By the way, useful information. Of course, you can buy at the current price with a target of $ 7,000.

But in this case, you will have a stop level below $ 6,000, which does not correspond to trading mathematics. You risk more than you earn. In the coming days, we will write a short article about mathematics in trading and how to correctly calculate entry and exit positions

💥 Platinum sibnoscription💥
available only for 24 hours from now, join Crypto Classics and get 25% discount with the CC25 code on all pack including the Diamond (Gold and Platinum).
👉 @damian_classics

cover in a slight loss. It seems that we have finished the correction and will continue to fall.

American markets on Friday closed at the very bottom. This is the biggest drop in markets since 2008. Wall Street is far from being fools. And they know more than us.

Therefore, we do not recommend buying anything now. Too dangerous. Yes, we have been falling for quite some time, but none of the rational investors immediately and abruptly redeems the market if a serious crisis is planned.

The more cryptocurrency, which is considered an over-risk investment. We saw this last week, when the price of cryptocurrencies at the time of losing 60%. Be careful and do not stand in the way of a steam train, which can instantly move you and not even notice you.

The market never begs for mistakes. No one has canceled risk management. You can always reopen the position if all goes well. Tomorrow will be a big review. Do not miss

We also help our customers navigate if you bought a portfolio of cryptocurrencies and don’t know what to do. Contact support @damian_classics

Binance US, Coinbase Pro
#BTC/USD Take-Profit target 1 ✅
Profit: 6,4516% 📈
Period: 26 Hours 33 minutes ⏰

The US Senate failed to vote on the assistance package proposed by the Trump administration. The proposed package of measures did not gain the required number of votes; it was not supported by the Democrats.

The reason for the lack of support for the Democrats is that the US presidential election is scheduled for the fall and Trump’s opponents will try in every way to prevent his popularity and re-election from growing. But there is no doubt that the assistance package will ultimately be accepted. Today, negotiations between lawmakers and the administration continue.

Both sides hope to reach an agreement and implement a package of measures, which is currently valued at $ 1.3 trillion, through both houses of Congress this week. Coordination and approval of this package of measures is likely to provoke a temporary recovery of markets.

US market shows new low

The Fed announces unlimited QE, which includes corporate bonds, the end date is unlimited.

The market reaction was lightning fast. It grew by 5%, but during the day it leveled off all growth. This suggests that market participants do not yet receive such news.

Bitcoin in the moment has also grown quite strong, but you are still in a short position. And even opened a short position on the altcoin. We think that the decline will continue and the current are good levels in terms of risk / reward ratio

💥 Platinum sibnoscription💥
available only for 24 hours from now, join Crypto Classics and get 25% discount with the CC25 code on all pack including the Diamond (Gold and Platinum).
👉 @damian_classics

Be careful. Too many fake movements and false breakdowns.

📍Current BTC update:📍

✅ Bitcoin: How strong is the struggle to maintain support and resistance levels. Since the moment of a strong fall, the price has bounced enough, but not much, which is quite possible.

The movement can go up to 7 300 dollars. This is the starting point of a strong fall. It is difficult at the moment to determine the direction of movement, because as soon as the price breaks a strong level, there is a good movement, but then the price comes back.

We already wrote that we consider this growth to be a rebound before a further fall. The rebound can be strong, because yesterday they switched on an unlimited dollars printing press. The markets have been falling for the third week in a row and it is time to have already made at least one week of rebound. This should apply to bitcoin along with altcoins.

However, the rebound in the US market is in strong stocks, such as AAPL, NFLX, while weak stocks do not show strong dynamics. What does this mean for the bitcoin market? The crisis has already come. And, as we wrote, the first will be to pull money out of risky assets, which are cryptocurrencies.

Do you believe in Bull run in the cryptocurrency market and Bitcoin in particular, we do not know, but we know for sure that this is only the beginning. In more detail about the reasons for the fall of the cryptocurrency market and the outbreak of a serious crisis, we will write in a large review at the end of the week.

Our tactics. Short trade in long and long position in short.
The idea is that recovering bitcoin will be quite difficult. External money is unlikely to come, but those inside the system will work. And they are tuned to speculation. Therefore, a trip above $ 7,300 is no exception.

