Bitcoin Price View & Trading Update: Increased Long Position

Bitcoin Price View & Trading Update: Increased Long Position

My working chart, showing Bitcoin price candles, grey volume bars, fractal highs(^) and lows(v), trendlines, support / resistance levels, Fibonacci retracement levels, MACD indicator and Moon Phases. I've discussed the use of all the indicators and line studies on my chart in previous articles, particularly this one. The only new addition this time is Moon Phases - note the two white full moons and two blue new moons in close proximity to price. Moon Phases show the extremes of the moon's waxing / waning cycle. I've included them as these lunar periods marked the last three significant....


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Key Bitcoin Price Levels and Trading Update for Week 2 (5 - 12 Jan) of 2014

Bitcoin price has broken the key psychological level of $1000 on Mt. Gox and pushed above $900 on Bitstamp. The Bitcoin price is exploding right now! Possible reasons for the push are mentioned elsewhere on CCN. As can be seen above on the daily chart, a long green candle is forming on the 5th day of consecutive gains. This is good news for all of us with long positions. I added the final portion to my long position on Friday the 3rd as the Bitcoin price cleared the key $800 Support / Resistance level. As price has also blasted through the 76.4% Fibonacci line (dark blue), I see no obvious....

Bitcoin Trade Update: Opened Position

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Key Bitcoin price metric shows pro traders increased their BTC longs

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Bitcoin Price Goes East

Bitcoin price continues trading sideways as the market ponders its next move. If price action repeats the corrective price pattern circled in magenta, we may see the next wave down in the coming days. There is an annual pivot level at the level annotated in orange. Price may pause at this previous low, and even bounce higher in a more complex correction, so the xbt.social trade recommendation that will be issued later today will only be for a half size position. The position can then be increased as decline continues below this strong support zone.

How to Short Bitcoin

A whole lot of Bitcoin holders have made bank on the cryptocurrency's recent meteoric rise. But is it possible to make money from a falling Bitcoin price? Well, it is now! But let's start at the beginning, by defining terms. In trading, a bet that price will fall is called a "short." This is the opposite of a "long," which is buying something in the expectation of a future price rise. Probably a lot of people reading this are long cryptocurrency, or at least thinking of going long. The old joke for people who've bet the farm on a long position is that they're "long like John" (Holmes, the....