists of four distinct price movements that create a specific geometric pattern, indicating a potential reversal point.
For a reliable trade entry, it is essential to wait for a candlestick pattern to confirm the validity of this setup. This confirmation ensures that the market is indeed reversing and increases the probability of a successful trade.
The Bullish Deep Crab Pattern
The Bullish Deep Crab Pattern is a harmonic pattern identified by its precise Fibonacci ratios. The structure of the pattern includes:
Confirmation Candlestick Patterns
Several candlestick patterns can serve as confirmation for the Bullish Deep Crab Pattern.
These patterns provide visual cues to traders, signalling a potential shift in market sentiment. Waiting for these confirmations ensures that traders enter the market with a higher degree of confidence.
Conclusion
In summary, the market's behaviour around the significant support levels of $2,378.36 and $2,327.67 is crucial for determining future price movements. Should the market break and close below these levels, the $2,035.97 level becomes the focal point for potential buying opportunities. However, waiting for a candlestick pattern confirmation is essential to validate the Bullish Deep Crab Pattern setup.
By adhering to these technical analysis principles, traders can make informed decisions, minimizing risk and maximizing potential returns. The importance of patience and confirmation cannot be overstated in achieving successful trading outcomes in a volatile market environment.
Countertrend
ASX to new highs, or fakeout in the making?The ASX 200 futures chart reached a record high on Wednesday, and momentarily traded above 8400. Yet repeatedly we see the market hold above this level (also note the weekly R3 pivot is within the area).
A bearish divergence is forming on the 1-hour chart, so the bias is for a false break of the highs and retracement lower ahead of its next sustained record high.
Bears could seek a move towards the 20-hour or 50-hour EMA, or bulls could wait for such a level to be respected as support before rejoining the bullish trend.
*Take note that AU employment data is released in just over 1hr*
MS
GBP/USD Bearish weakening, potential buys from 1.30500This week looks promising for my type of setups, with both sell and buy opportunities presenting decent prospects. I’ll be waiting for high-quality lower time frame confirmations before taking any trades. Depending on which point of interest (POI) gets hit, I’ll adjust, but ideally, I’m looking to sell from the supply zone down toward the demand zone.
Once price reaches the 15-hour demand zone, I’ll shift to looking for buy opportunities, targeting the imbalances above and the untouched Asian session highs. Although the overall trend is bearish and sells look favorable, I plan to wait for a mitigation of the higher supply zones around 1.32500 before committing to any shorts.
Confluences for GU Buys:
- The refined 15-hour demand zone has caused a CHOCH to the upside.
- There are significant imbalances and liquidity above that need to be filled.
- For price to retrace to the supply zone, it must first move upward.
- The US Dollar Index (DXY) is sitting in a strong supply zone, which could trigger a drop in the dollar, supporting bullish momentum for GU.
Note: If the buy scenario doesn’t play out as planned, I’ll wait for a strong supply zone to sell from and continue the bearish trend. However, given that price is already in a higher time frame demand zone, I wouldn’t be surprised to see an upward push as early as Monday.
Live Trading Recap: USD/JPY Correction Phase TradeThis is a live execution of USD/JPY trade, demonstrating how to successfully execute a counter-trend strategy. This trade was all about understanding the market phases and recognizing the trend reversal at the right moment.
To pull off a counter-trend trade, you need more than just technical skills—you need a solid grasp of trading psychology. Staying patient, trusting your analysis, and managing emotions during market swings are key to making informed decisions.
Watch the video to see how I combined these elements to turn this trade into a win. Let me know your thoughts in the comments!
Bullish Butterfly Pattern Checkback on EURJPYHere’s an interesting setup for all you counter-trend traders out there. A Bullish Butterfly Pattern checkback could provide a solid buying opportunity. Let’s break it down.
Current Overview:
- Bullish Butterfly Pattern: This pattern is setting up a potential buying opportunity for those looking to trade against the trend.
Strategy:
Entry: Look to enter a long position as the market completes the Bullish Butterfly Pattern.
First Resistance Level:
Trendline Break: The first level of resistance will be at the Red Trendline on the chart.
Partial Profit: When the market touches this trendline, consider taking partial profits.
Stop-Loss Adjustment: Shift your existing stop-loss to the entry price at this point, creating a risk-free trade.
Final Thoughts:
This setup offers a clear strategy for managing risk while capitalizing on a potential counter-trend move. Remember, trading is all about planning and managing your risk effectively.
