It is December 27th, 2018
BTC dominance is currently at 52.1% (+0.5%). The total market cap is currently at $127.2 billion (- $1.0 billion). The market volume of the last 24h was $16.1 billion (- $2.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/OMCCgi5u/
Today we would like to cover daily time frame in deep because we think that the beginning of the new big move or trend is coming closer.
If you look at the chart, it is not that hard to spot inverted head and shoulders. Is it going to push price up? We'll see.
In our opinion, we will get answer very soon because for us 4200 is not main resistance but 3930-3950 because that is the area that will decide if we are going to test 4200 or fall back to 3700. If we reach 4200 with volume, I think most people will be too bullish because of obvious inverted head and shoulders that it will be impossible to stop price of reaching at least 4500.
On the other side, reaching 3700 after failed test of this area (3930-3950) would be rejection of $250 and in that case most people will realise that chances for head and shoulders are very weak and in that scenario we do not expect 3700 to hold longer than 12 hours before going further down to 3550 maybe even lower.
We are currently bullish and we will play this inverted head and shouders trying to catch that big move that could be even $600-800.
We are bullish not only because of Bitcoin but because of Ethereum BTC and especially Ethereum USD.
Ethereum BTC can go up without uptrend in BTC price but Ethereum USD is quite impossible to go up without increase in Bitcoin price.
Let us show you what we are talking about!
ETH/BTC: https://www.tradingview.com/x/LpaDkgb0/
It was amazing breakout after months of constantly dropping.
The red line is the most importannt and currently we are below that line but just 2% in price and we are talking about daily that has 14 hours to close so it can't be considered as invalidation. As long as price is above this red line, we are extra bullish and this gives huge chance for inverted head and shoulders on BTC to play out.
ETH/USD: https://www.tradingview.com/x/AeLZOuse/
On this chart, you see how high it can go? It has at least 30% of free space to grow without any problem.
30% increase in USD price can't happen and won't happen if BTC starts going down because simply ETH will lose USD value because of BTC decline and in order to make 30% gain, ETH/BTC will have to make 50% gain. Since we are in obvious ICO winter, I do not see reason for ETH/BTC to make 50% while BTC is going down.
We hope you got our point of view. Currently market is moving together and we have to find confluence in market and not rely only on a single chart as reference.
We are bullish as long as we are above 3700 and as long as we do not get big rejection from 3930-3950 area.
If we break 3930-3950 area and turn it in our support, I think 4200 will be just little break before reaching at least 4400-4500.
If this price setup doesn't play out, we will start looking for shorts targeting new low because price either goes up or down. If bullish setup gets invalidated, then probably bearish will work out.
To your success, CS Team!
BTC dominance is currently at 52.1% (+0.5%). The total market cap is currently at $127.2 billion (- $1.0 billion). The market volume of the last 24h was $16.1 billion (- $2.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/OMCCgi5u/
Today we would like to cover daily time frame in deep because we think that the beginning of the new big move or trend is coming closer.
If you look at the chart, it is not that hard to spot inverted head and shoulders. Is it going to push price up? We'll see.
In our opinion, we will get answer very soon because for us 4200 is not main resistance but 3930-3950 because that is the area that will decide if we are going to test 4200 or fall back to 3700. If we reach 4200 with volume, I think most people will be too bullish because of obvious inverted head and shoulders that it will be impossible to stop price of reaching at least 4500.
On the other side, reaching 3700 after failed test of this area (3930-3950) would be rejection of $250 and in that case most people will realise that chances for head and shoulders are very weak and in that scenario we do not expect 3700 to hold longer than 12 hours before going further down to 3550 maybe even lower.
We are currently bullish and we will play this inverted head and shouders trying to catch that big move that could be even $600-800.
We are bullish not only because of Bitcoin but because of Ethereum BTC and especially Ethereum USD.
Ethereum BTC can go up without uptrend in BTC price but Ethereum USD is quite impossible to go up without increase in Bitcoin price.
Let us show you what we are talking about!
ETH/BTC: https://www.tradingview.com/x/LpaDkgb0/
It was amazing breakout after months of constantly dropping.
The red line is the most importannt and currently we are below that line but just 2% in price and we are talking about daily that has 14 hours to close so it can't be considered as invalidation. As long as price is above this red line, we are extra bullish and this gives huge chance for inverted head and shoulders on BTC to play out.
ETH/USD: https://www.tradingview.com/x/AeLZOuse/
On this chart, you see how high it can go? It has at least 30% of free space to grow without any problem.
30% increase in USD price can't happen and won't happen if BTC starts going down because simply ETH will lose USD value because of BTC decline and in order to make 30% gain, ETH/BTC will have to make 50% gain. Since we are in obvious ICO winter, I do not see reason for ETH/BTC to make 50% while BTC is going down.
We hope you got our point of view. Currently market is moving together and we have to find confluence in market and not rely only on a single chart as reference.
We are bullish as long as we are above 3700 and as long as we do not get big rejection from 3930-3950 area.
If we break 3930-3950 area and turn it in our support, I think 4200 will be just little break before reaching at least 4400-4500.
If this price setup doesn't play out, we will start looking for shorts targeting new low because price either goes up or down. If bullish setup gets invalidated, then probably bearish will work out.
To your success, CS Team!
It is December 28th, 2018
BTC dominance is currently at 52.5% (+0.4%). The total market cap is currently at $121.9 billion (- $5.3 billion). The market volume of the last 24h was $15.4 billion (- $0.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/CYYiY2qb/
Our long setup on BTC is invalidated. We took trade 2 days ago and closed in profit around 3800 and after that we are out of the market waiting for next sign. We were looking for bullish trigger that didnt happen and now since long trade setup is not valid anymore, we are looking for new one.
H4 time frame : https://www.tradingview.com/x/yTiPctsS/
If you scroll up and check our post 3 days ago, you will see that we mentioned EMA 50. We thought it could offer short scalp opportunity but it looks like it was enough for swing opportunity too.
It tried to cross above EMA 50 several times but got rejected every time.
It is now very close to major potential supports starting from yellow box that is important price point, further down to red line that is important swing point all the way down to green area that serves like the last support before new potential bloodbath.
Our long setup was invalidated that could target even 5500 but it doesn't mean that we can't see some more bull action but this time up moves will probably be nothing more but better short opportunity.
This is currently no mans land. It could go up, it could go down. Perfect long is invalidated but the price is still above 0.618 fibonacci level so we would not short here but rather wait for some clear signs.
To your success, CS Team!
BTC dominance is currently at 52.5% (+0.4%). The total market cap is currently at $121.9 billion (- $5.3 billion). The market volume of the last 24h was $15.4 billion (- $0.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/CYYiY2qb/
Our long setup on BTC is invalidated. We took trade 2 days ago and closed in profit around 3800 and after that we are out of the market waiting for next sign. We were looking for bullish trigger that didnt happen and now since long trade setup is not valid anymore, we are looking for new one.
