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

Altcoins had been inching their manner 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 underneath $nine,000, as worth strikes sideways.


Section 1: Putting in the industry

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

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

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

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

Access Thought

A member of the TexasWest Capital Discord requested me to chart XLM a couple of days ahead of, and I recognized the .00000797 (sats) space as a spot that I might believe purchasing. In a wonder announcement, the Stellar Lumens crew determined to burn 50% of the coin provide, inflicting a big and speedy 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 beef up fairly than simply purchasing the breakout. As can also be noticed in the second one chart under, XLM worth got here again and examined beef up, 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. This can be a 15-minute chart, a time period I infrequently make the most of. On the other hand, in a transfer this massive and speedy in line with information, the cost used to be not likely to retest over an extended time frame, so I used to be keen to industry this smaller time period.

I infrequently FOMO into positions, however I noticed the 50% burn as a sound catalyst and anticipated the cost to probably pull off a completely huge pump. When the basics line up with the chart, you typically 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 right 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 end the highest of the transfer. So that you could catch a 2nd pump, I reentered at .00000870 (sats) however in the end stopped out of this industry with all of 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 remaining closed at .00000870 (sats) for a benefit of eight.75%

Section 2: Putting in every other XLM industry

Access: .00000797(sats)

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

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

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

Access Thought

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 beef up is a most likely position for a soar if the cost goes to proceed up long term. I will be able to proceed to replace this industry in long run 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)

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

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

Access Thought

VET has traditionally been certainly one of my favourite property to industry, so I’ve been staring at it for months. I recognized .00000050 (sats) as the important thing space that, if damaged, would sign that worth used to be prone to proceed up. Different spaces of most likely resistance (objectives) are proven at the weekly chart under. I additionally drew a descending resistance, which worth 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 beef up to go into. I entered at .00000050 (sats) in line 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 placement at .00000062 (sats), my first goal, a 24% acquire. The remainder of the placement stays open, looking forward to an opportunity to hit upper objectives. I will be able to stay this industry open for so long as Bitcoin stays solid.

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 quite a few 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 fundamental setup proven under. I will be able to replace this within the subsequent magazine. I additionally nonetheless cling positions in Dogecoin (DOGE) and Holo (HOT), which I will be able to 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 chance. You will have to behavior your individual analysis when you make a decision. window.fbAsyncInit = serve as () ; (serve as (d, s, identity) (record, ‘script’, ‘facebook-jssdk’)); !serve as (f, b, e, v, n, t, s) (window, record, ‘script’, ‘https://attach.fb.internet/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘observe’, ‘PageView’);

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