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Everything posted by TrendFollower

  1. For some reason Bitcoin Cash is the only Crypto available on IG's platform which is not down and in the 'red'. Now it should decline and join the rest but I do wonder if there is a reason why it has not declined and whether there is further upside with Bitcoin Cash? I do not know but I shall be paying very close attention to the price action to see if can indicate what is happening.
  2. Bitcoin is now trading around $6.9k. I think the pullback will def. take Bitcoin back to $6.6k levels for sure. If it goes below this then $6.1k is on the cards. If this happens then it will be extremely healthy in my personal opinion. There may be a short term 'shorting' opportunity on Bitcoin before the next move upwards which is coming. Bitcoin was valued at $0.07 on August 16, 2010. It is trading near $6,000 right now. That is a staggering return of over 8.5 million percent in less than a decade. There is no other asset or currency which has generated similar returns in the same period from my understanding. If anyone does know of any then please do share with the IG Community.
  3. Bitcoin Cash should see an imminent drop if it follows suit.
  4. It seems Litecoin has encountered resistance at around the $91 and $92 level.
  5. There was a significant drop in the price of Bitcoin and other alt coins and this will have triggered a lot of tight stop losses for any new entrants to the trading opportunity. This is typical of Bitcoin and Alt Coins and is why a lot of traders struggle to trade Cryptos. The volatility is stomach churning. One must either have large capital or wider stop losses. If they have neither then they must day trade as anything else will wipe their capital out.
  6. @Caseynotes, I take your point that it is a lovely set up. There is no question about that, especially if you are day trading. If you are a longer term trader or even a trend follower that trades only certain asset classes then I am not so sure it would be beneficial. Also the brain power and intake of information and data is different for different traders. Some welcome lots of information and data instantaneously. Where as others may struggle with the amount of material to digest. It depends on brain capacity as well. Of course the set up has a lot of advantages but I think to utilise those advantages is more linked to your trading strategy and how much requirement there is than one may think.
  7. There is the potential for a mighty short squeeze when the futures market reopens. There is also be the possibility for new longs to open in the futures market who have missed this large rally over the weekend. The big drop over a few days will come, that I have no doubt about.
  8. Bitcoin Cash is up another staggering 11% this morning. It hit $387.10 and seems on a strong course towards $400+. The $400 - $600 price range is going to be very interesting for Bitcoin Cash. I think for investors and traders to take Bitcoin Cash seriously then it is going to have to move strongly towards this range.
  9. Bitcoin is up another 8% at the time of writing this post. What a weekend. I have stated many times in the past in different threads and posts that Bitcoin and Cryptocurrencies do tend to perform remarkably well in a bull run during weekends. This weekend just helps to support that point. Bitcoin has hit $7577.90. It seems to be heading towards $8276. There is going to be a mighty pullback / correction. The larger the move upwards, the larger the pullback / correction will be.
  10. @MrBridger, May I ask what trading strategy and system requires three 43" 4K monitors and ability to simultaneously have open a minimum of 12 time frame charts across 6 to 10 markets? I am sure it will look lovely and very 'professional'. I am not suggesting it is a bad thing or anything. If your trading system and strategy requires all this then that is absolutely fine. There is nothing wrong with it.
  11. Just look at the 'Rate of Change' since the start of 2019. It is at its highest point this year which bodes very well for a strong upward move. The 'Rate of Change' indicator is an indicator used to measure momentum and boy does Bitcoin have some serious momentum behind it.
  12. Ether hit $200.40 a few minutes ago. The question is whether Ether can stay above $200?
  13. All the Cryptocurrencies available on IG are all above 10% today. Simply amazing and it is something that very few other asset classes can deliver in just one normal day and which happens to be a Saturday!
  14. @dmedin, Day trading must be mastered just like Trend Following, Swing Trading, etc. None of these are easy and they are all incredibly difficult. One must learn the art of trading such methodologies. It takes a lot of time, effort and dedication but it can all be down and there are traders who are very successful at day trading.