Are you considering this trade? What’s your approach to counter-trend trading? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
11 Money-Making Opportunities and the A.P.E FrameworkI’ve just recorded a video covering 11 Money Making Opportunities that you won’t want to miss. Here’s a quick rundown of the currency pairs discussed:
- GBPUSD
- USDJPY
- EURJPY
- GBPJPY
- NZDJPY
- NZDUSD
- AUDUSD
- AUDCAD
- USDCAD
- CADJPY
- GBPAUD
What’s Inside:
- A.P.E Framework: I’ve also shared how I use our trading framework, the A.P.E Framework, and why it’s so important in guiding my trades.
- Strategic Insight: These trading ideas are meant to get you thinking critically about your trades. Remember, they’re not meant for you to follow blindly.
Key Takeaway:
- Plan Your Own Trades: Use these ideas as a devil’s advocate to challenge your strategies and prevent you from going too aggressive on your trades.
Make sure to watch the video for in-depth analysis and insights!
What’s your take on these opportunities? Have any of these pairs caught your eye? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
Second Chance Shorting Opportunity on EURUSDIf you’re looking for a second chance to short EURUSD, there’s a promising setup involving a Type 2 Bearish Shark Pattern with RSI Divergence. Let’s break it down.
Current Overview:
- Type 2 Bearish Shark Pattern:
- What It Means: The first target has already been achieved. This provides clarity on the first target but might reduce participation since the initial group of traders who profited may not re-engage.
- RSI Divergence:
- Signal: This divergence adds another layer of confirmation, especially for traders who rely on resistance and RSI divergence as their entry signals.
Strategy:
- Second Chance Entry: This setup offers a second opportunity to short EURUSD, with the RSI divergence potentially attracting a new wave of traders.
- Profit Factor: The strong profit factor in this trade is what drew me in, despite the potential for reduced participation from the initial group of sellers.
Final Thoughts:
While there might be fewer sellers this time around, the RSI divergence could bring in new participants, making this a solid second chance trade. Always keep an eye on your signals and manage your risk effectively.
What’s your take on this setup? Are you planning to jump in, or do you see other opportunities? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
Second Attempt at Shorting NZDUSDI’m back at it with a second attempt to short NZDUSD, and here’s why this setup caught my attention.
Current Overview:
- 4-Hourly Chart:
i) Rising Channel: The pair is moving within a rising channel.
ii) RSI Divergence: This divergence signals a potential weakening of the uptrend, which adds confidence to the short setup.
Shorting Opportunity:
- 1-Hourly Chart:
i) Type 2 Bearish Shark Pattern: This pattern gave me a solid entry at 0.6029.
Strategy:
- 1st Target:
i) Extended to: 0.5992
ii) Why: The market reversed beyond the original 1st target, allowing me to extend it for better profit potential.
- 2nd Target: Keeping it open to adjust based on how the market moves.
Final Thoughts:
This setup combines a classic RSI divergence with a well-defined Bearish Shark Pattern, making it a compelling opportunity for a second short attempt. If you’re considering a similar trade, keep an eye on the targets and be ready to adapt as the market unfolds.
What’s your take on this setup? Have you noticed similar patterns in your trading? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
USDJPY Opportunities for Both Bears and BullsHere’s an exciting update on USDJPY, which has something for both short-sellers and those looking to buy. Let’s dive in!
Current Overview:
- 4-Hourly Chart:
- There’s a sell zone, but the overall movement of USDJPY is on a bullish ride. :chart_with_upwards_trend:
Shorting Opportunity:
- Key Level: 157.69
- What to Do: If you’re looking to short, watch for a Magic Candle Confirmation within the sell zone (red box). The ideal entry would be at 157.69.
Buying Opportunity:
- Key Pattern: Potential Head and Shoulders Formation
- Key Level: 157.69
- What to Do: Like me, if you’re waiting to buy, this is the level to watch. Wait for a Magic Candle Confirmation at 157.69 to enter a long position, betting on a Potential Head and Shoulders Formation.
Final Thoughts:
Whether you’re looking to short or buy, the key is patience and waiting for confirmation. Trading is all about making informed decisions and managing risk effectively.
What’s your plan for USDJPY? Are you in the short camp or the long camp? Share your thoughts and strategies below!
Happy trading, everyone!
Classic Support and Resistance with Harmonic Pattern on USDCADUSDCAD has a classic support and resistance line on the 1-hourly chart. Here are two approaches depending on your trading style.
Classic Support and Resistance Levels:
Shorting Opportunity:
- Resistance Level: 1.3691
- Strategy: Look for a shorting opportunity at this resistance level.
- Stop-Loss: Place a stop-loss just above the resistance.
- Target: Aim for the support level at 1.3641 or below.
