Tom - Bitcoin & Altcoin Speculator

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

@kaabar_sofien Hey @kaabar_sofien I am interested in buying the PDF of your books but this seems not to be possible on Amazon, I also can't seem to DM you, you mind sending me a DM?

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

One of the sexiest falling wedges I have seen in my life

#Crypto

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

@donalt Really appreciate the simple but accurate analysis you do Don. 👌

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Looking for long positions around 6k, but things aren't really looking good for $BTC.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

@DanBorovik https://t.co/T9rbyJwJW6 👌

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Interesting Ascending Triangle on the Altcoin Market Cap chart. A breakout to the upside may lead to a shortterm Altcoin rally.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Bearish divergence on the 6H invalidaded, there is still bearish divergence on the lower timeframes. Let's see where we are heading.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Potential bearish divergence on the 6H $BTC chart

- Should wait on the MACD crossover
- Let's see if this is a ''sucker's rally''

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

In this way, you get a better entry if it goes lower, while limiting the risk of a price decrease when finding the bottom.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

So many altcoins are on their bottoms in terms of USD or BTC. A lot of charts have a clear buy zone. The best strategy is to allocate a certain budget per coin, and scale in on certain positions, the lower it goes, the more you buy.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

One word: Respect

$DOGE

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Hence, either set stop losses, take profits or enter the market when a clear uptrend is confirmed (Use MA/EMA/Ichimoku)

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

On the other hand, the whole market is making a rising wedge/bear pennant formation. A downbreak will be bad for crypto in general.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Current state of the market.

- Breakout traders can wait for confirmed volume breakout of falling wedge.
- Current uptrend has slightly declining volume.
- No breakout leads to either sideways movement or a price decrease into the green box.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

@coin_signals Thank you for making this, now I can finally do TA on Bitconnect 🤑

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Waiting for a good volume breakout on ADABTC, chart looking very good. Let's see where it brings us. 🚀

$ADA #crypto #fallingwedge

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Rising wedge pattern on BTCUSD chart. Not hoping for a lower low, but such scenario may be possible.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

That is why hedging with either longs or shorts is interesting, in this way you can decrease your market exposure. Going long on two highly correlated assets is similar to trading with leverage.

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Found this correlation matrix on the internet. It is amazing how correlated the crypto market is, but it makes it hard to create a diversified portfolio. If you want more info on correlations, the correlation matrix can be found here:

https://t.co/FIWCUH3B4I

[Tom - Bitcoin & Altcoin Speculator @SwingTraderTom]

Looks like a double bottom to me on the $BCH to $BTC

Let's see where it brings us, always manage your risk in a bear market.

#crypto #TA #BTC