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BTC/EUR Possible re-entry level EVEN trend is BEARISH!We have to see and follow the current trends. We are currently in bear season eventho bitcoin remains bullish. News from China doesn't make it any easier. Bitcoin has recovered before from bigger news than what we are receiving from China so I'm trying to search for buy opportunities. Anyway... Entry level should be in between 0.5 and 0.618 fib level but above ma20 which is the yellow line. Why I think this is ideal entry level? - We have bounced from MA20 before as I have pointed with green arrows and I keep it as the "bottom". - People do value BitCoin and have survived before. Worse scenario we had so far within BitCoin? No I do not think so. Why? Do your search! Comments and likes are welcome! -Yarr
by yarr
Trading Breakouts & Planning ExitsBITFINEX:BTCUSD Over the past week BTC seems to have been developing a few interesting trends and based on the current chart with a one day time-frame I want to discuss one of the most evident patterns that will be familiar to most and probably new to some. In this case, we'll be talking about the triangle breakout which I believe to be in play at the moment, the last few legs before a potential breakout. For those unfamiliar with the term 'breakout', it is described as a stock price that moves outside a defined support or resistance level with increased volume. In most cases, a breakout trader would enter his/her long position after the price breaks above resistance or enters a short position after the price breaks below the previous clear support level. After the price trades beyond the threshold/barrier the volatility increases and prices will trend in favor of the direction of the breakout. In a lot of cases, trading breakouts is considered to be an important strategy because these points reveal themselves to be the starting points for major price trends. In this case, for the long run. In the case of BTC we can see a triangle breakout that has been in play since the support level of $1800 during the month of July this year. A positive breakout then initiated with a slight reversal just before the beginning of the month of August. The price entered short term consolidation before the positive breakout that has resulted in so many happy traders who were lucky enough to buy in during the July dip. Even during the most recent dip when BTC retested $2900 levels, traders with long positions since July have remained profitable and I'm certain there's a few players who regretted jumping of the wagon when they got scared by dipping prices. Don't trade on impulse. I can't stress that enough. Quite a few folks have "gambler type" trading habits then wonder what is wrong with their trading strategy. Regardless of the time frame, breakout trading is a really good tried and tested strategy that has proven itself over time. Whether you work on intraday, daily or weekly charts, the concepts are universal. When trading breakouts the most important factor to look out for would be the support and resistance levels that have been tested and retested. The more these areas are retested, the more valid and important these areas become. Entry points on these trades will mostly be determined by said support and resistance levels. When the prices closes above a previous resistance level, a trader will choose to establish a bullish position & vice versa. Be careful of "fake outs." They mimick breakouts and tend to trap most young traders/investors trading on impulse. Wait for confirmation of the breakout. A candlestick breaking a little past your entry point doesn't always mean you're good to go. It could result in an end-of-day reversal that sees the price trend reverse. Very evident in our BTC chart. Point (b) on the chart seems to be a repetition of point (a). In the past, we can see that at point (a) we experienced a short term break past the 0.786 retracement level before a resistance reversal which saw the price find support at the 0.618 retracement level and the bulls saw the price through to $5000. Based on the short lived bearish trend at point (a) tells us a lot of bearish traders were caught in the headlights when the price turned around and went for $5K all within the span of 6 days. If an investor acts too quickly or without valid confirmation there is no guarantee that prices will continue into new pre-defined territory.
