All About The Weekly Chart
Bitcoin has had a quiet weekend, the first in a while. We now have a bullish candle in the cradle zone on the weekly. This is the candle I will base my trading around this week.
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The Trader Cobb Crypto Show. Talking business in blockchain.
Good day everybody and welcome to the Trader Cobb Crypto Show. Hope you’ve had a good weekend. It was certainly a wonderful, wonderful bit of weather here where I am in this part of the world. and I’ve really thoroughly enjoyed it, taking some time away from the market, simply put, I was wanting to have a weekend. You see this coming weekend, this weekend coming up, the 26th and 27th, I’ll be running a two day event in wonderful Sydney. Looking forward to that immensely. If you are in Sydney and you are coming along, I look forward to meeting you next weekend. If you aren’t in Sydney, consider coming along. I think there’s about six spots still left, so there, you are able to get along if you wish to do so. Just go to the website and get yourself along. Now, last week I talked about Bitcoin on the Weekly Candle. I talked about the fact that it had pulled back, about 33%, just a little bit more than that. So not quite on that 35.75, but don’t forget, that was an average. It doesn’t have to pull back exactly to that to be considered a decent pull back. We pulled back into the 10 period moving average, into that cradle zone and we’ve got a bullish candle now, right now, sitting there above 10,000. Current price is 10,600 on the nose. Down 1.45%. In my week’s trading is going to really be, I suppose based off of this, what happens off this weekly candle. If we are to then push onto break to the high of that weekly candle, and the high is 11,112, if we push above the high then I can see us continuing on to break a new 2019 highs, and possibly in this run maybe even get up to all time highs, but one step at a time. It’s got to break that 11,112 level first. If we do see that point broken, then I do see a high probability of continued upside given that we’ve just seen a weekly candle print in the cradle zone and a break of the high would be certainly bullish indeed. Looking at the lower timeframes Bitcoin really doesn’t interest me at all. It could still very easily fall, you know it really, really could, and there’s still some opportunities out there that may potentially set up today where we will see further downside across some of the alt markets as well, given that they are in some quite good consistent down trends. With Bitcoin right now I am literally waiting for that weekly. I don’t like anything that I see here just yet, on these low to mid timeframes.
If we do break up through that weekly candle point, I will also have a higher low on the 4-hour. And that will really open up me for more trading opportunities. Moving on to a theorem now it’s a 225 and 69 cent stand. 1.2% in the game. A really nice down trending play here on a theorem. Just not quite back into cradle zone as far as I would like. Again, in no man’s land from my point of view in the four hour, as well as some of the other, higher timeframes. With the theorem right now being down about that 1% mark it’s not a move I’m willing to trade on. I’m not willing to make a move on this one, at all, at the moment. Again, I want to see what this market delivers in the coming days. The odds against those dollars is at 4.33. Four dollars thirty-three, I should say. It’s up .61 of a percent, again, really nice down-trend there. Sitting around that 440 mark waiting to see if there is another little cradle candle that does set up further down. For the time being, however, I’m leaving it alone. I’ll go hand with most of these markets. Sellalum is sitting at 9.1 cents down 3.79 percent. Still a very messy chart on the daily. Although it is grinding down it is grinding down slowly. XRP has had a pretty good bounce off of that 28, 5 cent mark that all supported has bounced from there thus far into the cradle zone. It’s not suggesting to me yet that we’re out of the dark and we’re in the clear skies. It does look to me, though, it’s going to take some time. If Bitcoin does move higher, then I suggests Ripple or XRP. Excuse me. Probably will do the same. It’s currently sitting at 33 cents down .58. Not really tradable from my point of view at the moment. Lightcoin. 99 dollars and 72 cents. It’s holding and struggling around that 100 dollar mark at the moment. Once again, there is no real clear trading opportunity for a downside move just yet. Maybe in the lower timeframe setting up some form of support later on throughout the day, but at this stage there’s just nothing quality enough to call a trade at this moment in time. You’re only going to double 73 cents 10.64. Bitcoin cash. A beautiful pullback in the 334, which is an old level of resistance now it’s become support in our resistance. Again 321 dollars and 41 cents. It’s down .9 of a percent. Again, I’m just going to have to wait. Abonnage is down 2.2 percent at 30 dollars and 41 cents it has been meandering along between 38 or so. Down to as low as 24 dollars. It has a quite a de cense of a range there. It’s still holding, it’s not having any of these massive pull backs after a good, strong run. It’s had a bit of a pull back, but its holding its ground. We’re down 2.15 percent right now. Trons up. It’s actually up more than anything else in the top ten today. It’s at 1.1 percent Sitting at 2.9 cents and it’s just had a very, very strong rebound. Still, again, it doesn’t look like a tradeable trend for me at this moment in time. I’m going to have to continue to access that, but nothing there right now. Cadano gets the dollar, as well.
Back in that cradle zone in a very strong downtrend. We will be seeing more in a further down slide today. I don’t know. The count was just a little bit too big for me on the daily to attacking that. Trade is at 6.1 cents down 2.52 percent. Again, guys its about time that we sit back and wait for the opportunities to arise. I am in no rush at the moment. As I say I’ve got a fair bit of work to do and rest to do leading up to this three-day event in Sydney. I am going to be taking it a little bit easy this week and getting ready for that event. Hey guys, also there has been some wonderful feedback on social media about the podcast and what not. I’ll tell you what if you do like this show if you do enjoy what we put out there it’d be really great if you could go and write a review on the podcast. On the iTunes or wherever you get your podcast. If you’d give us a review I’d really really appreciate that guys. Have a fantastic week and we’ll speak to you tomorrow. By for now. This show is proudly sponsored by TraderCobb.com, the leaders in checklist based trading strategy. Yes, that’s exactly how it sounds. I’ll teach you a literal checklist that you can tick off items and be decisive very quickly. Get across to TraderCobb.com where there’s a bunch of free content there for you to have a look at. Of course, if you’re interested in having me come to your city click and register for the live events coming up and filling fast. Have a great day. Visit TraderCobb.com now.
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