BITCOIN TECHINAL ANALYSIS :15/03/2018
So lots of people sending me messages about trade setups or where to buy or when to buy, the most common questions are will it go down further? or how much further it will go down? Well nobody knows these answer because in cryptocurrency trading it is not just about technicals,its about unannounced high impact news which can turn market into any direction mostly down these days. So the question is how can we trade? Well people trade according to their rules and system and i trade according to mine which is a high probability system and more than 85% of time profitable. I am not advising you to trade like this I am not your financial advisor, I am only sharing my system for educational purpose only. So lets start!
The things we can know from #Bitcoin chart is Support and Resistance and trust me these are the only things enough for bitcoin trading. I trade 2 ways one is buying bitcoin from market on every support in percentages like in picture attached, I bought 30% on S1 30% on S2 and rest 40% on S3 if it hits. The interesting part is I buy these positions with the profit I earned selling bitcoin, confusing? well here comes the 2nd way i also trade bitcoin on margin well those who dont know it is simply called margin trading in which we can sell or buy bitcoin at the same time,we need to open an account at a broker, you can google the term margin trading if you want to learn more. So I sell bitcoin when every support broken in this case i sell when S1 breaks and take profit when it reached S2 and from that profit I buy bitcoin (not margin trading) from the market on S2 and further on to the next support. I know its a bit confusing for new comers but please refer to the pictures attached to get a good idea. This is a a simple system I developed for myself according to my rules and it generates amazing results. Please let me know in comments if you dont understand anything. Thanks