Buying Opportunity:
- Support Level: 1.3641
- Strategy: Look for a buying opportunity at this support level.
- Stop-Loss: Place a stop-loss just below the support.
- Target: Aim for the resistance level at 1.3691 or higher.
Harmonic Pattern:
- Bullish Shark Pattern:
- Completion Price: 1.3637
- Strategy: Wait for the Bullish Shark Pattern to complete at 1.3637.
- Magic Candle Pattern Confirmation: Look for a Magic Candle Pattern confirmation to enter a buying position.
- Stop-Loss: Place a stop-loss just below the Bullish Shark completion level.
- Target: Aim for higher resistance levels based on the pattern projection.
Key Points:
- Classic S&R Levels: Simple and effective strategy using clear support and resistance levels.
- Harmonic Pattern: Adds an additional layer of confirmation for more precise entries.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
- Confirmation: Always wait for confirmation signals before entering trades.
Whether you prefer classic support and resistance or harmonic patterns, these setups provide clear entry and exit points. What’s your take on USDCAD? Do you have other strategies that work for you? Share your thoughts and strategies below!
Trading Idea: Counter-Trend Trading Opportunities on EURUSDEURUSD has an overall bearish trend. At this point, many counter-trend traders, including myself, are looking for counter-trend trading opportunities. We've had some luck in this regard.
Analysis:
Daily Chart:
- Bullish Shark Pattern: Confirmation is formed, suggesting potential for a counter-trend move.
4-Hourly Chart:
- Falling Wedge Trading Setup: Provides a setup to go long and take advantage of the bullish pattern on the daily chart.
Strategy:
- Bullish Shark Pattern: Use this confirmation on the daily chart to inform your decision.
- 4-Hourly Chart Long Entry: Look for entry points based on the Falling Wedge setup.
- Entry: On breakout above the wedge.
- Stop-Loss: Below the recent swing low within the wedge.
- Target: Aim for key resistance levels that align with the daily chart's bullish shark pattern projections.
Key Points:
- Counter-Trend Trading: Recognize the overall bearish trend but exploit the temporary bullish setup.
- Pattern Confirmation: Use pattern confirmations on higher timeframes to guide entries on lower timeframes.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
What’s your take on EURUSD? Do you see any additional opportunities or setups? Share your thoughts and strategies below!
Bearish Deep Gartley Pattern w BOJ DecisionFor those who favor counter-trend trades or believe in a potential BOJ intervention, the Bearish Deep Gartley Pattern on the 1-hourly chart is worth your attention.
1-Hourly Chart:
- Key Level: This pattern provides an excellent risk-reward ratio for shorting opportunities.
Reminder:
- Don’t overtrade.
- Always conduct your own analysis and avoid blindly following others.
What's your trade plan for USDJPY? Comment down below and share your insights!
Happy trading!
AUDCAD Analysis: Focus on Bullish Shark PatternIf you're looking at AUDCAD, the 4-hourly chart setup might seem tempting for a buying opportunity. However, I prefer the 1-hourly chart, specifically the Bullish Shark Pattern.
1-Hourly Chart:
- Key Level : Ensure an MCC appears at 0.9041 before entering a buying opportunity.
What's your trade plan for AUDCAD? Comment down below and share your thoughts!
Happy trading!
USDJPY Analysis: Opportunities for Shorting EnthusiastsUSDJPY is still pretty bullish, but for those looking to short, here's what I'm watching:
Daily Chart:
- Signal : Retest of the broken trendline
- Entry : Wait for MCC
1-Hourly Chart :
- Bearish Deep Gartley Pattern at 157.33
- Conservative Entry : Wait for MCC, preferably a retest on the PRZ (Potential Reversal Zone) with RSI Divergence
What's your trade plan for USDJPY? Comment down below and share your thoughts!
Happy trading!
The art of trading in favor of the TrendWe have a clear bias of a psychological nature that basically consists of going against everything that experiences a movement in favor.
When a trend is established, it always tends to last longer than we expect:
_ It’s going to turn around now!, it’s going to turn around now! but it never does.
All that time you’re waiting for a market to turn is precious time you’re losing to go in favor. You’re missing multiple opportunities by waiting for just one, the turn.
And what’s worse, you’re probably even entering the market against it, with its consequent “bites” to your account.
When there is an established trend, the best thing you can do is wait for a retracement of it to enter in its favor.
Therefore:
- Every time there is a trend, for example bullish, if you go against it at every resistance you find, you are trading counter-trend.
- Likewise, if you go against it at every support, in a bearish trend, you are trading counter-trend.
Many times prices stop at supports and resistances, and you may get a “pinch” but by doing so you are not trading in the correct way but as the market wants you to do.
