BITCOIN about to make a pass at 100.

Dec 5

https://www.tradingview.com/x/qJZLN4yz/

So bitcoin has been retracing back to a Top 2 and well it looks like it might be on a mission to break 100 this time around.

I think a few traders including myself making emotional decisions to help it get through this time, I was temped to buy it again about 200 points down only a few hours ago.

It sort of makes sense that this could be the time to crack 100 for BTCUSD because many of the TOP 10 CRYPTO'S like King-giant XRP have been coming off price the last day or 2 following their massive breakouts, TRON I think is still rallying and breaking out. DOGEUSD has pulled back somewhat, I have noticed DOGEUSD lacks liquidity on the Sell-side sometimes, not enough buyers but I guess that would be mostly on weekends and during the Asia sessions.

What happens to price once it bursts through 100?

Most breakouts will run for a while, but often price will pullback to retest the breakout price region of 100, in other words its a retest to see how much trader-money is hanging around that level in additional Buy-orders. That's why I am a fan of Fibonacci-trading because following a strong breakout in price, the instrument will usually fall-back in a slow and easy Fibonacci retracement which can get you into the trade at a deep pullback level which is even a lower level in terms of price than many of the traders who quickly casted market-buy orders at Bitcoin's breakout near 100, the thing is theres usually a lot of slippage in market buy-price, brokers need a thumb in the profits pie as well at breakouts and financial news influencing price.

I don't think you can do any wrong in buying Bitcoin around 100. In 3 more months at end of ?February I think its price will be more like 300.

But my number 1 tip in making money from Crypto is to accrue positions in TRON TRXUSD and the-King, Tron is my close second, the-King is XRPUSD, never buy more than 50 at at time is my rule now for XRPUSD because a quantity of 50 on a margin of 1:20 (my margin account) costs about 10K AUD in Margin. Here is something you won't here from other traders, I would not use Stop Losses with XRPUSD because it covers chart-ground very fast when it want to and your buy-order will trigger and then your stop loss 15 seconds later. If you would prefer to trade only with Stop-losses well I would recommend you trade something else, especially if your buy-order is triggered from a very deep retracement because channces are will. be looking to move much lower searching liquidity.

XRPUSD has a current price of 2.38. It was less than a dollar only recently. This is gonna get fatter and fatter and $10 here we come.

Dec 5

Trade active

Fib levels here. 100.2 might be the best buy price just under 38.2%.
Stop I don't use, only mental's, but I would say you have to go back to 98500 to be safe.
TP: 150,000 sell half, accrue more, and ride the wave.

Dec 5

Note

I don't think you can do any wrong in buying Bitcoin around 100. In 3 more months at end of February I think its price will be more like 300.

But my number 1 tip in making money from Crypto is to accrue positions in TRON TRXUSD and the-King, Tron is my close second, the-King is XRPUSD, never buy more than 50 at at time is my rule now for XRPUSD because a quantity of 50 on a margin of 1:20 (my margin account) costs about 10K AUD in Margin. Here is something you won't here from other traders, I would not use Stop Losses with XRPUSD because it covers chart-ground very fast when it want to and your buy-order will trigger and then your stop loss 15 seconds later. If you would prefer to trade only with Stop-losses well I would recommend you trade something else, especially if your buy-order is triggered from a very deep retracement because chances are XRP will be looking to move much lower searching liquidity.

XRPUSD has a current price of 2.38. It was less than a dollar only recently. This is gonna get fatter and fatter and $10 here we come.

Another one which is a tip I made when it was 30 cents is ADAUSD, it often rally's like the others but not as aggressively and certainly stop-losses should be okay with ADAUSD. (I still use a STOP - a mental STOP). I will end trades at first sign they are going against me.

Briefly, 2 others to take a look at are HBARUSD and COMPUSD.
I have all of these Crypto's in my portfolio, as a disclosure. You will see massive breakout rallys in all of these positions.
How did I manage to pull this off?
Okay, one of my trade secrets, I was watching these positions, practically all of them, approach their 200 day moving averages (EMA's I use) but it must be on the Daily chart for most effect. You then wait for further accumulation to occur as other buyers will step in knowing that they have this price protected at its daily 200ema. Following this accumulation usually just a few days later, price will break out in a massive rally as price and buyers have come together at the daily 200ema only recently and its a huge steroid/growth hormone 'hit' for the instrument.

Dec 5

Note

I won't keep a Crypto unless its performing. The test above is a ripper.

Dec 5

Note

I've been away for a couple of hours. Still excited every minute that I was away about Bitcoin jumping over 100,000.
Well it shot up to 104,220 or thereabout in fairly quick time, it retraced not even to the first Fib level, so I thought a lot of buyers here. I will have to check the volume because I would not be surprised that BTCUSD was faking out a bigger pullback, faking it up like its got so much action at the moment from buyers. Bitcoin, fake -fake -fakeout!
If there was so much buying at price very close below these levels then why is Bitcoin retracing slowly backwards and drawing in the other side of this bulliish-structure.
It is why I like XRP, if you upset them by heavily shorting its flagship XRPUSD they can blow your account very quickly, TRON is the same, they know their regular buyer and sellers & they dont fake it like Bitcoin does.
By the way, I said earlier I accrue Crypto, about 2 weeks ago I sold the lot. Since having no Crypto I focussed on buying into some Juniors at their daily 200emas's and they then went on to break out. The bigger Cap Crypto I own are BTCUSD (don't expect loyalty for spending hundreds of thousand's dollars on them), TRON, XRPUSD (biggest holding), ADAUSD and a couple others like DOGEUSD, I would keep CRPYTO CFD's anywhere from a few minutes, few hours, few days, few weeks and probably 6 weeks maximum. That's is what promoted me to book-profits in BTCUSD etc etc. I think that if you had an endless tap of liquidity to buy buy buy Cryptocurrency's then you would accrue accrue accrue & reap the rewards of compounding profits as Bitcoin's price does up exponentially.

Dec 5

Note

prompted.

Dec 5

Note

Looking at the volume I think I owe bitcoin an apology. Or who had conspired with big-bank-traders.
You can see the volume from just below 100,000 the volume is very strong I guess from institutional bankers, propping up the price and volume, to then dump the volume. You can see for yourself.