Bitcoin Trading Analysis By The Silver Fox

As of the writing of this post, cryptocurrency in general, is in a correction from the BULL run in the last few weeks.  Bitcoin had a drastic uptick to around $19,000 in a matter of days from $10,000 so it’s no surprise it’s in free fall heading back to $12,000 / $10,000.

The majority of the other altcoins are following Bitcoin’s slide which does offer profit opportunities for short-term trades. If you are a investor/trader who is in it for the long-run, this slide may be an opportunity to buy. Before doing so, make sure you know when to get in by reading the charts of the altcoin(s) you want to own. Do NOT buy just because the coin seems to be a good deal at it’s present price, compared to it’s recent high, as it could actually go lower.

Take Bitcoin for example: Examining the Bitcoin charts in the notes below, you will see 12k is a critical price where Bitcoin could either bounce with HIGH volume, or keep trending down to 10k with LOW volume. If you are a long-term investor, DO NOT INVEST until you see the price of Bitcoin CHANNEL (go side ways) between 12k & 10k for a day or so, then break the 200 Day Moving Average (SMA).

With the major validity of cryptocurrency at this time, there are some great short-term profit opportunities. If you are a short-term investor, (hours to days) I would suggest you consider the other altcoins, such as #BCC, #QTUM, #Waves, #Strat, Etc. Before you jump in and buy blindly, I suggest you learn how to READ CHARTS and join a Trading Signals Group for support.

To Your Trading Success,

Harvey The Silver Fox

 

Here are some of the notes from our Crypto Signals Private trading group 12.22.17…

Will see if BTC bounces at 12k, if not there will be a short in with a target of 10k

margincall 12:19 AM

Will see if BTC bounces at 12k, if not there will be a short in with a target of 10k

margincall 12:46 AM

Most of the crypto is following BTC, which is quite natural and what we expected.

margincall 12:48 AM

I do however believe this will give us a great indication of what current markets are valued at.

margincall 12:51 AM

Please feel free to ask me any questions you may have

jrharte 1:27 AM

Everything dropping fiat value but sat value is kinda holding up for the moment

margincall 1:35 AM

Yep that is how it goes, we are stable vs btc but falling alongside in fiat value, quite normal actually

Benderke 1:36 AM

What do you expect to happen with BTC today and the next saus?

margincall 1:36 AM

Corrections are healthy

Benderke 1:36 AM

Days*

margincall 1:36 AM

If 12k fails we are going to see more blood

1:37 AM

I will take a look at the charts

1:37 AM

Click Here To See Chart

1:39 AM

At the moment we are battling on the 200sma (simple moving average), should it fail we will test the previous top channel again, indicated by the green line, if that fails, my guess is that 10k will come pretty swiftly

1:39 AM

RSI is indicating oversold conditions, which could signal the bulls to jump back in, however if the buyers don’t come it will just stay in oversold territory while prices drop

1:40 AM

Click Here To See Chart

1:41 AM

On the day chart you can see there is a massive amount of selling pressure on the market and we must be patient to see what happens next

1:41 AM

This is still just a correction in my mind, we went up pretty fast, so this is very healthy for the market

margincall 2:10 AM

Click Here To See Chart

2:12 AM

On the weekly candles we can see what is arguably one of the most bearish signals you can find. Should the price close below 15400 by the end of this week it would be my advice to look towards FIAT and other Crypto’s for speculation into 2018.

2:13 AM

Should we close below 15400 this week I am calling the BTC run over

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