Countertrend Impulse StrategyCountertrend Impulse Strategy
Countertrend trading is a well-respected way to trade. Combining it with the predictive power of impulse movements can help traders act on market reversals. This article delves into the components and practical application of this strategy, providing insights for any trader looking to enhance their trading skills.
Understanding Countertrend Trading
In trading, a trend represents the general direction in which a market or asset is moving. Trends are either upward, downward, or sideways. Countertrend trading, on the other hand, involves taking positions that are opposite to the prevailing trend.
Recognising countertrends is vital, as they provide new opportunities in the market. Traders look for signals that a trend might be losing momentum, such as weakening volume or specific candlestick patterns. They then seek opportunities to profit from the anticipated reversal.
Basic techniques to identify countertrends include using tools like moving averages, Relative Strength Index (RSI), and trendlines. By understanding and identifying countertrends, traders can position themselves to capitalise on potential market shifts, making it a fundamental aspect of various trading strategies.
Impulse Strategies: An Overview
An impulse strategy focuses on identifying and trading based on momentum changes within the market. An impulse in the market is a sudden and strong move in a particular direction, often triggered by news or fundamental events.
The key elements of impulse strategies include identifying a sudden movement, analysing its underlying cause, and predicting how it might impact future price action. Traders often look for candlestick patterns, like engulfing candles, and momentum indicators, such as the Moving Average Convergence Divergence (MACD), to gauge these impulses.
Integrating countertrend trading with an impulse strategy offers a method to identify when a reversal has weight behind it. It builds upon the foundational principles of recognising countertrends by adding a focus on sudden and significant market moves. This combination allows traders to recognise both gradual shifts and sudden changes in market direction.
Impulse-Based Countertrend Trading Strategy
This strategy involves a nuanced approach that combines the principles of countertrend trading with the detection of market impulses. Here's how it can be applied practically.
To try your hand at applying this setup for yourself, head over to FXOpen’s free TickTrader platform. There, you’ll find all of the trading tools and indicators you need to countertrend trade.
Identifying Overbought/Oversold Areas Using RSI: Traders use the Relative Strength Index (RSI) to determine when an asset is overbought (above 70) or oversold (below 30). If there's a divergence between the RSI and price, it adds further confluence, although it's not a necessary condition.
Looking for Specific RSI and Candle Patterns: The strategy becomes actionable when the RSI moves back above 30 or below 70, coupled with an engulfing candle that is noticeably larger than the previous few candles. This pattern indicates a strong impulse against the prevailing trend.
Setting Stop Losses: A stop loss is placed above or below a nearby swing point, usually just before the impulse. This protects the position if the anticipated reversal doesn't materialise.
Taking Profits at Support and Resistance Levels: Profits are taken at nearby support and resistance levels. Traders often aim to gradually scale out of their position, allowing flexibility in response to market movements.
Risks and Benefits of Countertrend Trading
Countertrend trading can offer opportunities for profit, but it's important to understand both the risks and benefits involved in this approach:
Benefits
Opportunity in Reversals: Identifying and trading reversals can yield profits in otherwise overlooked market situations.
Diversification: Adding countertrend strategies to your arsenal may offer diversification benefits.
Risks
Potential for False Signals: Countertrend trading might identify a reversal that does not materialise, leading to losses.
Challenging Timing: Accurate timing of the market reversal requires skill and experience, and errors can be costly.
Increased Volatility Exposure: This strategy might expose traders to increased volatility, making risk management vital.
The Bottom Line
In essence, combining countertrend trading with impulsive movements in the market can be an effective strategy. While it goes contrary to the typical advice of “the trend is your friend,” with the right setup, it can offer a way to capitalise on unique market opportunities.
For anyone interested in employing these strategies, opening an FXOpen account can be a good first step toward putting these techniques into practice. You’ll gain access to a wide range of markets to deploy your skills and benefit from competitive trading costs and rapid execution speeds. Good luck!
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
A Classic Support & Resistance TradeI'd engaged in a classic Support and resistance trade with 1 single target and observed candlestick movement on a key turning point.
Shorted AUDCAD at 0.8845 and my Initial Stop-Loss is at 0.8864(-19pips)(~190usd/lot).
Once the market hit 0.8829, I would shift stop to entry(SLE), attaining a risk-free trade.
In between I do nothing!
