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TrendFollower

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Everything posted by TrendFollower

  1. Litecoin is above 21% at the time of this post. It has just got stronger and stronger throughout the day. What will be interesting is what happens when markets in Asia open? I would not be surprised to see Litecoin hitting the psychological $100 mark in the coming weeks and months.
  2. @cryptotrader, Yes in a sense they are random numbers as you can choose which ever time period you like depending on your investment or trading style and strategy. If one wanted to look at stronger trends over a longer time period then one could look at longer time period moving averages. The most common ones are the 20, 50, 100 and 200 DMA's which I tend to use for trading. Bitcoin is an interesting one as it is one of the rare occasions where I have invested in it and trade it. I have discussed this before on this thread so will not repeat my rationale. When it comes to Cryptocurrencies which in my opinion are one of the highest risk assets to invest and trade in then there are times when more robust indicators and criteria may be required. Hence why I begin to use 500 DMA's plus. Remember Bitcoin is over 10 years old. So we can look at price behaviour and longer term trend and the fact is that over this 10 year period Bitcoin is in a long term upward trend. I recall when Bitcoin was less than $30 and when it was less than $100. So how do I use it? Let me explain though different investors / traders can use if differently. Using more longer term moving averages helps especially when already in a position to confirm the long term bullishness and strength of the trend. So a bullish more longer term trend indicator could be when the 200 DMA crosses the 500 DMA to the upside. Or when the 200 DMA crosses the 900 DMA to the upside. This would show a longer term trend merging with a short time period trend which in my opinion would be a positive indicator. The key thing to remember is that on the chart I posted for Bitcoin, the 500, 600, 700 and 800 DMA's are in sight. Bitcoin hit $5102 today so it is not a million miles away from those longer term moving averages. If it were to hit them then that in my opinion would be extremely bullish and positive for Bitcoin. Longer term investors even look at the 1000 DMA when reviewing their investments. Now when you start overlaying the short term moving averages with the longer term moving averages you can sometimes spot price points which may prove difficult to cross (so resistance at certain price points). When I am investing / trading strong trends then I do not have time limits. I am in positions for as long as the trend lasts in that direction. Along the way I want to see if the price is still strong and on course during its journey and I find looking at longer time period moving averages useful. I accept this will be of little use to day traders, short term traders and even medium term traders. This is for those long term trends and longer time period positions whether they be investments or trades. Also it helps when trying to decide whether to add to positions on longer term trends. There is one important point I must make. Using moving averages by themselves does not guarantee anything. There is mean reversion after all to consider. It must be used along with other indicators to help make an informed trading decision at that time. It can merely help to increase the odds but does not guarantee any success in the trade. Using longer term moving averages does not change the price action or enable you to predict the price action. One could argue that it offers little benefit and to be fair they could have a point. I use it for Bitcoin as it is in a longer term upward trend but is also extremely volatile and very high risk. @cryptotrader, do you not think if Bitcoin surpassed its 500, 600, 700 and 800 DMA's then it would present a more bullish case for Bitcoin going forwards? Would it not demonstrate a stronger long term trend?
  3. Bitcoin Cash is up over 30% now is leaving the rest for dust today. I thought I would try and carry out some quick research to try and establish why Bitcoin Cash is performing so much more better than Bitcoin or Litecoin. I found the following article: Bitcoin Cash Is More Widely Accepted Than Bitcoin In Japan, Why It Doesn’t Matter https://www.newsbtc.com/2019/04/02/bitcoin-cash-is-more-widely-accepted-than-bitcoin-in-japan-why-it-doesnt-matter/
  4. I fully expect a large dose of profit taking as traders will be extremely weary of losing any substantial gains made on Bitcoin. I am now going to show the same 'daily' chart as above but this time including 500, 600, 700 and 800 DMA's. As you will see this will provide a pathway for Bitcoin to attempt to travel to its destination. It is about to get very interesting for Bitcoin. The possibility of another downward move is still ever present as this is Bitcoin after all. However if if begins to surpass and stay above its 500, 600, 700 and 800 DMA's then it could present a more bullish case for Bitcoin going forwards.
  5. What is interesting about both Ripple and Stellar is that both are trading above its 20, 50 and 100 DMA's but neither of them are trading above its 200 DMA's. This means one of two things. Either there is going to be some serious catching up to do from Ripple and Stellar in the short term which could see staggering gains. Or they are weaker than the other Cryptos which are currently trading above their 200 DMA's which could indicate a weakness and possible bearish action. I do not know which but it is fascinating to monitor and see what happens. I shall include the charts for both to illustrate the point I have made.
  6. Litecoin is up over 17% which is 11 hours after I posted the above very early in the morning. I want to show you the following 'daily' chart and how the price is above its 20, 50, 100 and 200 DMA's. Not just that but how none of the moving averages curves are sloping downwards. This is a bullish sign to me that the trend is changing over a more longer time period. Also we are seeing 'Higher Highs' and 'Higher Lows' formed which again is another bullish indicator. For those who have been trading Litecoin on the upside will agree that it has been a great 'long' trade from around the middle of December 2018 till date.
  7. Bitcoin Cash is up 22% just 11 hours after I posting early this morning. Now add leverage to the mix and one can begin to see how lucrative trades in Cryptocurrencies can be. This is even after any overnight charges and ridiculous spreads. If one forgets whether they believe in Cryptocurrencies or not and just treat it as an asset which you can trade based on price action rather than any fundamental flaws the specific Cryptocurrency may have then it does open up a whole new arena of trading for those who have a higher risk appetite and are more aggressive traders. Bitcoin Cash is outperforming all the other Cryptocurrencies at around 5:00 pm that are available on IG's platform.
