Tag: bitcoin

The boring market report July 15th 2020!

Dear readers, passers-by and friends,

We are middle of the summer and your goal is to get rest, enjoy the sunshine, get enough sleep and stop worrying about nothing.

I got very genuine comments over the last months, most positive, and overall very motivating. Now I see many comments copy / pasted while changing one word by an other, but since I have elephant memory, I remember every comment written previously. Please take a little time to think before writing! I also enjoyed the worst comments a blog can get “you text is so full of misspelling that it is not readable, I am very disappointed” (sic, I had to fix the spelling): you are excluded, man, do not come back!

Let’s get back to market summer conditions. S&P500 is about to reach the 2 downward sloping reaction lines. Will it go through unhurt? We will know in coming days. I have moved my stop up to 3050.

Bitcoin is also lazily resting on the random path. I am an unconvinced bear, eying at the bottom indicator to come back up the zero line. Wait and see!

Gold (or even better Silver) is the place to be for now (outside stocks). No cloud in the horizon, for a golden suntan! A stop at 1750$ seems a good idea to me!

That’s it. Until next time, trade safely!

The boring market report July 7th 2020!

If trading is your only occupation (not my case!), then life can be quite boring. The fact is you only need to wait… until there is a crisis or some excitement somewhere and then you enter the market, make your gains and go back to your boring life! Patience is key!

Summer time should be dull, shouldn’t it?

Anyway, a good time to look at all the funny articles on internet. Look at those two brilliant analysis:

https://www.tradingview.com/chart/BTCUSD/p9X91CHn-Possible-bitcoin-price-drop-to-around-1800-after-halving-in-May/

https://cointelegraph.com/news/bitcoin-is-the-new-apple-how-btc-price-could-reach-60-000-by-2023

What? One says 60k, the other one 1.8k? Predictions, pretty much like conspiracy theories, are fun to read but you can not make anything with this information!

Fact is bitcoin is enjoying for now a cool summer, on a small downward slope. Capital is flowing out quietly but Bitcoin stays above the random walk path. The objective for down move is about 8100$ but I do not see enough bearish energy. Should it resume the uptrend, then objective 10250$, not that much. Quite boring for crypto!

S&P500 continues on to next reaction line, which could be reached… next week! Maybe some sport is coming… or not!

As for the Nasdaq 100, a warning line was reached yesterday. As for S&P500, there is divergence with bottom indicator (the WAD2.0 if you follow!), only a warning of course. I hope you are in since mid-April, a stop at 10k is now the best idea you can have!

That’s it! Until next time, enjoy the summer, stay away from harmful virus and trade safely!

Volatility lovers: Crypto, what else?

Investing in crypto currencies might be something for geeks, many of you probably think, but for the pleasure of trading small amounts and and making big gains in percentage, this is worth a detour.

It is not because you hate some companies that you should not invest in them. Trading is about making profits, full stop. Yes, crypto may not environment friendly, and will be worth zero should a huge wordly power outage occurs but that is a risk you have to manage. Also crypto are showing the path to the future, nobody in maybe 10 years from now will pay with banknotes and coins. This is why you should be bullish on this technologies and why not trade of few them!

There is now a big number of cryptocurrencies to invest in, but please stick to major ones, as most of them are scams and will be worth zero far before our gigantic power outage! I do not wander beyond the big ones like Bitcoin, Etherum, Litecoin and a few others. Trading those is actually quite straightforward because of huge volatility, and remember volatility means also likeliness of emergence of trends. Use a Kagi graph to enter is easiest strategy, then use a candlestick graph to place stop!

Here we go with Bitcoin!

Bitcoin bottomed out by March 22nd, Kagi lines made a 2-level break, MACD is up. One day later, the double window bottom was also confirmed. I entered below 6000!

If the accumulation/distribution also showed a buy signal about the same time, it was not so obvious we should go! Skeptic bull, uh? As the trend lines then started going up beginning of April and price starting to hover the random walk path, it was second possible entry!

Where is Bitcoin headed now? As you can see on Kagi, the Bollinger bands are pointing upwards. A correction may or may not come, next objectives are 10700 and 12000. Out if closing below 8800 (as of today!). Just wait and see!

Note: major crypto currencies will not disappear tomorrow, unless this enormous power outage again! Using a stop based on volatility is fine. But price may zoom through the stop line, so be careful and make the line size much smaller than on a stock and you will be safe!

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