FXBTCJPY trade ideas
(4h) Double bottom in formation above 200 MA
Double bottoms at 200 MA and eventual bullish trend continuation setup:
Eventual Bearish Bat;
IF 2nd target reacehd it ill forge the 2618 bullish setup, projections above the higher highs...
Of course, any close below the major double bottom will invalidate the idea.
At last but the most important:
we only validate a double top/bottom after a broken neck...
Safe Trades;
Short-term scalpingIf you want to make a dollar or two from scalping, watch the lower support and buy if you see signs of reversal upon reaching that point. I'd say it is a likely buy if it reaches the bottom, stronger line of support.
That said, Aug 2 could bring either a surge or a major dip. Watch the news carefully and don't go against the overall trend. So far, it seems to be quite stable.
May hard-fork be with you.
looks like the top is inI sold almost all of my Bitcoins and went short.
Just remembered some old words...
BTCJPY: 1 year spreads are closed nowThis is an interesting phenomenon, the 1 year spreads in BTC prices have now converged. Weekly charts show $BTC can continue rallying, but it is good to take some precautions, holding equal amounts of $ETH as a hedge to it.
I'm not sure of the implications of the spread closing like this, but it might affect prices soon. Perhaps it is related to Bitfinex, since spreads closed to the upside to match prices there, despite the problems with USD funding and withdrawals at that exchange.
Interesting to keep an eye on the action from here onwards.
Good luck!
Ivan Labrie.
Bitflyer on tradingviewFirst bitflyer chart on tradingview ^_^ www.youtube.com
bitcoin to the moon :) soon™