H4 time frame : https://www.tradingview.com/x/yTiPctsS/
If you scroll up and check our post 3 days ago, you will see that we mentioned EMA 50. We thought it could offer short scalp opportunity but it looks like it was enough for swing opportunity too.
It tried to cross above EMA 50 several times but got rejected every time.
It is now very close to major potential supports starting from yellow box that is important price point, further down to red line that is important swing point all the way down to green area that serves like the last support before new potential bloodbath.
Our long setup was invalidated that could target even 5500 but it doesn't mean that we can't see some more bull action but this time up moves will probably be nothing more but better short opportunity.
This is currently no mans land. It could go up, it could go down. Perfect long is invalidated but the price is still above 0.618 fibonacci level so we would not short here but rather wait for some clear signs.
To your success, CS Team!
It is December 29th, 2018
BTC dominance is currently at 52.0% (-0.5%). The total market cap is currently at $131.4 billion (+ $9.5 billion). The market volume of the last 24h was $19.3 billion (+ $3.9 billion).
Technical analysis
4h time frame :https://www.tradingview.com/x/5t2Tjj6J/
After we saw unexpected drop below 3700 area, we saw consolidation area and then spike of $350.
The drop below 3700 didn't give us enough reason for shorting and someone will say this was expected. Expected or not, shorting in that area wouldn't be the good idea since it had a lot of potential support below and the move wouldn't have too much space to drop since one of the supports would probably be strong enough to stop price from further decline.
What we see now is testing of the mentioned area 3930-3950 and that's in our opinion main area that will give us a direction because it will decide if this was just a corrective wave downn before one more impulsive wave up or price already made all its impulsive moves up, formed double top and it is ready for new decline.
Our trading setups are very clear. We will look for longs once we see clear close above 3930. We will look for short once we see clear close below 3400 but it will be more like a scalp since it is very close to supports.
3500-3800 is more like a no trade zone because in that area price doesn't have a trend but just bouncing from one extreme to another.
To your success, CS Team
BTC dominance is currently at 52.0% (-0.5%). The total market cap is currently at $131.4 billion (+ $9.5 billion). The market volume of the last 24h was $19.3 billion (+ $3.9 billion).
Technical analysis
4h time frame :https://www.tradingview.com/x/5t2Tjj6J/
After we saw unexpected drop below 3700 area, we saw consolidation area and then spike of $350.
The drop below 3700 didn't give us enough reason for shorting and someone will say this was expected. Expected or not, shorting in that area wouldn't be the good idea since it had a lot of potential support below and the move wouldn't have too much space to drop since one of the supports would probably be strong enough to stop price from further decline.
What we see now is testing of the mentioned area 3930-3950 and that's in our opinion main area that will give us a direction because it will decide if this was just a corrective wave downn before one more impulsive wave up or price already made all its impulsive moves up, formed double top and it is ready for new decline.
Our trading setups are very clear. We will look for longs once we see clear close above 3930. We will look for short once we see clear close below 3400 but it will be more like a scalp since it is very close to supports.
3500-3800 is more like a no trade zone because in that area price doesn't have a trend but just bouncing from one extreme to another.
To your success, CS Team
It is December 30th, 2018
BTC dominance is currently at 51.8% (+0.2%). The total market cap is currently at $131.2 billion (- $0.2 billion). The market volume of the last 24h was $16.1 billion (- $3.2 billion).
Technical analysis
H4 time frame : https://www.tradingview.com/x/T60O0rD9/
We are still in the market that is too choppy and we would not suggest anyone to take any bigger position in this market.
There is no trend, still bouncing from support to resistance. If you like to trade in the channel, this could be opportunity for you but we more prefer trend trading and that's why we are sitting on the side and waiting for either clear bullish sign or to drop to 3400-3500 where we would look for long entry.
Currently, considering all ALTs that look like they founnd bottom, we could see move up from Bitcoin more likely than new drop and that's why we are looking for long swings but if price gives us short opportunities, we would take some nice scalps for sure.
What we see on Telegram and Twitter most of people think of potential inverted Head and Shoulders on BTC. Our opinion is that in bear market like that we need almost perfect formation in order to works. The inverted H&S we have on BTC at the moment is not even close to perfect so I would not be so bullish because of that.
Price won't go up when the majority turns bullish that's why we wont open blidnly longs just because of potential inverted H&S. We woul rather wait for good buy opportunity arounnd 3400-3500 or once we see clear close above weekly resistance 3930-3950.
We are currently we are waiting for our new entry. Once we see new entry opportunity, we are going to update you.
To your success, CS Team!
BTC dominance is currently at 51.8% (+0.2%). The total market cap is currently at $131.2 billion (- $0.2 billion). The market volume of the last 24h was $16.1 billion (- $3.2 billion).
Technical analysis
H4 time frame : https://www.tradingview.com/x/T60O0rD9/
We are still in the market that is too choppy and we would not suggest anyone to take any bigger position in this market.
There is no trend, still bouncing from support to resistance. If you like to trade in the channel, this could be opportunity for you but we more prefer trend trading and that's why we are sitting on the side and waiting for either clear bullish sign or to drop to 3400-3500 where we would look for long entry.
Currently, considering all ALTs that look like they founnd bottom, we could see move up from Bitcoin more likely than new drop and that's why we are looking for long swings but if price gives us short opportunities, we would take some nice scalps for sure.
What we see on Telegram and Twitter most of people think of potential inverted Head and Shoulders on BTC. Our opinion is that in bear market like that we need almost perfect formation in order to works. The inverted H&S we have on BTC at the moment is not even close to perfect so I would not be so bullish because of that.
Price won't go up when the majority turns bullish that's why we wont open blidnly longs just because of potential inverted H&S. We woul rather wait for good buy opportunity arounnd 3400-3500 or once we see clear close above weekly resistance 3930-3950.
We are currently we are waiting for our new entry. Once we see new entry opportunity, we are going to update you.
To your success, CS Team!
It is December 31st, 2018
BTC dominance is currently at 51.9% (+0.1%). The total market cap is currently at $127.8 billion (- $3.4 billion). The market volume of the last 24h was $14.0 billion (- $2.1 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/aJ1Kk6ZX/
Bitcoin is still in the zone. In the zone where the trading is considered very risky. Based on weekly close we expect price to reach 3400-3500 this week and that area could be considered as good long opportunity if price shows long trigger.
It is New Year's Eve and we wish you all the best in 2019. This was very tough year for crypto in terms of price but in terms of development and economic growth we could say that this was pretty good year for crypto, in our opinion even better than 2017.
