Hi guys I don't have time to make video today, I am going in a little boat trip soon, but I wanted to quickly share this video I came across yesterday.
I made a post recently explaining why it is not profitable to trade alts against USD & why is best to trade only against BTC, people still seem to not get it. In this video, the guy explains it better than I can using visuals. He also talks about the Bitcoin current volatility.
I personally have no interest in BTC going down, I said it before, I prefer to trade uptrends than to short downtrends, it is just so much easier because you can do it straight from the crypto exchange without needing a separate account & also going long is a little less risky than shorting. But realistically, you cannot ignore all the signs screaming bear market ahead.
I mean, looking at the volume on the daily & weekly chart you can see how price goes up like crazy but volume is flat or even downtrending. Volume precedes price & this is a strong sign there will be a downtrend ahead. It doesn't mean it has to happen today or tomorrow, this can still go up a little more, the $4800 level is possible, but in general it doesn't look like BTC is going to continue to go up like crazy for much longer. We are so far from moving averages in the weekly chart & at some point we will have to go down to bounce on them, so the further we get the bigger the fall will be.
Here I leave the video & I'm out for today!
Happy trading & happy blogging xx
Gracias por compartir el Canal de este chico. Ya me suscribí.
Se echó de menos tu video de ayer, by the way ;)
PD: Nuestro gallo está despertando. Ojalá podamos tener 2 Bitcoins a $5000 USD cada uno y en noviembre, quizás un tercero...
We´ll see...
Saludos.
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Ayer estuve de viaje, me acabo de despertar y he visto que me llego la alarma para BCH. voy a hacer video en un rato ;)
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Big fan of Carter's daily video's!
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Thanks for the update once again!
Dobe i wonder what you think about my technical analysis of dash. Am really new to this stuff . So all the comments you have would be really appreciated.
You once said:
For a good trade you need at least 3 indicators that tell you the chart will move upwards.
I think dash at the moment has a few. First it is moving in a uptrend. Second it is close but above both 20 and 50 day moving averages. The rsi doesn't conclude it is overbought. Neither does it say it is oversold. Volume is steadily growing what indicates the bulls are at the door. Furthermore you see a cup and handle pattern forming.
Happy boat tripping!
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I don't like dash and I don't think it is in an uptrend. It's making lower lows and highs.I think it will fail when it gets to the resistance line from the previous two tops on that chart.
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Not dobe4ever but you're using the Fibonacci tool wrong mate :) you should use it only on the longer timeframe (1D) chart and over long period of time, same for the risk/reward tool. Hope this helps.
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does veritaseum look like a reasonable bottom? You can't really chart it outside of the marketcap website as far as I know so it's hard to do.
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careful investing in Vaeritasium mate, the volume is really thin because it's only traded on a few minor exchanges, also the project looks really dodgy imo :)
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Agree with you, most people are only looking at Coinmarket cap's dollar charts and making trading decisions based on that regardless of where an altcoin is at BTC wise.
Also, looks like we're blogging about the same thing, come have a look at my content @tradealert, we're doing pretty well over here :)
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