First ever Binance Bitcoin warning received.

Binance Warning - Volatility Alert
Binance notifications are not normally like this. You know the market is moving quickly when you receive warnings.

Binance Bitcoin warning sent to my mobile phone early this morning. To me this is a very professional approach by a responsible cryptocurrency exchange. Especially since this market is completely unregulated.

Cryptocurrency exchanges, like Binance, do not have to issue a Bitcoin warning at all and to be honest it probably isn’t in their best interest to do so short-term. The market moving is how they make money.

Long-term for loyalty though from a customer/traders point of view this is certainly welcome.

Continue reading “First ever Binance Bitcoin warning received.”

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”

Daily Bitcoin Analysis – Using Support and Resistance

My daily Bitcoin analysis – Let’s see if I can actually get this right!

Update: I will not be adding any more daily analysis using only support and resistance to this post. I have started another post, which can be found at the top of the blog. Whilst I will be using support and resistance with my TA I will now mainly be using Moving Averages.

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.

Monday 15/06/20

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:

** Click on image to expand **

Daily Bitcoin chart for the 15th June 2020
Bitcoin has completed a full 5 Elliott Wave up. Will lower support now be reached at $9,052.56?

Previous day’s predictions:

Continue reading “Daily Bitcoin Analysis – Using Support and Resistance”