USDCAD Analysis: Shorting Opportunity with Head and Shoulders Se- Trade Strategy: Head and Shoulders Trading
- Key Levels: Retest of Right Shoulder at 1.3778
- Profit Potential: Initial target of 50 pips, with potential for further downside
Analysis:
- Trade Strategy: Shorting Opportunity with Head and Shoulders Setup
- Key Levels: Looking for a retest of the right shoulder at 1.3778 or neckline
- Profit Potential: Initial target of 50 pips, with potential for greater downside movement
Trade Plan:
- Shorting Opportunity: Consider shorting upon retest of the right shoulder at 1.3778 or neckline
- Profit Target: Initial target set at 50 pips, with potential for further downside movement
- Risk Management: Implement effective risk management techniques to mitigate potential losses
Insights:
The USDCAD presents a compelling shorting opportunity with the formation of a Head and Shoulders pattern on the 4-hourly chart. While the initial target offers a modest profit potential of 50 pips, the broader setup indicates the potential for further downside movement. Exercise caution and closely monitor price action for confirmation of the trading setup.
📉 Seize the shorting opportunity presented by the USDCAD's Head and Shoulders pattern, with potential for significant downside movement beyond the initial target!
EURUSD Analysis: Support & Resistance TradingKey Levels (1-hourly chart):
- Resistance: 1.0669
- Support: 1.0630
Additional Setup (4-hourly chart): Bullish Deep Crab & ABCD Patterns at 1.0522
Analysis:
- Approach: Identifies potential shorting and buying opportunities based on support & resistance levels
- Key Levels: Highlights resistance at 1.0669 and support at 1.0630 on the 1-hourly chart
- Alternative Setup: Considers a more favorable buying opportunity at the convergence of Bullish Deep Crab & ABCD patterns at 1.0522 on the 4-hourly chart
Trade Plan:
- Shorting Opportunity (1-hourly chart): Consider shorting at 1.0669 or buying at 1.0630
- Preferred Buying Opportunity (4-hourly chart): Look for a convergence of Bullish Deep Crab & ABCD patterns at 1.0522
- Risk Management: Implement effective risk management techniques to protect trades
Insights:
EURUSD presents trading opportunities at key support and resistance levels on the 1-hourly chart. Additionally, a more compelling buying opportunity may arise at the convergence of Bullish Deep Crab & ABCD patterns on the 4-hourly chart. Ensure prudent risk management practices are in place to manage potential market volatility.
📉📈 Exercise caution and prioritize risk management when trading EURUSD based on support & resistance levels!
AUDUSD Analysis: Bullish Shark Pattern- Trade Strategy: Bullish Shark Pattern
- Key Level: 0.6454 (Retest Level)
- Challenge: Strong Bearish Movement
Analysis:
- Importance: Highlights the difficulty of trading a Bullish Shark Pattern amid strong bearish pressure
- Technical Analysis: Identifies a Bullish Shark Pattern on the AUDUSD chart
- Challenge: Requires a 3-bar reversal and candlestick confirmation for a viable buying opportunity
Trade Plan:
- Entry: Consider a conservative entry at the retest level of 0.6454
- Confirmation: Wait for a 3-bar reversal and candlestick pattern confirmation before entering
- Risk Management: Implement effective risk management techniques to protect against potential losses
Insights:
Trading the Bullish Shark Pattern on AUDUSD requires caution due to the strong bearish movement. Conservative traders should wait for confirmation signals before entering the market, prioritizing risk management to mitigate potential losses.
📈🦈 Exercise patience and diligence when trading the Bullish Shark Pattern on AUDUSD!
Bitcoin Analysis: Potential Resistance AheadOverview:
Bitcoin (BTC/USD) is approaching a key resistance level at $72,295, which could impact its near-term price action. Here's a breakdown of the current analysis and potential trading opportunities.
Technical Analysis:
- Resistance Level: Bitcoin is approaching a significant resistance level at $72,295.
- 4-Hourly Chart: A close above this level could indicate further upside potential, with the next resistance at $73,785.
- Buying Opportunities: Potential buying opportunities exist at $67,923 and $65,244, where price action may pause or reverse.
Trade Strategy:
- Resistance Breakout: If Bitcoin closes above $72,295, it could signal a bullish continuation, with targets towards $73,785 and beyond.
- Buying Zones: Look for buying opportunities at $67,923 and $65,244, with confirmation from candlestick patterns indicating a potential reversal or pause in the downtrend.
Risk Management:
- Set stop-loss orders below key support levels to manage risk.
- Adjust position sizes according to risk tolerance and trading strategy.
Your Opinion Matters!
What's your take on Bitcoin? Do you anticipate an upward or downward movement? Share your thoughts in the comments below!
👍 Like if you found this analysis helpful! Follow for more updates on Bitcoin and other cryptocurrencies! Remember to perform your own analysis before making any trading decisions.