BITFINEX:BTCUSD
by doomnometron
2
O My God - I wanna buy this so Bad, right now!!! OMGI blew this trade so bad, I was studying the white papers on OMG in early August when it was about a $1.20.... It got put on hold because nothing moves this fast and I have a stack of white papers I wanted to get thru. One day I thought about it and looked it up and I said O My God, it was 8 dollars. Then it went higher, and higher. So this is where discpline comes in, this discpline crap is a lonely life, its no fun at all, but this is what seperates the Winners from the Losers.... I got that fever where I wanted to trade just to get revenge cause I missed this, then it got worse cause it kept going higher and I felt like I was being left out. I felt so defeated and torn that I was thinking I should just close my eyes, roll the dice and push buy. Luckily I associate emotional trading with emotional pain, and if you lose enough money, you will develop this special skill too ;-). First of all, the price is high, its too high, if you buy it right now, you are gonna be in a world of pain, Nothing goes up forever, except "Bitcoin", and this has made a massive move, I mean huge in terms of percentage points, I dont even know how many zeroes in percentage points this thing moved. So anyways, It looks like its ready to trade sideways and bounce around for a bit, if you look at my buy zone, you will see it is right below a volume stick and the "POC", The Point of Control, its nothing fancy, no complex math formula, it is simply a high volume node, I like to use this when I cant find an entry point, so I throw this up with some FIBS and came up with this buy point, the POC is simply a price where traders did a lot of business, they liked this price for whatever reason and there is a good chance they will defend this price, they defend it by buying more there. What you want to do here is put in a standing limit order between $7 and $8 dollars with a really tight stop, My motto is "Its not how much you can make, its how much do you want to lose to make it", If you want to buy higher and take 4 or 5 dollars of heat, its your money and be my guest, It simply stresses me out to much and I dont like to lose money, so I dont risk a lot of money to get in a trade, this is why entry points are crucial for me. Anyways, Trading is going to be insane around that POC, why? Cause traders like that price and they want to do business there for some reason. So we want to catch those spikes that blast down into the buyzone and get bought back up, think of OMG as going "On Sale" everytime it dips in the buy zone. if you look at a lot of the most recent candles you will see that they all have wicks, on both sides. This happens because there is an equilibrium of buyers and sellers, they are happy together here, everyone is getting what they want and they have found VALUE here. There is always a chance this will not happen and we miss the trade, but thats ok, we only want the best trades with the lowest risk at stellar prices. OMG has 5 dollar swings, thats pretty serious when you are trading large, so try my idea here if you want a stress free trade. I have no Idea when it will get there, this is a Daily chart so it could be many days before it wanders to that area. So just set your orders and go about your business and one day it will get filled, these volatile currencies tend to have big spikes down and up, so you dont want to miss these. You can also put your Order just above the POC or right on it, it can be pretty tough support at times. But the flip side is that when it fails, you dont have to second guess it, that is why you can have such tight stops. Good luck! Be patient You are waiting at the Buy Zone, so let the trade come to you...... Dont run after it.......
BITFINEX:OMGUSDLong
by Netrunner
3
Monaco (MCO) buying opportunityMonaco (MCO) buying opportunity. It passed two support levels and 0.00247564 would be a safe entrypoint. Disclaimer The information is not intended as and does not constitute investment advice to any person. The information here should not be construed as any endorsement, recommendation or sponsorship of any company or crypto. There are inherent risks in relying on, using or retrieving any information found here, and I urges you to make sure you understand these risks before relying on, using or retrieving any information on my posts. You should evaluate the information, and you should seek the advice of professionals, as appropriate, to evaluate any opinion, advice, other information.
MShort
by Piraiee
XMRUSD 2H CHART MONERO TIMECYCLE ENTRY LEVELMonero has tested several times resistance on the $47 region. for long-term positions. A close above resistance, will lead to an immediate target of $52 However, price has been in range between major support and resistance zones for over a month. Moreover, there seems to be a timecycle we might take advantage for some trades. Bands in red and green are very narrow, to avoid risk. ATR is low, market on downtrend. Wait for a bounce back up around the cycle, and confirm with RSI, candle pattern and DMI. WNZ Get live updates and analysis of the cryptocurrency market: t.me
BITFINEX:XMRUSDLong
by WaineNZeddmo
How to Trade a Range and Potential BreakoutHello Traders, All of us want the price action to follow the direction of our trade but that doesn't happen always. The price action has a natural tendency to move up and down; build ranges and develop patterns. Most of the ranges and patterns are like whipsaws and many traders stuck in these situations and lose money. The most effective ways to deal with such a price action is patience and a better strategy. When I say better strategy that means the one which keeps you ahead of the others. In this backdrop, I have tried to spot better entry points in case the price action builds a range after a nice up move and we are visualizing a potential breakout on upside. The basic principle behind the strategy is to "Buy at the low and Sell at the high". It should be noted that the entry spots can not guarantee sure win but surely minimize our risk and increase the chances of reward. After an entry, stops can be placed either below the range or below the prior swing low -- whichever suits the situation. Same strategy can be applied, in opposite direction, in case the overall trend is down and we visualize a potential breakdown after a range. Notes on the chart. Hit like for better educational publications in future. Comments are welcomed. Trade safe. Best Regards Bravetotrade
Education
by Bravetotrade
3
Let's try and head north on Dash / BTC ? Several interesting elements here : - Nice oblique resistance - Hitting a former resistance - 0.786 fib retracement Target : as high as you can hold the position without fearing it to go downward, patience being bitter and its fruit sweet, shall we say. Taking long on bitfinex, this does not constitute an investment advice, beware of cryptocurrencies' high volatility. High might be the gains, but tough it is to manage position, having a good idea isn't enough, the hardest part being trusting your idea and not fear realising it until the end :) May the force be with you tradersview :)
DLong
by VanillaBSV