Home / Cryptocurrency / Bitcoin Price Diary Long Bitcoin, Bullish on Altcoins XLM, VET, ONE

Bitcoin Price Diary Long Bitcoin, Bullish on Altcoins XLM, VET, ONE

Altcoins were inching their approach deeper into my buying and selling regimen and this 7th access of the crypto buying and selling magazine includes a newly opened place on VeChain (VET), in addition to a well timed purchase of Stellar Lumens (XLM). I’m nonetheless lengthy on Bitcoin (BTC) from beneath $nine,000, as value strikes sideways.


Section 1: Putting in place the industry

Entries: .00000800 satoshis (sats), .00000870(sats), .00000797 (sats)

Objectives: zero.00000940 (sats), .00001044 (sats)

Prevent loss: The primary forestall loss used to be set at .00000781 (sats) at the breakout. As same old, I transfer this as much as observe the cost when required.

Possibility / praise: Goal 1 = 7.37, Goal 2 = 12.84

Access Concept

A member of the TexasWest Capital Discord requested me to chart XLM a couple of days ahead of, and I known the .00000797 (sats) house as a spot that I’d imagine purchasing. In a wonder announcement, the Stellar Lumens crew made up our minds to burn 50% of the coin provide, inflicting a big and rapid upside transfer, which brought about my alarms at .00000797 (sats) to move off. 

My most well-liked technique is to shop for the retest of a key resistance as improve slightly than simply purchasing the breakout. As can also be noticed in the second one chart beneath, XLM value got here again and examined improve, which is the place I entered.

I set my purchase orders at .00000800 (sats) as a substitute of .00000797 (sats), simply in case that line used to be front-run. It is a 15-minute chart, a time period I hardly ever make the most of. Alternatively, in a transfer this huge and rapid in keeping with information, the cost used to be not going to retest over an extended time frame, so I used to be keen to industry this smaller time period.

I hardly ever FOMO into positions, however I noticed the 50% burn as a sound catalyst and anticipated the cost to doubtlessly pull off a fully large pump. When the basics line up with the chart, you normally have to transport in no time to catch it.

XLM BTC daily chart. Source: TradingViewXLM BTC day-to-day chart. Supply: TradingView

XLM BTC 15 minute chart. Source: TradingView

XLM BTC 15 minute chart. Supply: TradingView

I straight away set my take benefit for part of my place at .00000940 (sats), a space I noticed as a key resistance. Inside an hour, the cost hit this line and dropped, which used to be in the long run the highest of the transfer. So as to catch a 2nd pump, I reentered at .00000870 (sats) however in the long run stopped out of this industry with all the place at that very same line when the cost dropped.

The way it labored out

I made 17.five% on part of this place in lower than an hour, an excessively a hit industry in my thoughts. The rest closed at .00000870 (sats) for a benefit of eight.75%

Section 2: Putting in place some other XLM industry

Access: .00000797(sats)

Objectives: zero.00000940 (sats), .00001044 (sats)

Prevent loss: .00000781(sats) at the breakout.

Possibility / praise: Goal 1 = eight.94, Goal 2 = 15.five

Access Concept

That is successfully a 2nd spherical of the similar industry, with the primary retest of the .00000797 (sats) line on a bigger time period. The FOMO has handed, so this key improve is a most probably position for a leap if the cost goes to proceed up long term. I can proceed to replace this industry in long term journals.

XLM BTC 4-hour chart. Source: TradingView

XLM BTC Four-hour chart. Supply: TradingView


Access: .00000050 (sats)

Objectives: zero.00000062 (sats), .00000080 (sats), .000000102 (sats)

Prevent loss: .00000781 (sats) at the breakout.

Possibility / praise: Goal 1 = eight.94, Goal 2 = 15.five

Access Concept

VET has traditionally been certainly one of my favourite belongings to industry, so I’ve been looking at it for months. I known .00000050 (sats) as the important thing house that, if damaged, would sign that value used to be prone to proceed up. Different spaces of most probably resistance (goals) are proven at the weekly chart beneath. I additionally drew a descending resistance, which value broke obviously at the weekly chart. 

VET BTC weekly chart. Source: TradingView

VET BTC weekly chart. Supply: TradingView

Just like the XLM industry above, I waited for a retest of resistance as improve to go into. I entered at .00000050 (sats) in keeping with this retest at the Four-hour chart.

VET BTC 4-hour chart. Source: TradingView

VET BTC Four-hour chart. Supply: TradingView

The way it labored out

I’ve already taken benefit on part of the location at .00000062 (sats), my first goal, a 24% achieve. The remainder of the location stays open, looking forward to an opportunity to hit upper goals. I can stay this industry open for so long as Bitcoin stays strong.

BTC/USD replace

I finished out of my two-week-long Bitcoin industry at a small loss this morning when the variety lows have been damaged. I had a number of alternatives to take some benefit, so this used to be a poorly controlled industry in my thoughts. Looking back, I will have to have exited when the cost used to be obviously rejected on the equilibrium of the buying and selling vary (dashed line). The main points of the industry have been described within the earlier research. This amounted to a 1.2% loss at the place and a negligible portfolio loss.

BTC USD 4-hour chart. Source: TradingView

BTC USD Four-hour chart. Supply: TradingView

Further trades:

ONE BTC daily chart. Source: TradingView

ONE BTC day-to-day chart. Supply: TradingView

I’ve additionally entered a place on Cohesion (ONE), with the elemental setup proven beneath. I can replace this within the subsequent magazine. I additionally nonetheless cling positions in Dogecoin (DOGE) and Holo (HOT), which I can replace when the cost motion main points such an replace as related.

The perspectives and reviews expressed listed here are only the ones of the (@scottmelker) and don’t essentially mirror the perspectives of Cointelegraph. Each funding and buying and selling transfer comes to possibility. You will have to behavior your personal analysis when you make a decision.

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