BTC weekly close brought indecision to the market and what we see now is confirmation of bearishness behind previous weekly candlestick.

It is on the way to testing the first area of support. We will monitor price action around that are on H4 and D1 time frames and close below would be trigger to take short position on Bitcoin.

This is how weekly level looks on daily time frame. This is reason why we find this price level crucial for upcoming days.

Close below would trigger selloff and we do believe we would see low 7k very soon.

So our eyes are looking for close on daily or h4 time frame below this level (8200) and then we would take that short position.

If we see rejection from that level, we will turn our bias and start looking for longs. So we are now waiting for that level to be reached and then to see what it will bring to the market.

Ripple didn’t close weekly above the required zone which makes today’s move potential trap.

Our signal long entry signal was between 4900 and 5100 so we are still in nice profit but because we didn’t get confirmation on weekly which is very important, this daily move up could be trap easily so we have two suggestions for you.

The first one is to tighten up your stop loss and put it just below 4900 (the previous stop loss was 4600).

The second advice you can take is to take some profit now and keep stop loss at around 4800 to protect yourself from potential downside spikes.

It is still bullish but because weekly didn’t give us very important confirmation, we will take required measurements and tighten up our stop loss orders.

We will keep our eyes on this and update you if we decide to fully close positions or maybe if something bullish happens to even add more.

ETHBTC printed big doji on weekly that would be bullish sign but the close below very important MA is the signs bulls shouldn’t ignore.

Our eyes are on this price level marked on the chart (0.031 BTC).

To enter long, we need price to go 3-5% from this area and form some strong bullish sign.

We won’t short this but if we close below this area, we will wait for price to reclaim it and then take long.

Here is a little sneak of our paid channel. Today we had an amazing setup but entry was missed for less than $5.

Totally transparent, we missed entry but found amazing setup and next one will have better timing.

Onto the next one ...

Let’s do new Q&A

Send your questions to @CryptoSignalsAdmin and I will pick this time 3 of them and here in the channel.

Let’s start it!

1) When u have a $1000 account and want to depend on your signals, is it possible to double the account within a month?

If I would like to take your money, I would say Yes but the real answer depends on you.

I have very different trading approach from the rest. I am Bitcoin maximalist and I do believe in its future rise and that’s why I focus on growing more Bitcoin and I would not take big risk that will endanger my holdings because losing at the moment couple of hundreds may be couple of thousands in near future.

It means I take high probability trades when the happen. It may take couple of day even weeks for them to happen. That’s my personal style.

But for the group I do also day trading setups where I analyse intraday price action and give high probability setups.

My focus is giving you setups with profitable risk-reward because that’s all I can do. If I send you setups that make 20R a month, your risk limit per trade will decide how much you will make. If you risk 1% per trade, then your profit will be 20%. If you risk 5% per trade, you will make 5 times more, 100%.

So my focus is sending high probabbility setups with nice risk reward and it is up to you to decide what risk you will take on these setups.

So if you will risk 5-10% per trade, then it is possible but that’s not the risk I use and suggest others to do.

Hope it helps!

2) Hey there, where do you think a newbie should start? What are the logical steps a newbie should take to get a good grip of basic understanding of crypto trading?

I think newbies has to invest in crypto by buying Bitcoin and splitting part of the investment in Ripple and Ethereum. By doing this you are making sure that you are not missing out on this technology and money revoluition.

Then you have to start reading about trading and in the same time saving money for your first trading deposit. It should be the money you can afford to lose and different from those you put in BTC/ETH/XRP.

Then once you made your first deposit, you need to decide your goal. Growing BTC amount of USD amount. Once you make that decision, start with higher time frames suchs as weekly and not going below daily time frame. So you start as a swing trader and slowly getting the grip.

This will aslo allow you to have time for your other occupations while trading. If you see that trading is for you and that you are performing well, you can start adding more until your monthly profit exceeds 3 times your monthly salary. Then you can start thinking of leaving 9-5 and becoming full-time trader.

Hope it helps

3) Whats your idea about bitcoin in jan 2020?

I won’t try to pretend that I have crystal ball but you do not have to be very smart to see where we are heading. Once we pass $15k, new all time is coming with first target at $25k.

That’s all I can say from technical point of view and I would not like to specify any date because I would be guessing which is not the way investing/trading should be done.

4) Tesos... thoughts? I have a buy set for 1 USD

This coin was pumped by random Twitter “influencers” that claim that this coin has the value.

I didn’t make my own research but looking on the volume, I can see this coin has not that big volume so it can be pumped easily by couple of tweets.

So be careful when buying pumped coins and make sure to have exit plan in case it goes against you because it can easily fully retrace to the beginning of initial pump and go even lower.

Looking at Tezos/BTC pair, one line is enough to describe current situation. Close below line will trigger selloff of 20-30% at least.

Looking at Tezos/USD pair I would place buys in the area between $0.9 and $1.0 if I were you. But since I do not like the reason it went up, I am not interested in trading this coin.

Hope it helps

5) How to join premium membership?

Initial paid channel was priced at $1000 and we closed it when we reached 500 members.

It is not opened at the moment but it will be in near future.

We are adding new features to the content of our channel and after testing with existing members, we will reopen the channel for new members.

We will change the price and membership duration. We had only lifetime membership but now we will have with monthly and yearly membership for new members.

If you are interested in joining, you can send us message to @CryptoSignalsAdmin and secure your spot once we start again because we will have again limited number of spots so we can provide value to every member equally without neglecting anyone.

We said 3 but we shared 5 answers. Thank you all for reaching out. Back to chart work and new setups for our paid and free members.

Hope this Q&A was helpful and insightful. Let me know your opinion @CryptoSignalsAdmin.

Enoy the rest of day, Crypto Signals Admin!

Yesterday our setup get frontrunned by less than $5 and dropped $250. Then we saw pullback straight to our area and massive drop of $800.

Yeah, market is extremely bullish and move from $3500 was amazing but it does retrace and we are very proud to be one of the rarest that suggested our members to look for short side.