You’re still here! Excellent… It’s time to do the important bit, let me show you how to sign up to Coinbase and lead you by the hand to buy your very first Bitcoin. Exciting times! (Sounds patronising but it’s actually not, I was well excited my first time… I also enjoyed buying Bitcoin as well.)
Note: At this point you should start to have a dislike for Fiat (normal currency). According to all chat boxes on every crypto exchange that you’re going to use from this point forward, Fiat is evil.
Blockchain cryptocurrency… It’s the future, man. Well, is it? Who knows. That being said though it has done pretty well in the past 10 years.
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?”
Just a brief daily mind stretch. Trying to see if I can identify Bitcoin support and resistance.
Feel free to add a comment if you see anything I miss.
Not financial advice. I’m just trying to work out the overall direction for Bitcoin in the near future.
(This is just for fun) Remember; Bitcoin is a highly volatile beast and has the ability to change direction, in seconds.
Always use a stop loss!
Please note: I am neither bull or bear. I trade either direction, it’s all about the money, baby.
Daily (Yellow) Higher Fib resistance $10,225.32 Lower Fib support $8,931.10
Major resistance at $10,373.75 (Purple) Major support at $9,052.56 (Blue)
Opening price: $9,341.08
I’m going to simplify the way I do trading. Whilst I will still continue to use this TradingView chart for reference I will be relying on using MA (Moving Averages) lines instead.
This will be my last update on this post today. I will start a new one that will replace this as a ‘sticky’ topic. Since the beginning of the Coronavirus lockdown I have been using the much more simplified MA lines. This is mainly because I haven’t had as much time to monitor every move of Bitcoin due to other commitments.
I have found this new strategy to be highly effective without being so time consuming, and as a plus for anyone following this, it will be easier for everyone to follow.
I will still be looking for trends using my full TA but will only publish my TradingView chart when it is really required.
So, for the last time for a little while here is my TradingView analysis:
If you’re new to crypto and understand how big Bitcoin (BTC) now is, and more importantly how expensive it is to buy just 1 Bitcoin (of course we’re all in it for the technology, hmm), then you are sure to of heard of XRP and Ripple.
I’m just going to pause here really quickly to explain why I keep using 2 different names for the same coin.