Bitcoin Trade Update: Opened Position
Opened 1st Bitcoin trade position, price currently misbehaving. Above is my current working chart. It shows a new Fibonacci retracement of the previous downtrend, the MACD indicator and fractal ^ symbols - these are historically significant high and low turning points. An explanation of Fib levels and the MACD can be found in Part 1 of my previous forecast. Also shown is my stoploss level, a major Support / Resistance line at $800 and the All Time High. My current trading plan, as well as previous plans, can be seen on my Trading View profile. I'd like to recommend Trading View again, they....
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CEX.IO Bitcoin exchange has launched BTC/USD and ETH/BTC margin trading with special risk-preventing system. The BTC/USD and ETH/BTC margin trading with 1:2 and 1:3 leverages comes with a range of competitive advantages making it easy and attractive even for beginners. Thus, no extra margin account is required to be opened to trade with leverage, and borrowing funds is done automatically together with position placement. The risk-preventing system ensures that the position will be closed at price and not worse than the stop loss price. Therefore, margin trading cannot move user’s balance....
Bitcoin price is traveling under a bad sign. The possibility of strong decline from the current chart position is high but, thankfully, mitigated by established support below. Will the support hold? We cannot be sure and focus on building a short position regardless of where the bottom may be. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h41 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Price has....
Bitcoin price decline accelerated overnight. Downside progress has seen price dip below $420 earlier today, and a correction currently has price retesting this level. Price looks to be embarking on the next wave down after a correction from the most recent low, and the target remains $400 (Bitstamp). The 1hr 20-period moving average (MA) has crossed below the 1hr 200MA (red). This is a bearish indication but, unfortunately, there is no confirmation signal in any other timeframe to justify increasing position size. If price does make the plunge to $400 soon, we will only get the benefit of....
Here's what we are looking at tonight, and a live bitcoin price position we are currently holding. Let’s start this evening’s analysis with a chart. The chart below highlights the action we have seen across the last six or so hours in the bitcoin price (throughout the European session morning and early afternoon) with this morning’s framework still applied. We’ve left it on there to highlight the position we are currently in, and the levels that both got us in to this position and that we are targeting on the trade. As the chart illustrates, we took a long position on the break of in term....
Here's a look at what we are focusing on in the bitcoin price this evening. In our bitcoin price analysis this morning, we set up a pretty tight range, and noted that we would look to get in and out of the markets according to the rules of our intraday breakout strategy if price broke through either of the parameters that defined this range. Action has now matured throughout the day, and we did get a break as expected. The break came to the downside, and not that long ago, and as such, we remain in a short trade as things stand. Our strategy dictates that we don’t enter a secondary trade....