Opening with a price GAP and monitoring whether this particular bar would hold as a 'run away price bar' or 'an island /exhaustion bar' where the probability of filling in the gap would be considered after the closing price on a daily session.
On the other hand, regardless of it, the weekly trading sessions will define the actual candle bar interpretation at the closing week of Dec 1 which happens to overlap with the opening price levels for the new month. Something to seriously consider as a chartist or market technician.
Although, this market is momentum driven by the interest in value of bitcoin and the exceptional rally it commands.
Comparative Chart & price update: GBTC BTCUSD ETHUSD
As of US session
Momentum has indeed been the driver on BTCUSD as prices is shy away from the 10k; while GBTC have gotten ahead of the market gap that it is currently at USD1450.00. And not wanting to be left behind is ETHUSD at USD470.00 with a recent high marked at 487.00 as of writing.
Comparative Chart & price update: GBTC BTCUSD ETHUSD
As of US session
GBTC Price Update Above 1200 as of Nov 28, 2017
Trading the Bitcoin market is more focused as an 'Alternative Trade Strategy'.
As it carries a much higher degree of risk due to its volatility and susceptibility
to its current market regulations.
to its current market regulations.
It is well recognize by the Luxembourg Financial Regulator, the Luxembourg Financial Industry Supervisory Commission (known as CSSF)
This market is momentum driven, thus the probability of a continued rise is more likely to prevail over much of the technical. But it is always good to keep both eyes open!
ReplyDeleteDigital Currency has enough fuel to continue its course at the rate prices on the three major instruments. The strategy in place could not have been in a far better position when all these ignited well within the year alone.
ReplyDeleteMomentum has indeed been the driver on BTCUSD as prices is shy away from the 10k; while GBTC have gotten ahead of the market gap that it is currently at USD1450.00. And not wanting to be left behind is ETHUSD at USD470.00 with a recent high marked at 487.00 as of writing.
As a matter of strategy, being able to protect these gains made from an exceptional run with Bitcoin, Ether and GBTC it would wise to start preparing protective strategies in the event that an adverse price fluctuations on these market starts heading south of the border.
ReplyDeleteWe all know , what goes up would certainly go down. With volatile markets, the launching of the CME Bitcoin futures and ETFs, these are excellent alternatives to use a medium for 'hedging' purposes. Although, cashing in a few when its time to do so would not be too bad after all.
And we have to admit that we were fortunate enough to have literally walked though this bull run since establishing our Crypto holdings and ETF as part of our strategic portfolio management. Getting prepared and ready is a very wise consideration.
#BITCOIN Has Made it's Point Very CLEAR ! Price Action on charts speaks louder than words can describe. Wall Street is finally LISTENING...as the BIT-TRIO have shown their TRUE COLORS!
ReplyDeleteCAUTION & WARNING: For traders and investors using LEVERAGE Trading BITCOIN or any related crypto currency with RETAIL brokers. VOLATILITY will always be present with PRICE SWINGS that goes beyond TOLERANCE can be very DANGEROUS even when trailing stops are in place This gives the market every reason to pickup LIMIT orders on both DIRECTIONS.
ReplyDeleteBe SMART and NOT be part of the FOMO crowd at this point of time. The markets will always be there for the taking and AVOID the PIT-FALLS that others have already made. These markets are NOT for everyone PERIOD!