Potential Trades Setting Up

Summary

Bitcoin has exploded with cradle and breakout trades working well over the past few days. More are setting up right now so I show what is on the cards for potential trades for all of you that have done the courses and know the strategies. If you haven’t then now is a great time to get into it.

 

Transcript

– Good day guys, hope you’re well. Wanted to get this out really quickly. A couple things I’m looking at right now. Two charts. One is not a coin-based chart it is actually the XBT, which is the Bitmex futures contract here. This is the perpetual for Bitmex. Right, breakout level starting to setup here. Keeping a very close eye on that. Need a third test. Nice and flat to converge as we come up into here. Simple Bitcoin breakout-type strategy would be the play. Now, has it worked in the past? If you look at Bitmex back here, not so much. If you go back a bit further, excuse me. Sorry, I’ve got a bit of a cold at the moment guys. You’ll note that this little flat level are here. Three test, one, two, three . Boom. It worked very very well. If I can back to now Bitfinex, you’ll also see yesterday and unfortunately I was so unwell yesterday I couldn’t take this trade. But look, that was a really nice breakout. I’m looking at something very similar to be occurring at the moment and again a breakout. Look at this up here. Look it didn’t work out as well, you might have got one-to-one on that. It wasn’t quite a setup. Not a trade of a one because it was divergent. Breakout here. Lovely move. And again, not so much on the Bitfinex. It is setting up a little bit, but I much prefer the XBT, as we do have two very clear tests. Watching to see if we can get that setting up, as we have convergence counting back now. For those that were trading yesterday and took this, you’ll have at least one-to-one here on the pullback to $85. 85 being the operative point. The resistance level here. Beautiful run up, pull back in and the nice move. Still keeping an eye on it if it was to push higher. Right now as well we have Bitcoin, ugh. Can’t really get my words out today. We’ve got OMG. Now, that line should be right here. I was watching this for potential breakout leading up into that level now, as we’ve got a breakthrough already. My viewpoint is not so much to try the break, but more or less if it pushes above, and it pulls back in there could be options for Fibonacci booster-type setups that could also be options for cradles, pulling back in to that level. Probably more than likely late tonight, or early tomorrow.

Another one against Bitcoin, look it’s pulled back into that cradle zone beautifully well. I do like the way that’s setting up at the moment. If I just show you, if I draw in the . Let’s have a look here. On the 50% there and then if I just do this one, I think it’s 38.2. I want to do that one. Double-cluster. Sorry, hang on. That’s into there. Actually, I’m already looking in the lower timeframes here. Get rid of that one. It was that one and this one. If I recall correctly. Yeah, yeah that’s at 38. 38 and 61.8. Now, I didn’t take that as a booster. I was happy to sit back and just wait and watch on the . Why? Because look where it gets us back into. Right into that cradle zone. Very happy with that. If I get rid of that one there and we focus on where it’s come back under the 50 and then we draw this one in here, do we get a , I’m just checking here. Uh, no we don’t. Fair enough, no worries. Either way, cradle right here. Yes, it’s not the smallest of candles, but at the moment the candles are getting a little bit bigger as the volatility obviously increases as well. So keeping a very close eye on that one. That closes at six o’clock, so that’s when you need to be around and make sure that that, if it sets up, that we take it. Now of course, the market continues to soldier higher, looking really nice. A pullback occurred yesterday as well. We’re getting really nice cradle trades setting up. We’re getting really nice breakouts as well. And look, it wouldn’t surprise me at all to see a little breakout of that 8,100 level when we look at the XBT here. To push on for another big day. I’m suggesting that as the momentum is there. It could also very well pull back, so it’s always important to manage your risk at all times guys. Now, if you’re sitting around not quite sure how to trade, that’s on you. The markets are moving, it’s wonderful out there. These watch lists are pumping. Look across the top 10 today, we saw XRP get listed on Coinbase. And look at what we got from that. A stellar move of over 20%. It’s broken that range.

Will it continue to move on? Well, let’s wait and see what happens, but look, it certainly found some support in around this level. A consolidation of quite a long time. Really interesting times right now. Really good times to be trading. If you’re not trading right now guys, I ask you, “Why?” You’ve got opportunities to be a Hodler and make money in this market, you’ve also got opportunities to learn how to trade and use margin to really milk the market for all that it’s worth. I just wanted to share with you my watches for the time being. What I’m stalking right now. Have a fantastic day and don’t forget if you’ve got friends and family, that are now asking you about Bitcoin and what it actually means, if you go across to the website, tradercobb.com, you’ll actually notice in the menu dropdown there’s a free course in there. That free course will literally talk them through exactly what Bitcoin and Blockchain technology is. It’s a great spot so that you don’t have to spend an hour or two trying to explain it to them. Let them watch that, and they’ll have all the information that they need. Have a fantastic day and I’ll speak to you again very soon. Go Bitcoin.

By Trader Cobb -

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