So, back to Bitcoin trading – Time flys!

Last update was in March? Wow. What’s been happening? Well, Bitcoin isn’t trading still at $5,000 that is for sure. Bitcoin price headed north and broke through the major resistance at $9,204.20.

On the 1st of June Bitcoin hit the top major resistance point of $10,373.75 and hasn’t made any attempt to break through since.

Coronavirus.

Life has been a little bit upside down since the beginning of the whole Coronavirus issue for me back in March. I am now, like so many others, trying to regain some normality and will update frequently again.

Have I still been trading? Hell yes! I’ve still been following Bitcoin and selected AltCoins, daily – It’s my addiction!

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What goes up must come down! – How I use ‘FIB Extension’ – Fibonacci Extension

Bull runs are great, aren’t they? Unfortunately though as the title says the old adage is true.

It goes up it comes down = volatility.

Bitcoin is extremely good for this and makes trading fast and fun, if you’re on the correct side of the trades.

Bitcoin, and cryptocurrency in general, is the stock market… On steroids, wheeeeee.

There can be lots of money to be made/transferred to the educated, or lucky, but that would quickly run out. Knowing where to buy and sell intentionally is the way forward.

Continue reading “What goes up must come down! – How I use ‘FIB Extension’ – Fibonacci Extension”

So, we have found the direction and we have identified support and resistance… Now, where the heck is this going long-term? Introducing channels.

Time to be honest, once again. I really struggle with placing channels whilst trading. Cryptocurrency, unlike the stock market, doesn’t really seem to move in traditional channels.

That being said though it is always good to try and use them. It’s better to have some idea of long-term predicted movement rather than placing a trade and just hoping.

Continue reading “So, we have found the direction and we have identified support and resistance… Now, where the heck is this going long-term? Introducing channels.”

Sorted, I understand the indicators. Show me the next lot of fancy stuff! – TA, Trading Analysis.

Now that we have established a price direction using cryptocurrency indicators, we’re going to have to see if this direction is following any trading trends.

Bitcoin, similar to the stock market, has certain ways in which the value is traded. Imagine there is a big chart and everyone has seen a trend together and are following the same lines and levels. It is this that we need to identify as well.

Continue reading “Sorted, I understand the indicators. Show me the next lot of fancy stuff! – TA, Trading Analysis.”

I’ve got me a TradingView chart. What do I need next, what are these indicator thingamajigs?

The main thing when trading (or looking to buy a cryptocurrency at a really good entry point) is that you’re going to want to identify the direction that a coin is traveling in. Now, even though this sounds easy I can assure you it really isn’t.

Cryptocurrency like all markets is 50/50, most of the time. Either traveling up or down.

There can be times though when a coin just travels sideways, known as “Bart” or “Barting”. This kind of sideways action gets its name after the Bart Simpson character’s hair style. Short movements moving only slightly up and down for a period of time.

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Show me the money!

So, you want to know how to buy cryptocurrency?

First things first, understand the market.

I wouldn’t suggest doing what I did. I literally logged on to an online exchange checked out Bitcoin (BTC) saw that it had just had a great run up to $19,000+ and thought “Yeah, this is it! There is money to be made here, it’s going to continue going up, right?”

I was so, so wrong!

Continue reading “Show me the money!”