The development improvement will set strong roots annd sooner or later price is going to follow that.
Our team is taking a little break for New Year to celebrate and prepare for 2019.
We suggest you all to take a break, even market is suggesting you to do the same since it is not tradable at the moment.
Enjoy your time and charge yourselves for best year ever, 2019!
To your success, CS Team!
BTC dominance is currently at 51.9% (+0.1%). The total market cap is currently at $127.8 billion (- $3.4 billion). The market volume of the last 24h was $14.0 billion (- $2.1 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/aJ1Kk6ZX/
Bitcoin is still in the zone. In the zone where the trading is considered very risky. Based on weekly close we expect price to reach 3400-3500 this week and that area could be considered as good long opportunity if price shows long trigger.
It is New Year's Eve and we wish you all the best in 2019. This was very tough year for crypto in terms of price but in terms of development and economic growth we could say that this was pretty good year for crypto, in our opinion even better than 2017.
The development improvement will set strong roots annd sooner or later price is going to follow that.
Our team is taking a little break for New Year to celebrate and prepare for 2019.
We suggest you all to take a break, even market is suggesting you to do the same since it is not tradable at the moment.
Enjoy your time and charge yourselves for best year ever, 2019!
To your success, CS Team!
It is January 1st, 2019
BTC dominance is currently at 51.7% (-0.2%) The total market cap is currently at $126.0 billion (-$1.8 billion). The market volume of the last 24h was $12.7 billion (- $1.3 billion).
While Bitcoin ‘Died’ 90 Times In 2018, There Are Almost 1000 ‘Dead’ Altcoins, Data Shows
https://cointelegraph.com/news/while-bitcoin-died-90-times-in-2018-there-are-almost-1000-dead-altcoins-data-shows
The market decline we saw in 2018 is going to filter our crypto market and only real projects with right teams are going to survive with in case they have enough money.
Not only in crypto, in economy in general, when things are not doing so good, only best projects are going to stay alive while others are going to die slowly.
It wont happen with big projects. Big altcoins can die if they find some unfixed error in code that could help hackers to take control over whole blockchain. They could die if some countries agree to ban these coins because they are violating their rules. But low cap coins will mostly die not because of these reasons because simply they will run out of money.
That's why we are preparing for you one guide what 2018 should teach you. The times when bag holders were making tons of profit are gone. We are entering the stage where more and more institutional investors are coming in. They are going not going to invest in shit coins as newbies do because for them to ivnest they need very strong reason. They will never invest just because someone else said them to do that.
In some way, it is bad but in our opinion it is great because market will get rid of all these scams and we hope the majority of moon-lambo shillers will be shaken out. Crypto is not about moon-lambo shits but about technology and real life usage. There is tons of money to be made in crypto, this is not the end of big revolution but it is end of moon-lambo community and time to get serious.
We wish you all the best in 2019. If you believe in the story behind the crypto, you should start learning more and growing more. As we said, there is tons of money to be made but in order to make it happen, you will have to invest time and money.
To your success, CS Team!
BTC dominance is currently at 51.7% (-0.2%) The total market cap is currently at $126.0 billion (-$1.8 billion). The market volume of the last 24h was $12.7 billion (- $1.3 billion).
While Bitcoin ‘Died’ 90 Times In 2018, There Are Almost 1000 ‘Dead’ Altcoins, Data Shows
https://cointelegraph.com/news/while-bitcoin-died-90-times-in-2018-there-are-almost-1000-dead-altcoins-data-shows
The market decline we saw in 2018 is going to filter our crypto market and only real projects with right teams are going to survive with in case they have enough money.
Not only in crypto, in economy in general, when things are not doing so good, only best projects are going to stay alive while others are going to die slowly.
It wont happen with big projects. Big altcoins can die if they find some unfixed error in code that could help hackers to take control over whole blockchain. They could die if some countries agree to ban these coins because they are violating their rules. But low cap coins will mostly die not because of these reasons because simply they will run out of money.
That's why we are preparing for you one guide what 2018 should teach you. The times when bag holders were making tons of profit are gone. We are entering the stage where more and more institutional investors are coming in. They are going not going to invest in shit coins as newbies do because for them to ivnest they need very strong reason. They will never invest just because someone else said them to do that.
In some way, it is bad but in our opinion it is great because market will get rid of all these scams and we hope the majority of moon-lambo shillers will be shaken out. Crypto is not about moon-lambo shits but about technology and real life usage. There is tons of money to be made in crypto, this is not the end of big revolution but it is end of moon-lambo community and time to get serious.
We wish you all the best in 2019. If you believe in the story behind the crypto, you should start learning more and growing more. As we said, there is tons of money to be made but in order to make it happen, you will have to invest time and money.
To your success, CS Team!
Cointelegraph
While Bitcoin ‘Died’ 90 Times In 2018, There Are Almost 1000 ‘Dead’ Altcoins, Data Shows
Bitcoin rose from the dead almost 100 times last year alone, while 934 altcoins have perished, data suggests.
It is January 2nd, 2019
BTC dominance is currently at 51.2% (-0.5%). The total market cap is currently at $131.2 billion (+ $5.2 billion). The market volume of the last 24h was $14.7 billion (+ $2.0 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/9pZ0bVmb/
Bitcoin is still consolidating in the area between 3600 annd 3800.
We are still thinking the price will go up based on nice monthly close but since last weekly close was not that good, we think the price will go up once weekly turns bullish too and it could happen this week and that's what we are waiting for.
We are going to share our trade setup once we get it because at the moment we do nont have profitable trade setup for BTC.
To your success, CS Team!
BTC dominance is currently at 51.2% (-0.5%). The total market cap is currently at $131.2 billion (+ $5.2 billion). The market volume of the last 24h was $14.7 billion (+ $2.0 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/9pZ0bVmb/
Bitcoin is still consolidating in the area between 3600 annd 3800.
We are still thinking the price will go up based on nice monthly close but since last weekly close was not that good, we think the price will go up once weekly turns bullish too and it could happen this week and that's what we are waiting for.
We are going to share our trade setup once we get it because at the moment we do nont have profitable trade setup for BTC.
To your success, CS Team!
It is January 3rd, 2019
BTC dominance is currently at 51.4% (+0.2%). The total market cap is currently at $132.2 billion (+ $1.0 billion). The market volume of the last 24h was $15.7 billion (+ $1.0 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/4YNM3iaS/
Bitcoin was rejected one more time by weekly resistance and confirmation we were looking for didn't happen.
You know our opinion on BTC, it is still the same. We are still loking for solid close above weekly resistance on higher time frames (daily would be great) or to look for lonng around weekly support 3400-3500.
We won't repeat about Bitcoin that's why we would like to update Ethereum today.
