It looks like 200.00 level is good for fixing profit. If so, we should be ready to see a correction movement from this level to one of the possible support zones. The market is overbought on different time frames. RSI is going to reverse in the overbought zone and it will give us a bearish signal. MACD is bullish but if the market stay below 200.00, we'll also get a bearish signal from this indicator. The market made a great upward movement and it must be corrected. We need new buy opportunities in order to join to this strong uptrend on good levels. If the market starts falling, we must be ready to buy based on confirmed reversal signals. The 4H chart gives us 3 reversal zones formed by SMA20, SMA50, SMA100 and support levels. These zones will be able to stop and reverse the falling market. The zone formed by SMA100 and 100.00 support level will be the perfect for buying. From the daily chart this zone is supported by SMA20. It's also a good variant to build long positions on different levels. You can keep the previous long positions and add more trade volume based on new reversal signals. Other variant can be to fix the part of profit from the long positions at 200.00 level and open new trades based on new trading signals. Which variant to use, it depends on your goals and trading plans for this market.
P.S. Don't forget to make your own research before doing something with your open trades.
評論
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The price breaks 200.00 level by a strong bullish candle. Probably 250.00 level will be reached very quickly )
These technicals make a lot of sense, however, at current I do not think the fundamentals should be ignored. There is a lot of new money flowing into the market. Not just from wall street, but from main street as well. Bitcoin is making the nightly news. Coinbase is the top free app in the app store and it's pairs are soaring. People are selling their houses and assets to buy in. Family members who can barely use computers are texting me asking what Bitcoin is. Most new people coming in are not professional traders and they're going to buy and hold because they see how the percentage gains have skyrocketed across the board. A swing trader should be very cautious about shorting this market right now. I think a lot of people are seeing Litecoin as a cheap buy. I would let prices move sideways (especially if you've been in for a while) and find new lows and highs before developing a serious technical strategy. Then again, everyone could cash out and buy lambos for Christmas. I guess we'll see.
@easye12, the article is from 1996, and the market gone up for another 4 years before a correction, but from 1996 to 2017 S&P goes from 600 to 2700. The shoeshine was right!
James_D
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@easye12, I definitely think most coins are in a bubble. I believe it will be the ones with the most use cases, adoption and scalability that survive. Governments that try to shut them down will be shooting themselves in the foot. The blockchain is the next step in human innovation and countries that ignore it will be at a disadvantage. To go off on a major tangent (advanced apologies), how do you think transactions will be done once we have a colony in space? Do you think people will take paper money to a civilian space station or Mars?
You don't have to cash out, just set realistic stop orders.
iterius
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@James_D, Cryptotrading is a zero-sum game. If someone wins, others will lose (their hard-earned money, most likely). The rich will become richer, the poor will become poorer. Stop that rubbish.
Attaman
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Lavrov, skol'ko smotriu vashi prognozi. Kajdii raz ponimaju chto nado delat' vse s tochnost'ju naoborot. Vchera derjal LTC so 160$ , slil ego na 200$ . Kakogo bilo moe razocharovanie kogda on doshel do 240$ bukval'no za pawqru chasov
RonVS
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@Attaman, a svoi mozgi vklyuchat' ne probovali? Ispolzuyte trailing-stop, esli hotite lovit' takie dvizheniya. Ofigevayu, esche kakie-to pretenzii vyistavlyayut cheloveku za signalyi.
LKD
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@RonVS, which exchange offers trading with trailing stop? kraken had it at one stage but not available any longer. spasibo
RonVS
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@LKD, There is a trailing stop on bitfinex. Also on many exchange is provided API, you can develop or buy software to use any strategy (for simple example, as a trailing stop on the basis of moving averages).
LKD
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@RonVS, I am not a programmer at all. do you mind to explain me how developed code or a purchased software will be linked to the exchange platform platform. is it difficult to build it? which software you would recommend to buy ?