This is done in order to knock out short players and give other participants a long position. In our opinion, the price stuck between $ 5,800 and $ 6,800 to give long positions in the hope of market participants in the growth of cryptocurrencies. We showed a weekly chart that displays a very sad picture. Traditional markets will adjust and continue to fall, then Bitcoin with a vengeance will begin a free fall. In the meantime, trading now is only a matter of support and resistance levels.

✅ Altcoins: It's all the same as with Bitcoin, only much worse. The movements will be stronger and larger. We highly recommend not buying altcoins for long term now. Short-term trades with quick entry and exit are quite logical, but with short stops and just instant exit from positions.

Bitcoin dominance rose to 65.7%. This indicates the overflow of capital from altcoins to bitcoin. If the process accelerates, this is another signal for a further drop in the price of bitcoin. Be careful. The cryptocurrency market's growth dynamics and decline are copying global markets.

And this means that we are tied to fixed assets where a crisis is already erupting. But there are some altcoins that can be a lifeboat during a crisis. We will post about them in our VIP channel. Take care.

📍Quick update:📍

Currently, the position is being accumulated. American congresses have adopted a stimulus package for the economy. 2 trillion dollars. This is an unprecedented amount. However, this is enough for three months.

The current state of bitcoin can be described as neutral. Opening positions while it makes no sense. But since we are sitting in a long position, we have to wait. The funniest thing is still ahead

💥 Platinum sibnoscription💥
available only for 24 hours from now, join Crypto Classics and get 25% discount with the CC25 code on all pack including the Diamond (Gold and Platinum).
👉 @damian_classics

📍World markets and economy📍

At the beginning of the month, about 100 confirmed cases of COVID-19 were reported in the US, but now there are more confirmed cases than in China and Italy, making the US the country with the largest coronavirus outbreak in the world. Attempts are also being made to rebuild the economy, and Trump will hear recommendations from the White House Task Force on Coronavirus this weekend. The plans include the classification of districts by low, medium, and high levels of "risk", though state governors will have a final decision on whether to soften orders at home and close businesses.

The Fed's balance sheet has grown by more than half a trillion dollars over the past week, roughly double the pace of its biggest weekly expansion during the global financial crisis. The central bank's total assets for the first time exceeded $ 5 trillion as it seeks to maintain a flow of liquidity to all corners of the market, including treasury bonds, commercial paper and municipal bonds.

"The virus does not respect borders," G20 leaders said after an emergency meeting on Thursday, announcing plans to invest more than 5 trillion. dollars in the global economy and do "whatever it takes" to overcome the pandemic of the coronavirus.

Today we’ll talk about indicators

Very often in public trading or analytics with traders you can notice a lot of all kinds of indicators on the chart. The most common fibonacci levels, overbought and oversold index, support and resistance levels, volume and so on. In fact, there are a huge number of indicators that are available to everyone.

Let's think now, if indicators are the key to success, then why so far no one has gotten rich using them. And why do many traders use them publicly if they could quietly earn money? The answer is obvious. 99% of indicators do not work. And that's why. The most basic reason is that the indicator is a lagging signal. It shows the entry point to the position a little later than it was necessary to open the position. Many indicators are based on what has already been done some time ago, but not what is being done at the moment. This is the main reason.

So what turns out that the indicators do not work? Not. We said that 0 99% are not working, but 1% is still useful. With our experience in trading financial markets for more than 10 years, we can highlight several effective indicators that will help make the right trading decision.

It should be understood that the indicator itself is worthless, and even if it shows a signal, then this is not just a winning trade. As a rule, indicators need to be combined with technical figures and the so-called price action.

The most working, in our opinion, are volume indicators and recently formed levels. Let us dwell on them.

The volume indicator shows the number of transactions that took place in a certain period of time. As a rule, if the volume is increased, then this indicates an increased interest of market participants. When the volume is sluggish, this indicates a weak market. In combination with this indicators, you can watch the breakdown of strong levels and candlestick analysis. It will also be useful to combine with technical analysis. For example, if a bull triangle formed and subsequently it was punched on the volume, then this usually says that the price will move on. If the breakup was on a sluggish volume, then this is most likely a false breakup and the price will return back to previous trading levels. We use the volume indicator almost always.