ETH/BTC: https://www.tradingview.com/x/tEcCcCJM/
ETH/USD: https://www.tradingview.com/x/FM3QKPG5/
Since Ethereum Constantinople fork is coming, we would like to take more time to cover Ethereum.
The whole purpose of the fork is reducing mining block reward to 2 ETH per block.
This was happening in the past too.
By checkinng this chart: https://etherscan.io/chart/blocks
You can see that we went all the way up to 5 ETH per block to 3 ETH per block at the moment.
If you do nont know, Ethereum do not have fixed total supply like Bitcoin does but it is planned to keep reducing mining block reward further more. At some point, we will come to the point where the number of new coins on daily basis will be negligible.
For example, currently it is around 20 000 ethereum per day. Two years ago it was around 30 000 ethereum per day.
Once they reduce block reward to 2ETH, mining at currently price will be making loss to the miners. Is that a problem?
If you do not know, Ethereum is planning to go from mining to staking. They are going to do it by forcing miners to shut down their machines. They just can't say them to turn it down because it makes them profit and as long as it is profitable they wont do it.
That's why by the seizing down the block size, they will have to turn it off otherwise they will be mining at bigger and bigger loss and there is no single person that would do it.
In this period, the entire network is going to be in danger. Less miners, more chance for price and network manipulation but if the development team knows what they are doing, this could turn to be very good for Ethereum future.
It is questionable if staking is better than minining, both have its own advantages and disadvantages but if their team think it is going to improve network specifications, then there is no reason to think that this is bad for Ethereum.
The fork is coming on block 7080000 which is estimated to happen on January 16th, 2019.
One of the reasons why price is going up is surely this upcoming fork.
What fundamentals are going to bring us is question, we all know what happened with Bitcoin Cash when it got forked, everything is possible. Even very bullish news could turn to be nightmare for holders and bullish biased traders.
What both technical analysis are showing is that Ethereum has at least 20%-30% free space to grow before any significant resistance area. Is that reason to market buy? We would say no because it would be FOMO and whenever you go FOMO, sooner or later you will be shaken out.
So, if you are holdinng Ethereum, there is very good chance for good profit. If you are bullish biased, it gives a lot of reasons for that but always check the most important thing: risk management.
If risk management gives you profitable entry place, enter the trade. If it doesn't wait for next opportunity that will show up sooner or later.
To your success, CS Team!
BTC dominance is currently at 51.4% (+0.2%). The total market cap is currently at $132.2 billion (+ $1.0 billion). The market volume of the last 24h was $15.7 billion (+ $1.0 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/4YNM3iaS/
Bitcoin was rejected one more time by weekly resistance and confirmation we were looking for didn't happen.
You know our opinion on BTC, it is still the same. We are still loking for solid close above weekly resistance on higher time frames (daily would be great) or to look for lonng around weekly support 3400-3500.
We won't repeat about Bitcoin that's why we would like to update Ethereum today.
ETH/BTC: https://www.tradingview.com/x/tEcCcCJM/
ETH/USD: https://www.tradingview.com/x/FM3QKPG5/
Since Ethereum Constantinople fork is coming, we would like to take more time to cover Ethereum.
The whole purpose of the fork is reducing mining block reward to 2 ETH per block.
This was happening in the past too.
By checkinng this chart: https://etherscan.io/chart/blocks
You can see that we went all the way up to 5 ETH per block to 3 ETH per block at the moment.
If you do nont know, Ethereum do not have fixed total supply like Bitcoin does but it is planned to keep reducing mining block reward further more. At some point, we will come to the point where the number of new coins on daily basis will be negligible.
For example, currently it is around 20 000 ethereum per day. Two years ago it was around 30 000 ethereum per day.
Once they reduce block reward to 2ETH, mining at currently price will be making loss to the miners. Is that a problem?
If you do not know, Ethereum is planning to go from mining to staking. They are going to do it by forcing miners to shut down their machines. They just can't say them to turn it down because it makes them profit and as long as it is profitable they wont do it.
That's why by the seizing down the block size, they will have to turn it off otherwise they will be mining at bigger and bigger loss and there is no single person that would do it.
In this period, the entire network is going to be in danger. Less miners, more chance for price and network manipulation but if the development team knows what they are doing, this could turn to be very good for Ethereum future.
It is questionable if staking is better than minining, both have its own advantages and disadvantages but if their team think it is going to improve network specifications, then there is no reason to think that this is bad for Ethereum.
The fork is coming on block 7080000 which is estimated to happen on January 16th, 2019.
One of the reasons why price is going up is surely this upcoming fork.
What fundamentals are going to bring us is question, we all know what happened with Bitcoin Cash when it got forked, everything is possible. Even very bullish news could turn to be nightmare for holders and bullish biased traders.
What both technical analysis are showing is that Ethereum has at least 20%-30% free space to grow before any significant resistance area. Is that reason to market buy? We would say no because it would be FOMO and whenever you go FOMO, sooner or later you will be shaken out.
So, if you are holdinng Ethereum, there is very good chance for good profit. If you are bullish biased, it gives a lot of reasons for that but always check the most important thing: risk management.
If risk management gives you profitable entry place, enter the trade. If it doesn't wait for next opportunity that will show up sooner or later.
To your success, CS Team!
It is January 4th, 2019
BTC dominance is currently at 51.0% (-0.4%). The total market cap is currently at $131.9 billion (- $0.3 billion). The market volume of the last 24h was $14.8 billion (- $0.9 billion).
Techbnical analysis
4h time frame : https://www.tradingview.com/x/rqPV95FY/
Bitcoin is still in the area, the consolidation is still active. It is positive to see rejection from green area that serves as support based on important daily price level.
We are still more bullish than bearish on BTC but we are still looking for clear sign to confirm our bullishness.
As we said on the beginning of the week, considering bullish monthly close and bearish weekly, we think this week will serve to invalidate previous bearish weekly close and once we have bullish monthly close and invalidated bearish weekly we could easily see next week BTC at least trying to reach previous high around 4250.
Once we spot profitable trade setup with confirmed sign, we will share with you.
To your success, CS Team!
BTC dominance is currently at 51.0% (-0.4%). The total market cap is currently at $131.9 billion (- $0.3 billion). The market volume of the last 24h was $14.8 billion (- $0.9 billion).
Techbnical analysis
4h time frame : https://www.tradingview.com/x/rqPV95FY/
Bitcoin is still in the area, the consolidation is still active. It is positive to see rejection from green area that serves as support based on important daily price level.
We are still more bullish than bearish on BTC but we are still looking for clear sign to confirm our bullishness.