  8. A lot of people are messaging me asking if I think that Bitcoin has bottomed. The simple answer is that I do not know at this moment in time. Cryptocurrencies can look like they are on a bull run and entice traders in and then boom, it drops! Stop losses are very tricky as if they are too tight then the volatility will just stop traders out. A high risk tolerance is necessary to trade Bitcoin and other Cryptocurrencies. One important factor today is that from the 'daily' it is crossed its 200 DMA. This is a positive sign. It does not mean that Bitcoin will just keep going up. There will be a lot of speculative capital and short term profit taking which will mean large drop along the way even if we are about to witness an upward and bullish trend.
  9. @andysinclair, That is interesting though these figures can change very quickly. As long as it does not get to 100%. LOL.
  10. I thought it was a good time to start a completely new thread in relation to the next phase after Blockchain and Cryptocurrencies. This next phase is tokenisation. I include some links below which will help those who are not too familiar with the concept. Tokenomics https://decryptmedia.com/resources/tokenomics Tokenomics - A Business Guide to Token Usage, Utility and Value https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416 Token Economy https://tokeneconomy.co EToro Acquires Firmo With A Plan To “Tokenize All Assets On EToro” https://thetokenist.io/etoro-acquires-firmo-with-a-plan-to-tokenize-all-assets-on-etoro/ The above is a very good example of IG's competitor trying to steal a march on its rival and be proactive.
  11. Please see the link below for the latest position in terms of market cap for Cryptocurrencies. https://coinmarketcap.com
  12. I thought this article was particularly relevant to this specific thread. A Brief History of the SEC’s Reviews of Bitcoin ETF Proposals https://cointelegraph.com/news/a-brief-history-of-the-secs-reviews-of-bitcoin-etf-proposals
  13. Report: China Leading World in Blockchain Projects https://cointelegraph.com/news/report-china-leading-world-in-blockchain-projects
  14. Let’s get it down to 50%. That would be a great result and improvement. Does anyone know how other CFD and Spreadbetting platforms fare?
  15. Impressive price action this morning from Bitcoin. Hit $5102 and up over 13% right now though was even higher.
  16. Right now both Litecoin and Bitcoin Cash are performing better than Stellar and Ripple. We have finished Q1 and the price action is there for all to see. There are still another 3Q's to go so it will be interesting to see which Cryptocurrency that IG offers on its platform is the best performing by the end of 2019. The returns are there on Cryptocurrencies if one puts any bias towards the sector and personal opinion to one side and just focus on price action. Forget whether it is junk or whether it will succeed or not to one side. If one just focuses on the price action then even with the poor spreads and margin requirements there is still money to be made on this asset class when they are trending upwards.
  17. There was a lot of people within the IG Community who felt that Blockchain was just a fad and there were no real life problems which it could solve and it would just fade away. Blockchain is still here and is gaining more and more traction. Yes the uptake is very slow but it is still here and getting stronger with tokenisation coming to the fore. Below is a rather interesting section from Goldman Sachs - Blockchain: The New Technology of Trust https://www.goldmansachs.com/insights/pages/blockchain/ It is not just Goldman Sachs but IBM, Facebook, Amazon, etc. They are all focussing on Blockchain and looking at ways to integrate it into their business. Once they do then the smaller companies will follow. This will take many years but there is going to be a lot of growth within the Blockchain sector in my personal opinion.
  18. Bitcoin Cash is up nearly 7% this morning at around 5:43 am. It is in the leading pack with Litecoin, Bitcoin and then itself.
  19. Litecoin is continuing its impressive upward move. Of all the Cryptocurrencies on offer through IG's platform it is only behind Bitcoin this morning around 5:40 am. I stand corrected. In real time it is up a staggering 9% and now performing higher than Bitcoin and is the best performing Cryptocurrencies at 5:42 am.
  20. It is 5:37 am and Bitcoin is up nearly 8% and around 320 points and rising. It is at $4470 and smashed what target I had in mind. It seems around the level I was referring to has attracted a lot of buying both before the price in anticipation and certainly after crossing the price.
  21. $4225.94 level is getting closer for Bitcoin. The fact that it has remained above $4000 is very encouraging and bullish. It is still early days but I am liking this slower and more solid upward trajectory rather than the rocket launcher style that led to an 80% crash from its all time high.
  22. @OSCARDAX, First of all, I have no idea who you are. I could give you any made up figure, what does that mean? How can you confirm any accuracy or credibility of any figures I give? You cannot. The 12.3% figure you have given is totally meaningless as there is no way I can quantify that you make that per annum. Therefore it is utterly pointless. I do not wish to disclose that material not just to you but anyone here on the IG Community. That is my personal decision. I have never asked anyone what returns they make per annum as that is a personal question and personal information. Also your 12.3% returns are relating to which investment or trading strategy? Does it relate to trend following, scalping, swing trading, etc? Over how many years? Are you making 12.3% every year for the last twenty years or is that over the past one or two years? Why do you want to know my returns per annum? I don't want to know your returns or anyone else returns on the IG Community. If it makes you feel better, my returns per annum are 0.1% per annum. That is the best answer you will get from me. Or better still my returns are (minus) -99.9% per annum.
  23. May I ask why you think it is going to bump very high at the end of 2019? I do not know if you are right or wrong but would be interested in your views as to why you think this.
  24. Bitcoin Price Posts Biggest Quarterly Gain Since Late 2017 https://www.coindesk.com/bitcoin-price-posts-biggest-quarterly-gain-since-late-2017
  25. Up 100%: Litecoin Price Sets Q1 Performance Record https://www.coindesk.com/up-100-litecoin-price-sets-q1-performance-record This article illustrates nicely how traders can make a relatively nice profit using leverage within reasonably short timescale on Cryptocurrencies.
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