Here is another example of using a volume indicator. When the price is trending at a good volume, and then at some point the volume increases dramatically and a reversal pattern looms, for example a double bottom, then this is a strong buy signal. The logic is that at the moment of increased volume, the price met maximum resistance and will already move in the opposite direction.

The second indicator is recent support and resistance levels. Why do they work? The levels themselves indicate the strength of the buyer or seller. If the price cannot move further, then this indicates that someone does not want it to move. A strong level of support indicates a good buyer at these levels. Strong resistance indicates a good seller. It is important to understand that long-standing levels that formed a long time ago will not work as well as recent ones. The reason is that if someone held the price relatively recently, then there was a reason for this and he can also keep the price again. When there is a breakdown of the level, the main logic is that after the breakdown, those who bought are forced to cover the position at a loss.

This provokes a movement that we can use to our advantage. This is why bitcoin drops or rises when good levels break through. This is usually a liquidation position in the footsteps. Better yet, if it’s a margin call liquidation. This kind of movement is just a gift for traders. Where someone covers losses, you can make good money. Yes, sometimes it seems that this is a bad job, but on the other hand, the market is constantly where someone earns someone loses.

📍Current big Market update:📍

✅World markets. On Friday, global indices closed with slight losses. On Monday, news came out that the Fed would start printing unlimited amounts of money to support markets and the economy. In general, it was a growth week.

According to the news, this is the best bullish week of US indexes since the Great Depression. 20% growth per week. However, they forgot to add that before this there was the biggest drop since the Great Depression of 30% per week. Nevertheless, global markets rebounded on incentive news. Moreover, the fall was so vertical that the technical rebound suggested itself. Measures taken by developed countries so far have little help in stopping the spread of coronavirus.

Moreover, the distribution is exponential. America is already leading in the number of cases and deaths compared to the whole world combined. Even China. Although China is a very closed country and we do not believe their statistics, but US statistics there is reason to believe. Four came out important economic data for the United States.

Initial unemployment claims. Analysts, according to the most conservative estimates, expected 800 thousand, despite the fact that in normal times, this is usually 100 - 120 thousand. But the figure of 3.3 million was also voiced. In fact, a value of 3.3 million came out. They applied initial unemployment claims.

But the market reacted positively, as this data enables the US authorities to apply any fiscal measures, including direct repurchase of shares from the market. In general, this week was a good rebound, and according to our observation, only those companies grew well that, even during the period of quarantine and harsh measures to move the population, they feel good, for example, streaming companies, Netflix, or Zoom Video.

The rest of the market grew sluggishly, moreover on Friday, when the strength of the bulls dried up, the market began to fall and some weak companies fell even more. In general, everything is not so clear and this story, despite the statements of the world authorities and all the assurances about the help, may not stop the further fall of the world economy.

✅ Bitcoin: Over the week, bitcoin has grown slightly and almost dropped to previous levels. According to our estimates, the price should have bounced higher and reached the level of 7,000 - 7,300 dollars.

However, even we were surprised that despite the full correlation with world markets and the positive news about the infusion of monetary liquidity, Bitcoin was enough to grow to $ 7,000. And then for a moment. This means that with a high probability you have already played the correction and will continue to fall.

The fact that the price at the moment fell from $ 8,000 to $ 3,800 indicates the withdrawal of institutional money, and at least the lack of opportunity to return to the market until better times in the world. As you know, smart money likes to enter the markets when everything is stable and predictable. Now Bitcoin is left alone with speculative capital and miners. Also, exchanges that have their influence will try to earn on liquidations.

Our tactics. We are currently in a short position. After the formation of the double top and the lack of reaction to positive news, the price turned down, which for us is a bearish signal. The correction is over and, in our opinion, we can test the support levels of 5,000 and 4,300 dollars.

Moreover, we can even go further, but for now you should not run so far. There was a way out of a lot of money, but there was no way out of the miners, which tells us that they are well-off and ready to sit. For the long term, this is good.

We hold a short position and look forward to further action. The market can turn around at any moment, but we see no good reason for this. Do not hope for instant growth from nowhere. There must be a reason for everything.