As we said on the beginning of the week, considering bullish monthly close and bearish weekly, we think this week will serve to invalidate previous bearish weekly close and once we have bullish monthly close and invalidated bearish weekly we could easily see next week BTC at least trying to reach previous high around 4250.
Once we spot profitable trade setup with confirmed sign, we will share with you.
To your success, CS Team!
It is January 5th, 2019
BTC dominance is currently at 51.0% (+0.0%). The total market cap is currently at $132.2 billion (+ $0.3 billion). The market volume of the last 24h was $17.0 billion (+ $2.2 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/nDVECEYc/
Bitcoin is still in the range. While Bitcoin is in the range, alts are growinng steadily. ETH is moving up nicely considering upcoming fork, continuation could happen easily. Tron is making good moves too powered by good fundamentals but once it broke from consolidation channel between 250 sats and 400, it is moving up without big pullback and it doesn't offer chance for reentry.
We are still waiting for BTC trade to give us clear sign. It is looking positive but struggling to make that move to confirm that hidden bullishness.
We are not going long without confirmation because there is possibility that BTC is holding this are only because of bullish ETH and TRON. These two are creating positive market sentiment that holding BTC price too and the rest of market. We should know that we are still in bear market, if we check entire sell off, price is still very low so you should trade after confirmation to filter fakeouts. It looks bullish 4-5 days at least but every move was faked and if you were waiting on the side, you would make right decision. It was few times close to confirm but every time it got heavily rejected that gives us strong sign that bears are not out of the market yet.
To your success, CS Team
BTC dominance is currently at 51.0% (+0.0%). The total market cap is currently at $132.2 billion (+ $0.3 billion). The market volume of the last 24h was $17.0 billion (+ $2.2 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/nDVECEYc/
Bitcoin is still in the range. While Bitcoin is in the range, alts are growinng steadily. ETH is moving up nicely considering upcoming fork, continuation could happen easily. Tron is making good moves too powered by good fundamentals but once it broke from consolidation channel between 250 sats and 400, it is moving up without big pullback and it doesn't offer chance for reentry.
We are still waiting for BTC trade to give us clear sign. It is looking positive but struggling to make that move to confirm that hidden bullishness.
We are not going long without confirmation because there is possibility that BTC is holding this are only because of bullish ETH and TRON. These two are creating positive market sentiment that holding BTC price too and the rest of market. We should know that we are still in bear market, if we check entire sell off, price is still very low so you should trade after confirmation to filter fakeouts. It looks bullish 4-5 days at least but every move was faked and if you were waiting on the side, you would make right decision. It was few times close to confirm but every time it got heavily rejected that gives us strong sign that bears are not out of the market yet.
To your success, CS Team
It is January 6th, 2019
BTC dominance is currently at 51.0% (+0.0%). The total market cap is currently at $132.3 billion (+ $0.1 billion). The market volume of the last 24h was $16.3 billion (- $0.7 billion).
Technical analysis
H4 time frame : https://www.tradingview.com/x/QTjW0uXm/
Bitcoin is still in the range one more day. Consolidation is still active and as long as it is in this triangle, we wont see any significant move.
It could go in either direction. If you are bullish biased, you have reasonn for. If you are bearish biased you have reason for too.
Most likely after today's weekly close, we will have chance to finally see the move. Based on current weekly price formation, we give more chance to up move than down move.
We have 12 hours more until weekly close and there is more than enough time to change current price formation.
To your success, CS Team!
BTC dominance is currently at 51.0% (+0.0%). The total market cap is currently at $132.3 billion (+ $0.1 billion). The market volume of the last 24h was $16.3 billion (- $0.7 billion).
Technical analysis
H4 time frame : https://www.tradingview.com/x/QTjW0uXm/
Bitcoin is still in the range one more day. Consolidation is still active and as long as it is in this triangle, we wont see any significant move.
It could go in either direction. If you are bullish biased, you have reasonn for. If you are bearish biased you have reason for too.
Most likely after today's weekly close, we will have chance to finally see the move. Based on current weekly price formation, we give more chance to up move than down move.
We have 12 hours more until weekly close and there is more than enough time to change current price formation.
To your success, CS Team!
It is January 7th, 2018
BTC dominance is currently at 51.7% (+0.7%). The total market cap is currently at $136.6 billion (+ $4.3 billion). The market volume of the last 24h was $17.8 billion (+ $1.4 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/fQ8WLqA3/
BTC broke out above the resistance and it is holdinng above 4000.
Now, it is time to look for triggers in 3930-3950 area or on retest of this triangle around 3850 but that would be almost 100% retracement and it would not be so bullish. So, the main area to look for reentry is 3930-3950 area.
As you know, we were constantly more bullish than bearish on BTC but after we saw move up, we didn't expect this decline in altcoin market. It is not big but the previous BTC moves was outperformed by alts and it didn't happen this time. When it happens, we see very good up moves by all market, this time it is different and we see small decline by major alts that are holding supports but not so strongly.
Then we zoomed out and spotted something interesting: https://www.tradingview.com/x/BFtErvXX/
This is resistance that looks very likely to hold out in this conditions. Low volume on breakout, decline in the altcoin market. If we combine all these facts, we will double check our bullish triggers because this could be also easily fake sign to trigger opening a lot of longs that will help smart money to crash the market again.
We expected move up but now we will double check price action and triggers before taking the trade. Be careful, market is showing bearish signs and we think you have to consioder them before taking any trade, bullish or bearish.
To your success, CS Team!
BTC dominance is currently at 51.7% (+0.7%). The total market cap is currently at $136.6 billion (+ $4.3 billion). The market volume of the last 24h was $17.8 billion (+ $1.4 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/fQ8WLqA3/
BTC broke out above the resistance and it is holdinng above 4000.
Now, it is time to look for triggers in 3930-3950 area or on retest of this triangle around 3850 but that would be almost 100% retracement and it would not be so bullish. So, the main area to look for reentry is 3930-3950 area.
As you know, we were constantly more bullish than bearish on BTC but after we saw move up, we didn't expect this decline in altcoin market. It is not big but the previous BTC moves was outperformed by alts and it didn't happen this time. When it happens, we see very good up moves by all market, this time it is different and we see small decline by major alts that are holding supports but not so strongly.
Then we zoomed out and spotted something interesting: https://www.tradingview.com/x/BFtErvXX/
This is resistance that looks very likely to hold out in this conditions. Low volume on breakout, decline in the altcoin market. If we combine all these facts, we will double check our bullish triggers because this could be also easily fake sign to trigger opening a lot of longs that will help smart money to crash the market again.
We expected move up but now we will double check price action and triggers before taking the trade. Be careful, market is showing bearish signs and we think you have to consioder them before taking any trade, bullish or bearish.
To your success, CS Team!