  15. Bitcoin is one of the best performing assets in 2019 to date and Cryptocurrencies are probably though I do not know for sure one of the best performing asset classes to date in 2019 when you factor in the likes of Litecoin and Bitcoin Cash, etc. I think this article is rather interesting. Amazing! Bitcoin Is 2019’s Top-Performing Asset, Outpacing Stocks & Oil https://www.ccn.com/surging-bitcoin-2019-best-asset-globally
  16. Bitcoin has just hit $7048.70. Very impressive price behaviour and very quick too! How high it will go on this leg upwards none of us know for sure. It could go as high as $7.3k depending on the extent of the 'short squeeze'.
  17. UK Gov’t-Led Jurisdiction Team to Define Status of Crypto Under English Private Law https://cointelegraph.com/news/uk-govt-led-jurisdiction-team-to-define-status-of-crypto-under-english-private-law
  18. When Bitcoin has finished its current upward drive then it is likely to correct around the $5.8k to $6.6k level. So expect a quick and sharp pullback to these potential levels.
  19. Bitcoin Cash is up nearly 13%. The margin requirements for both Bitcoin Cash and Litecoin are more attractive than some of the other Cryptocurrencies. Especially when taking leverage into account. Some of the best moves seem to happen over the weekend so those who close their positions on Friday to avoid charges and large price swings seem to miss out on some of the biggest gains either on the long side or short.
  20. Litecoin is now up over 15%. The weekend represents a very important time period for Cryptocurrencies in general. Those who close their positions on Friday to avoid charges and large price moves tend to miss out on some of the biggest moves.
  21. Ripple and Stellar are certainly anything but the best performing Cryptocurrencies of 2019 as the title of my thread infers. It seems based on the first five months that Bitcoin, Bitcoin Cash and Litecoin will all outperform Ripple and Stellar. Now there are still another seven months to go but so things could easily change. It seems both Ripple and Stellar are consolidating more strongly (especially Ripple) and their gains will be more slow and steady as the capital if shifting from them to the likes of Bitcoin, Bitcoin Cash, Litecoin, EOS, etc.
  22. Ether hit $195.30 so it is getting very close to this $200 psychological level which I mentioned in my previous post. It is up over 10% at the time of this post and to take Ether seriously we really need to be seeing the $300 - $400 levels again.
  23. Take this article with a 'pinch of salt' but it does make some good points. Don’t sell in May this year – the market is telling you it’s time to be long https://moneyweek.com/506020/dont-sell-in-may-this-year-the-market-says-be-long/ I have never been an advocate of this selling in May and buying in September theory. If you just trade the trends based on price action then quite frankly and bluntly it does not matter what month it is!
  24. Now the question here is whether the S&P 500 presents the potential of a possible shorting opportunity or not? Now it could merely be a pullback / correction before the next leg or there may really be a big short coming. I will be totally honest. I simply do not know. So what does the price action and technicals tell us? The price action is supported by volume (selling) at the chart below highlights. The price is currently trading below the 'Parabolic SAR' which indicates bearish price action and a potential of a trend reversal. I do not think we are quite there yet. I include the chart below to highlight. this. When looking at moving averages on the 'daily' then the price is trading below its 20 DMA and is close to trading below its 50 DMA. It is possible that the price could look to hit its 100 DMA and then 200 DMA which could indicate a possible retrace back to $2800 and $2750 levels. I include the chart below just to highlight this. There may be a more shorter term 'short' opportunity here for the S&P 500 but more longer term I am not so sure yet. There could be a continuation of the rally after this correction.
  25. Yes both Gold and Silver have rallied recently but Silver's chart 'Daily' still looks very bearish to me. Gold's chart fares only slightly better. The drivers that will push prices up on both are 'FEAR' and the online media along with TV and print media are the ones who drive this fear.