Winning Bitcoin Trade
Bitcoin has been the performer this week and thankfully the single opportunity was put up into the community and onto market view for all to view. It is now well beyond 1:1 and looking strong. The rest of the top-10 is quiet.
Clearly it’s important to know when to strike and when to sit back and wait. I will show you some live scanning and how I approach the market daily on next weekends Brisbane live course. If you’re not booked then book now and don’t miss out.
G’day everybody out there. I just wanted to touch base, talk you through a couple of things. Market’s moving. It’s done pretty much what I was hoping for it to do, really, what I suggested it might do, so I’m pretty on the money at the minute, which is good. Makes trading a heck of a lot easier when you’re feeling that flow, and certainly feeling it at the moment. I’ll try that one out in the community, and on the market view.
This little cradle back here was actually on the XBT ’cause the Bitfinex contract was shut. This little puppy here, obviously, one to one, fairly easy, fairly quickly, before the old resistance, and now looking really, really tasty. Indeed I’m very happy with that. I am looking for other opportunities ’cause I do like to layer positions. Layering positions means I’ll scale out and let the thing run.
If I can get five or six, seven, eight, nine, 10 or more, and we do get a really, really good run, then that’s when you make, not just some money, but a lot of money. And what I’m seeing here is, as I said earlier in the week, we’re sort of hangin’ out and we’re losing momentum of the sellers. Now what we’ve got is we’ve got the buyers coming back over the last three days’ shorts. Slowed down a little bit today, but they’re still there.
We’re still seeing those buyers ever present, all right. Now they could certainly pull back, and a pull back to 10,000 would be certainly on the cards. It could pull back further, let’s be honest, low or high, low or high. This could just be another low or high. But now that we’re outside of that cradle zone, I do see the higher probability for further upside for the time being, and of course that means that I will be looking for opportunities.
Now we’ve still got the entire weekend to go before we see this candle close, which will be at 10 a.m. on Monday morning. And I’ll be in the air. I’ll be flying up the coast. So for me, I’ll have to check it when I get up there. But there’s definite potential there. Again, coming to the four hour, let’s have a look at that. There is a bullish candle in the cradle zone. I’m not too keen on that one just yet.
Just a little bit big. I’m well-positioned already, and I’m happy to wait. For the rest of the top 10, well let’s have a quick look and see. Well we’ve got Ethereum back into this old level here, not a major level, not really the most supported level, but it’s certainly back into them. But am I interested? The answer is no. The trend’s not good enough for me.
Before I say the trend’s not good enough, let me just take you, I didn’t really notice that. That’s the low there. Okay, that changes things. I missed that spike down. I just saw this as the low. This is the low down here, and it is just at 61.0 percent pullback. So yeah, look the trend is there, I should say, not is not, it is there. It’s just, there’s nothing there on the two hour for me to trade. The four hour right here as I see it. Look it’s not the smallest candle.
EOS, Stellar Lumens, Bitcoin Cash
It’s not the biggest either. It’s definitely worthwhile consideration, but I’m happy to just sit back and just wait for a little bit then. EOS is obviously down though. Interestingly enough, the rest of the top 10 other than Bitcoin has still been suffering as we see again on the Stellar Lumens. There’s not a great deal going on outside of Bitcoin. Very, very little activity, that’s for sure. 334, still resistance there on Bitcoin Cash. Now here’s something that I can tell you. If this plays out, I will be very interested in it. Look at 334 back through here.
Resistance, it’s been tested, it’s found resistance again twice there. Now look, we broke above there. We’ll have a higher low and a higher high, especially if we get through this level here. A pullback in at 334 may present opportunities on the way back. That’s something that I’m keeping a close eye on because it could present some really nice opportunities. Again, Binance having a hard day. It’s not looking very good. It’s back in the daily there, in the cradle zone, and it looks quite bearish on that daily.
TRON, XRP, Cardano
TRON continues to ground lower with support there. I’m not interested. And finally Cardano, again, a very sideways-looking chart there. So again, guys, it’s really Bitcoin that’s been giving the opportunity for me realistically. And I got stopped out of XRP Bitcoin, which I took last Friday. It was a profitable trade. So too was Bitcoin trade here. Sorry, so too was the Bitcoin trade here. The Zcoin trade I took earlier last week, not a profit.
At the end of the day, I had another profitable week. Feeling good about this weekend, waiting for more opportunities. Now, if you’re not already booked in, guys, this time next weekend in Brisbane, I’ll be presenting in the live course environment, and I look forward to seeing you there. If you haven’t got your ticket, then make sure you get it now because we are filling up very, very quick. We just got to print out all the booklets that we take to give to you to work through. So we want to get numbers sooner rather than later. Have a fantastic weekend guys. Trade safe, bye for now.
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