#BTC Update
Monthly: https://www.tradingview.com/x/P66wnO4B/
Weekly: https://www.tradingview.com/x/pxpQK5Kd/
Daily: https://www.tradingview.com/x/NMU3wuSs/
Monthly: https://www.tradingview.com/x/P66wnO4B/
Weekly: https://www.tradingview.com/x/pxpQK5Kd/
Daily: https://www.tradingview.com/x/NMU3wuSs/
It is January 8th, 2018
BTC dominance is currently at 51.8% (+0.1%). The total market cap is currently at $136.4 billion (- $0.2 billion). The market volume of the last 24h was $16.5 billion (- $1.3 billion).
Technical analysis
H4 time frame : https://www.tradingview.com/x/4u1ZTM67/
Bitcoin is currently testing the resistance. First time it was heavily rejected from 4130 al the way down to 3950.
We can't consider BTC bullish after this heavy rejection. As long as it is above weekly support 3930-3950 we wont jump on short but we will double check long triggers after this rejection.
Market doesn't look that strong to break this important resistance level. Not only Bitcoinn, but other coins like ETH and XRP that are very close to its support areas. Whenever we approach support, the majority goes long and put stop loss below that support area. Because of that, this support or XRP and ETH was tested couple of times and considering that just small drop below these supports can trigger these stop loss and we can see easily sell off.
That's why, combined all these facts, market is not looking so strong and considering that in past it moved together. When BTC went up, alts follwed but makinng bigger gain resulting BTC dominance to go down. When BTC went down. alts followed by making bigger losses that resulted BTC dominance to go up. There is no reason to think this time it wont move together.
To your success, CS Team!
BTC dominance is currently at 51.8% (+0.1%). The total market cap is currently at $136.4 billion (- $0.2 billion). The market volume of the last 24h was $16.5 billion (- $1.3 billion).
Technical analysis
H4 time frame : https://www.tradingview.com/x/4u1ZTM67/
Bitcoin is currently testing the resistance. First time it was heavily rejected from 4130 al the way down to 3950.
We can't consider BTC bullish after this heavy rejection. As long as it is above weekly support 3930-3950 we wont jump on short but we will double check long triggers after this rejection.
Market doesn't look that strong to break this important resistance level. Not only Bitcoinn, but other coins like ETH and XRP that are very close to its support areas. Whenever we approach support, the majority goes long and put stop loss below that support area. Because of that, this support or XRP and ETH was tested couple of times and considering that just small drop below these supports can trigger these stop loss and we can see easily sell off.
That's why, combined all these facts, market is not looking so strong and considering that in past it moved together. When BTC went up, alts follwed but makinng bigger gain resulting BTC dominance to go down. When BTC went down. alts followed by making bigger losses that resulted BTC dominance to go up. There is no reason to think this time it wont move together.
To your success, CS Team!
It is Jannuary 9th, 2018
BTC dominance is currently at 51.6% (-0.2%). The total market cap is currently at $137.0 billion (+ $0.6 billion). The market volume of the last 24h was $25.4 billion (+ $7.9 billion).
Technical analysis
4H time frame : https://www.tradingview.com/x/kPuc8c8K/
To put it simple, our areas of interest are simple. We will look for short on retest of 3930-3950 if that area gets broken. We will look for long onn retest of 4100 resistance if this red downslopping trend lin gets broken.
Taking any entry in the middle zone is good if you find profitable risk management. Everything else would be too risky.
To your success, CS Team!
BTC dominance is currently at 51.6% (-0.2%). The total market cap is currently at $137.0 billion (+ $0.6 billion). The market volume of the last 24h was $25.4 billion (+ $7.9 billion).
Technical analysis
4H time frame : https://www.tradingview.com/x/kPuc8c8K/
To put it simple, our areas of interest are simple. We will look for short on retest of 3930-3950 if that area gets broken. We will look for long onn retest of 4100 resistance if this red downslopping trend lin gets broken.
Taking any entry in the middle zone is good if you find profitable risk management. Everything else would be too risky.
To your success, CS Team!
There is a rumour of 51% attack on ETC. Coinbase suspended ETC trading because of that rumour. We will let you know once we will have more informations.
Source:
https://twitter.com/etherchain_org/status/1082329360948969472
Source:
https://twitter.com/etherchain_org/status/1082329360948969472
Twitter
Bitfly
We can confirm that there was a successful 51% attack on the Ethereum Classic (#ETC) network with multiple 100+ block reorganization. We recommend all services to closely monitored the chain and significantly increase required confirmations.
A Russian university lecturer with ties to the government says the Kremlin will soon begin investing massively in Bitcoin as a way of avoiding new U.S. sanctions, a move that could happen “in a matter of weeks.”
https://bitcoinist.com/russia-ditch-usd-bitcoin-prof/
https://bitcoinist.com/russia-ditch-usd-bitcoin-prof/
Bitcoinist.com
Russia Plans to Ditch US Dollar for Bitcoin, Says University Professor
A Russian university lecturer with ties to the government says the Kremlin will soon begin investing massively in Bitcoin as a way of avoiding new U.S. sanctions, a move that could happen "in a matter of weeks." A Russian university lecturer with ties to…
It is December 10th, 2018
BTC dominance is currently at 52.3% (+0.7%). The total market cap is currently at $127.9 billion (- $9.1 billion). The market volume of the last 24h was $20.6 billion (-$ 4.8 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/v9Qq1ud6/
After BTC pumped into nowhere, being rejected by down slopping trend line, we saw big move down. If you check our analysis 2 days ago, you will see that our opinion was bearish after we saw the market reaction after pump to 4100.
Where next?
We have 2 area of interest at the moment. In our opinion, market is not that bearish to continue straight down. The number of shorts opened on Bitmex is 60% compared to 40% longs. It is too much and without stop run we do not think we will see further decline. What do we mean by stop run?
All these shorts have stop loss placed somewhere. Most of them used to place it tight not looking at major price levels. They will put it tight to prevent big losses not to get out of trade when price confirm that their hypothesis was wrong. They will place it in area between 3800 to 3950 depends what is their entry plan if they have any.
It means that we expect to see price climb in this area to trigger part of this stop losses and close part of those shorts. What is it going to cause in the market?
Simply, we will have less opened short positions, we will have a lot of closed short that are not close because they were wrong but because they placed stop loss too tight and it means that they will stay bearish. It will create market sentiment very bearish and that's the momennt we think price is going to start major decline to 3400-3500 price areas.
That's why we will wait for that scenario to happen and look for short entry. Perfect entry would be around 3900.
Another possible scenario is to see further drop from this triangle without any stop run and we do not give it too much chance and we are not going to trade that scenario trying to catch the falling knight.
If we see close below triangle, then we will look for retest of the triangle trend line to enter the trade.
