Since publishing the final buying and selling journal two weeks in the past, I’ve made various altcoin trades however not a single Bitcoin (BTC) commerce aside from closing my lengthy from $6,900 in segments between $7,550 and $7,700. At present, I’m buying and selling Matic Community (MATIC), WePower (WPR), Zilliqa (ZIL), Verge (XVG), Fantom (FTM) and ChainLink (LINK). Within the final journal, I detailed a 2% positional loss on my REN commerce which had an entry at .00000603 Satoshis (sats) and closed at .00000590 (sats).
I made a 14% achieve buying and selling DOCK, 32% on Concord (ONE), 39% on Fetch.AI (FET), and I closed the final portion of my VET commerce for over 100%. I must also point out that I broke even on my ArpaChain (ARPA) commerce as I used to be stopped out at entry. Evidently, it’s been an unbelievable two weeks of buying and selling!
Closing the Bitcoin place
BTC/USD month-to-month chart. Supply: TradingView
I had been targeted on Bitcoin’s month-to-month chart and hoped for a detailed above the important thing $7,777 assist to sign that additional value appreciation was seemingly. That is the place I closed a lot of my place from $6,900.
It was to not be, though value did handle to interrupt the road briefly on smaller time frames. The month-to-month candle closed at roughly $7,550, which is the place I exited the rest of the place as I considered the shut under $7,777 as a assist break.
For now, I will likely be watching the aforementioned degree to see if it flips to assist and I may even watch the decrease degree at $6,540 to see if it holds as assist. This may be quite simple from a macro perspective. My resolution to shut the commerce at a median value of $7,625 secured a 10.5% achieve on the place.
MATIC/BTC
Entry: .00000348 (sats)
Targets: .00000447 (sats), .00000573 (sats)
Cease loss: .00000336 (sats)
Threat / reward: Goal 1 = 8.25, Goal 2 = 18.75
Entry Concept
I’ve been watching MATIC ascend for weeks, lacking a number of entries by a couple of sats at every degree of assist. Whereas the preliminary concept is posted under, I missed entries at each .00000212 (sats) and .00000279 (sats).
My late entry was dangerous as the worth had already gone parabolic, however I used to be prepared to take a place in case the worth continued to all-time highs. I entered on the retest of resistance as assist at .00000348 (sats).
MATIC/BTC day by day chart. Supply: TradingView
How did it work out?
MATIC/BTC day by day chart. Supply: TradingView
I closed nearly all of the place at .00000460 (sats) for a 32.1% achieve. I left the rest of the place in play simply in case Matic takes a shot on the all-time excessive and doubtlessly past.
LINK/USD
LINK/USD Day by day Chart. Supply: TradingView
This tweet marks the start of a protracted thread of study on LINK versus USD. This was one of many clearest quick setups that I’ve seen in a very long time, which has adopted by way of near the evaluation that I supplied.
I don’t have the flexibility to quick altcoins, so this isn’t a commerce that I used to be capable of take. Nevertheless, the worth lastly reached the underside of the anticipated transfer, so I purchased LINK searching for the worth to understand.
ZIL/BTC
ZIL/BTC Day by day Chart. Supply: TradingView
It is a quite simple setup that I intend to watch to find out my exit factors, though the black strains on the chart under are stable reference factors. I entered at .00000075 (sats) on the break of the foremost descending line, which alerts a break of the downtrend that ZIL has been experiencing for all of 2019.
When the flip of the .00000078 (sats) assist occurred this was the primary signal that I used to be searching for and a inexperienced gentle that additional value appreciation may happen. Because of this, I entered a place and can element the outcomes of the commerce in my subsequent journal entry.
The views and opinions expressed listed here are solely these of the (@scottmelker) and don’t essentially mirror the views of Cointelegraph. Each funding and buying and selling transfer entails threat. You must conduct your individual analysis when making a call.
