Rules for weekly income (crypto)

[Munted]

If you have money in exchange or bank fiat, it may be sensible to keep it there.

Old wives's tale re the traditional markets. "Sell in May, keep away". May have some statistical inheritance?

In which case, I am inclined to double down on the above advice.

Have some time out.

[PlanK]

Korean exchange got raided by authorities.

Prices dump. TA can't predict this. How do you work this into your trading scheme?

[Munted]

TA can't predict this

Anybody who knows anything about TA will tell you that TA is not predictive. It can claim to give to the speculator a statistical edge.

For instance the past few days I have not been bullish on BTC. You can see that for yourself.

And I did take my own advice and got back into fiat back then.

Which without TA I would never had done.

[Munted]

There is now an alternative...

[Munted]

20:00 UTC: Chart moves are made from the inside to the outside, so today will look at BTC on the 1 hr chart.

Support has been found at the $8280 or thereabouts price. But not convinced.

Even after a vigorous day of trading, the 40 SMA has not been breached. Any plans to bet the house would be best delayed.

Additionally, our market sentiment indicator, the Bullish Engulfing candle, is still not producing candles at the appropriate places.
However, there is definitely a momentum towards that happy place.

So it is not all doom and gloom.

[Munted]

BTC having trouble breaking the 40 SMA, 1 hr chart




Headlines to note:


"Consensus 2018 Will be the Next Big Catalyst for Bitcoin, Analyst Says"
" UpBit Fraud A Crypto Sell Trigger"

As mentioned above, Consensus will pump the price. Additionally, the UpBit fraud has loosened a lot of money. This money will not be lost to fiat, rather the vast majority is expected to be re-invested into other crypto exchanges. Unfortunately, some quite onerous KYC (Know Your Customer) regulations required by the more established exchanges will cause this re-investment to be delayed somewhat.

[Munted]

BTC. Equilibrium wedge. Equal chance of upside, or downside movement.

[Munted]

Not there yet.

[Munted]

Not quite ready yet, but anticipate making the week's rent very soon.

[Farangrakthai]

Equal chance of upside, or downside movement.

nice charts, but would be better with btc price on them.

Not quite ready yet, but anticipate making the week's rent very soon.

when btc ecounters a symmetric triangle (upper and lower trend lines meet to make a triangle), it usually breaks down from what i've see this year.

the bulls usually don't have the balls to push it higher and they wait for a strong support line to be formed at a lower level.

so, wouldn't count on that rent money yet, munted.

;-)

[Munted]

OK here's the rulz. Next green candle (no lower wick extending into 40 SMA) you then put enough on to cover your week's rent.

Me - I would put 10k on this and sell after 3% ride.

But if you are Mr B, you might like to put 5%

However as I am old f**ker and don't have a lot of breathing time left I value my time getting pissed and snoring my face off.

So must retire now to bed.

Good luck, You know the rulz, set your stop loss at 2% in case it all turns to custard.

[Farangrakthai]

BTC:



btc's looking good on the 30 day chart (up 9%).

besides that, it's still down 57% from it's all time high in december and will have to rise 129% to reach that high again.

30 day chart:



7 month chart:

[Munted]

besides that, it's still down 57% from it's all time high in december and will have to rise 129% to reach that high again.

True, hope you haven't been hodling all that time but if you have, more easier on the nerves, I suppose.

[Munted]

20:00 UTC: BTC steadily increasing, let's hope it doesn't run out of steam. The next challenge will be the resistance level of 9k or thereabouts.
It might be a good plan to get out around 8.9k and then wait it out until 9k is confirmed as a support.
It is not a matter of if, just when.

Got some bullish engulfing hits today, so market sentiment is looking up. As always, due diligence required.

[PlanK]

Consensus, biggest blockchain conference of the year, is next week.

Traditionally it spikes then retraces.

Spike is definitely on.

[cyrille]

btc's looking good on the 30 day chart (up 9%).

besides that, it's still down 57% from it's all time high in december and will have to rise 129% to reach that high again.

True, hope you haven't been hodling all that time but if you have, more easier on the nerves, I suppose.

Nice bit of patronising oneupmanship there.

Bravo.

[Farangrakthai]

and every thread seemingly needs cyrille's trademarked petty snideness.

[Munted]

20:00 UTC: Looking like Consensus 2018 is having it's desired effect. Make hay while you can. Let's hope for something more longer lasting than a quick pump.

Unfortunately, no hits on the Bullish Engulfing indicator today, I sincerely hope that is not what I usually take it to be.

On the positive side, I was a little disappointed not to have been able to follow my own advice as posted in detail earlier and put 10k on BTC one day and four hours ago.

Here's a screen shot of your profit if you had have gone ahead.



Not too shabby for one day and 4 hours 'work'. 9255 THB.
Back in the day would've been good enough for a months rent. With change for a little bit of extracurricular.

[Farangrakthai]

it's interesting to read your analysis, munted and i replied to it on the btc thread as it doesn't seem necessary to have more than one btc thread.

well, it made it up to 8,700 and then fell 300 points.

still getting those "bullish engulfing hits"?

;-)

BTC 24 hour chart:

anyways, it's all a bunch of nonsense, if you don't actually post in real time when you enter the market and your price points for target sell and stop loss.

Here's a screen shot of your profit if you had have gone ahead.

what board are you trading on? btc never hit your target (posted after the fact) of 8808. it hit 8750 and then fell to 8405.

or your original target of 8900:

It might be a good plan to get out around 8.9k

set your stop loss at 2%

stop loss at 3% on the trade you wish you made?



anyways, good stuff, munted.

though, looking forward to you posting your trades in real time on the btc thread like luigi and others have done.

[Farangrakthai]

and, cheers for the excel sheet:

https://nofile.io/f/qaaej9UeZzc

[Munted]

anyways, it's all a bunch of nonsense, if you don't actually post in real time when you enter the market and your price points for target sell and stop loss.

Have a look at the top left hand corner of the post. That is the real time .

what board are you trading on? btc never hit your target (posted after the fact) of 8808. it hit 8750 and then fell to 8405.

What chart are you looking at? XBTUSD 4 hr chart clearly shows the entry and exit (white lines).

[Farangrakthai]

That is the real time .

i mean when you enter the market, post it in real time on the thread (the price you bought at and the target price).

you have yet to do that which means all your "bullish engulfing hits" are just for show.

;-)

I was a little disappointed not to have been able to follow my own advice

[Munted]

stop loss at 3% on the trade you wish you made?

Also the bottom white line is the stop-loss. This was set to an alert in trading view.

[Farangrakthai]

what exchange are you trading on?

[Munted]

i mean when you enter the market, post it in real time on the thread (the price you bought at and the target price).

No, I did not buy in at that time, as I did not want to wait all night for a confirmation candle.

If you went in at the time of the confirmation candle you would have got the trade. As explained in post #59.

Go back and see the action as it occurred. The candles do not tell a lie.