We are currently looking for shorts. Main area is 3880-3950. Someone could try to play long scalp to this area but in our opinion it is too risky especially because we expect from it to be nothing but autotrading with the one main goal: to close as many as possible short positions and create atmosphere in the market ready for further decline.
Longs would come in play only if we reclain 4000 as a support. Even that would be nothing but great short entry from this point of view.
Considering that 2 most active alts in the last couple of days, ETH and TRON, went up because of fundamentals and that those fundamentals are going to end up in couple of days, we expect decline in altcoin market, especially ETH. In this market sentiment it is hard to expect to see BTC reclaiming 4000 price level and turning it into the support.
To your success, CS Team!
BTC dominance is currently at 52.3% (+0.7%). The total market cap is currently at $127.9 billion (- $9.1 billion). The market volume of the last 24h was $20.6 billion (-$ 4.8 billion).
Technical analysis
4h time frame : https://www.tradingview.com/x/v9Qq1ud6/
After BTC pumped into nowhere, being rejected by down slopping trend line, we saw big move down. If you check our analysis 2 days ago, you will see that our opinion was bearish after we saw the market reaction after pump to 4100.
Where next?
We have 2 area of interest at the moment. In our opinion, market is not that bearish to continue straight down. The number of shorts opened on Bitmex is 60% compared to 40% longs. It is too much and without stop run we do not think we will see further decline. What do we mean by stop run?
All these shorts have stop loss placed somewhere. Most of them used to place it tight not looking at major price levels. They will put it tight to prevent big losses not to get out of trade when price confirm that their hypothesis was wrong. They will place it in area between 3800 to 3950 depends what is their entry plan if they have any.
It means that we expect to see price climb in this area to trigger part of this stop losses and close part of those shorts. What is it going to cause in the market?
Simply, we will have less opened short positions, we will have a lot of closed short that are not close because they were wrong but because they placed stop loss too tight and it means that they will stay bearish. It will create market sentiment very bearish and that's the momennt we think price is going to start major decline to 3400-3500 price areas.
That's why we will wait for that scenario to happen and look for short entry. Perfect entry would be around 3900.
Another possible scenario is to see further drop from this triangle without any stop run and we do not give it too much chance and we are not going to trade that scenario trying to catch the falling knight.
If we see close below triangle, then we will look for retest of the triangle trend line to enter the trade.
We are currently looking for shorts. Main area is 3880-3950. Someone could try to play long scalp to this area but in our opinion it is too risky especially because we expect from it to be nothing but autotrading with the one main goal: to close as many as possible short positions and create atmosphere in the market ready for further decline.
Longs would come in play only if we reclain 4000 as a support. Even that would be nothing but great short entry from this point of view.
Considering that 2 most active alts in the last couple of days, ETH and TRON, went up because of fundamentals and that those fundamentals are going to end up in couple of days, we expect decline in altcoin market, especially ETH. In this market sentiment it is hard to expect to see BTC reclaiming 4000 price level and turning it into the support.
To your success, CS Team!
It is December 11th, 2018
BTC dominance is currently at 52.4% (+0.1%). The total market cap is currently at $123.2 billion (+ $4.7 billion). The market volume of the last 24h was $19.7 billion (- $0.9 billion).
Fundamental analysis
Warning: Crypto Scammers are Taking Advantage of Ethereum Hard Fork Concerns
Upcoming forks in Ethereum and Ethereum Classic have given opportunity to scammers. Two alleged “hard fork” versions are trying to steal money from users of both. Ethereum Nowa claims to be forking away from ETH. Ethereum Classic Vision claims to fork away from ETC.
https://www.ccn.com/warning-crypto-scammers-are-taking-advantage-of-ethereum-hard-fork-concerns/
Federal Reserve’s Jerome Powell “Very Worried” About Massive U.S. Debt
https://www.ccn.com/federal-reserves-jerome-powell-very-worried-about-massive-u-s-debt/
Why Blockchain Apps Just Aren’t Taking Off
https://www.coindesk.com/0-success-why-blockchain-apps-just-arent-taking-off
Technical analysis
H4 time frme : https://www.tradingview.com/x/ZVSn50hg/
We expected little longer consolidation period around 3750-3800 that was important daily price level but we went straight through that area.
We were waiting for stop run to enter after that but price simply just dropped without any attempt to even try to go up.
We are currently looking for new short entry because we think price may at least test the yesterday's daily low, maybe even drop to 3450 area.
As long as the price is above 3430 (as long as it closes above 3430 on daily or h4 time frame), these shorts are more like a scalps right now. We have some theory what should happen in the market but it will work only if 3430 stays unbroken.
So, currenlt we are looking for short entry with targets around 3450-3500 area where we will recheck our analysis to see if it could turn into swing or just close in nice profit at that target.
To your success, CS Team!
BTC dominance is currently at 52.4% (+0.1%). The total market cap is currently at $123.2 billion (+ $4.7 billion). The market volume of the last 24h was $19.7 billion (- $0.9 billion).
Fundamental analysis
Warning: Crypto Scammers are Taking Advantage of Ethereum Hard Fork Concerns
Upcoming forks in Ethereum and Ethereum Classic have given opportunity to scammers. Two alleged “hard fork” versions are trying to steal money from users of both. Ethereum Nowa claims to be forking away from ETH. Ethereum Classic Vision claims to fork away from ETC.
https://www.ccn.com/warning-crypto-scammers-are-taking-advantage-of-ethereum-hard-fork-concerns/
Federal Reserve’s Jerome Powell “Very Worried” About Massive U.S. Debt
https://www.ccn.com/federal-reserves-jerome-powell-very-worried-about-massive-u-s-debt/
Why Blockchain Apps Just Aren’t Taking Off
https://www.coindesk.com/0-success-why-blockchain-apps-just-arent-taking-off
Technical analysis
H4 time frme : https://www.tradingview.com/x/ZVSn50hg/
We expected little longer consolidation period around 3750-3800 that was important daily price level but we went straight through that area.
We were waiting for stop run to enter after that but price simply just dropped without any attempt to even try to go up.
We are currently looking for new short entry because we think price may at least test the yesterday's daily low, maybe even drop to 3450 area.
As long as the price is above 3430 (as long as it closes above 3430 on daily or h4 time frame), these shorts are more like a scalps right now. We have some theory what should happen in the market but it will work only if 3430 stays unbroken.
So, currenlt we are looking for short entry with targets around 3450-3500 area where we will recheck our analysis to see if it could turn into swing or just close in nice profit at that target.
To your success, CS Team!
CCN - Capital & Celeb News
Warning: Crypto Scammers are Taking Advantage of Ethereum Hard Forks
Upcoming forks in Ethereum and Ethereum Classic have given the opportunity to scammers. Two alleged 'forks' are trying to steal money from users of both.
Is it good to use volume as an indicator?
Using volume as an indicator is the part of trading strategies for most of traders.
What is actually a volume?
There are 2 ways to describe volume. One type is for normal crypto exchanges such as Binance and another one is for leverage trading excanges such as Bitmex.
On normal crypto excanges, volume represents number of traded coins. If you buy 10 Ethereum coins, the volume will be 10. So, it is number of bought or sold coins.
On the other side, volume on exchanges such as Bitmex where you are not buying a coin but buying or selling shares that represent the value of the coins. If you buy 1000 shares of Bitcoin on Bitmex thinking that the price will go up, the volume is going to be 1000.
Why should you consider using volume as an indicator?
Volume gives us very good insights of market sentiment. For the trend to continnue, whether it is uptrend or downtrend, you need constant buyers/sellers to keep that trend alive and best source for this information is volume that will say how many market participants are actually buying/selling.
If price is still in the trend, it is going up or downn but volume is dropping giving us sign that the buying/selling activity is dropping, it can be very strong sign of potential trend change since there is not enough market participants that are interested in trend to continue. They think it is overvalued or undervalued and then do not see reason to buy/sell.
On the other side, trend reversal traders see this as an opportunity for them to make money. If the market is not extra bullish/bearish because of some fundamental reasons, trend reversal has big chance to happen.
Volume as an indicator can give you some hidden signs that are not visible just following price action.
But...
There are hundreds of exchanges in the crypto world and every exchange has its own volume that is different from all other exchanges. Which one to follow?
Use the biggest exchanges as a reference. If you are too sceptical, check out top3 exchanges and it will be more then enough.
If you are trading on normal exchannges, use Binance as a reference and for margin exchanges use Bitmex. Best for you is to use the volume of the exhcange you are trading on especially for margin trading.
If someone is bullish, he will look for an exchange with big volume and make his analysis there to convince others that he is right. Same thing will happen if someone is bearish.
Do not do that. If you are bullish and price action and indicators you are using are showing that situation is not that bullish, maybe it is not that bullish. Do not be biased by some of your hopes. Follow what your trading system says. Worst thing is to be bullish or bearish without real reason and then to go in the market to try to find reasons for your bullishness/bearishness.
To conclude, volume has its value and that's why we think it is one of the indicators you should look for not for trading signals but just as a reference and potential warning sign. If there is no confluence between volume and price action, maybe it is time to recheck your previous analysis.
All in all, very useful indicator with a lot of value but do not use it to convince yourself that you are right. There is no space for egoists in the market. Leave your ego on the side!
To your success, CS Team!
Using volume as an indicator is the part of trading strategies for most of traders.
What is actually a volume?
There are 2 ways to describe volume. One type is for normal crypto exchanges such as Binance and another one is for leverage trading excanges such as Bitmex.
On normal crypto excanges, volume represents number of traded coins. If you buy 10 Ethereum coins, the volume will be 10. So, it is number of bought or sold coins.
On the other side, volume on exchanges such as Bitmex where you are not buying a coin but buying or selling shares that represent the value of the coins. If you buy 1000 shares of Bitcoin on Bitmex thinking that the price will go up, the volume is going to be 1000.
Why should you consider using volume as an indicator?
Volume gives us very good insights of market sentiment. For the trend to continnue, whether it is uptrend or downtrend, you need constant buyers/sellers to keep that trend alive and best source for this information is volume that will say how many market participants are actually buying/selling.
If price is still in the trend, it is going up or downn but volume is dropping giving us sign that the buying/selling activity is dropping, it can be very strong sign of potential trend change since there is not enough market participants that are interested in trend to continue. They think it is overvalued or undervalued and then do not see reason to buy/sell.
On the other side, trend reversal traders see this as an opportunity for them to make money. If the market is not extra bullish/bearish because of some fundamental reasons, trend reversal has big chance to happen.
Volume as an indicator can give you some hidden signs that are not visible just following price action.
But...
There are hundreds of exchanges in the crypto world and every exchange has its own volume that is different from all other exchanges. Which one to follow?
Use the biggest exchanges as a reference. If you are too sceptical, check out top3 exchanges and it will be more then enough.
If you are trading on normal exchannges, use Binance as a reference and for margin exchanges use Bitmex. Best for you is to use the volume of the exhcange you are trading on especially for margin trading.
If someone is bullish, he will look for an exchange with big volume and make his analysis there to convince others that he is right. Same thing will happen if someone is bearish.
Do not do that. If you are bullish and price action and indicators you are using are showing that situation is not that bullish, maybe it is not that bullish. Do not be biased by some of your hopes. Follow what your trading system says. Worst thing is to be bullish or bearish without real reason and then to go in the market to try to find reasons for your bullishness/bearishness.
To conclude, volume has its value and that's why we think it is one of the indicators you should look for not for trading signals but just as a reference and potential warning sign. If there is no confluence between volume and price action, maybe it is time to recheck your previous analysis.
All in all, very useful indicator with a lot of value but do not use it to convince yourself that you are right. There is no space for egoists in the market. Leave your ego on the side!
To your success, CS Team!
It is Jannuary 12th, 2018
BTC dominance is currently at 52.3% (-0.1%). The total market cap is currently at $122.5 billion (- $0.7 billion). The market volume of the last 24h was $15.4 billion (- $4.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/VrttOHZY/
Let's keep it simple, we had 3 stop runs nnot only for shorts but for longs too.
Choppy market is back again and what we think is that we will have one more move down and that best entry would be in mentioned short area.
Based on current market situationn, we do not expect to see that move down to go below 3400. We do believe that after that move down that we expect we should see some tests of 3800 maybe even higher levels where big short swing position would become very interesting.
The way market moves is nont the best for tradinng but we need to take best out of it.
Current situation:
Expecting move down more like a scalp not lower than 3400 and after that if something unexpected doesn't occure, we think 3800 at least should be tested.
To your success, CS Team!
BTC dominance is currently at 52.3% (-0.1%). The total market cap is currently at $122.5 billion (- $0.7 billion). The market volume of the last 24h was $15.4 billion (- $4.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/VrttOHZY/
Let's keep it simple, we had 3 stop runs nnot only for shorts but for longs too.
Choppy market is back again and what we think is that we will have one more move down and that best entry would be in mentioned short area.
Based on current market situationn, we do not expect to see that move down to go below 3400. We do believe that after that move down that we expect we should see some tests of 3800 maybe even higher levels where big short swing position would become very interesting.
The way market moves is nont the best for tradinng but we need to take best out of it.
Current situation:
Expecting move down more like a scalp not lower than 3400 and after that if something unexpected doesn't occure, we think 3800 at least should be tested.
To your success, CS Team!