Analysis
Bitcoin is Close to Topping Out in the Short-Term
Bitcoin is the toast of the town, with prices closing in on the five-figure mark. At current prices, the rally has covered a huge distance in 2017. On January 1 of this year, bitcoin opened trading... You must be logged in to keep reading.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Analysis
Technical Analysis: Ripple Cracks, Bitcoin Tumbles, as Ethereum on Top Again
After yesterday’s chaotic session, the crypto-segment had a calmer day, although the second half of it got heated again, as Ripple turned sharply lower and Bitcoin also declined. Most of the other... You must be logged in to keep reading.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Analysis
Technical Analysis: Coins Suffer Blow on Chaotic Session, Ethereum and NEO Hold Their Ground
It has been a controversial session in the cryptocurrency segment as the day seemed like the replay of the pre-Christmas mini-crash, and most of the majors traded sharply lower compared to Sunday’s... You must be logged in to keep reading.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Cryptocurrencies
Spectre And Meltdown Madness: What It Means For Ethereum
To anyone who talks in terms of a cryptocurrency bubble, consider the following fun facts. In the short period of a few days following the bombshell announcement of Meltdown and Spectre, crypto... You must be logged in to keep reading.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Chris G
November 27, 2017 at 6:27 pm
Fantastic article Rakesh, and good call on ETH – I’m largely moved out of BTC and into alt-coins. The main risk for me is correlated correction with bitcoin, so I’m in more of a defensive position atm in terms of protecting profit.
Rakesh Upadhyay
November 28, 2017 at 3:23 am
Hello Chris,
Thank you.
I believe it is a wise decision to be defensive when investors throw caution out of the window. Yes, we may lose a few points, but we shall also lose less when the markets turn down.
As Jeff Saut of Raymond James says often “There are old traders” and “There are bold traders”, but “There are no old and bold traders”.
With warm regards
Rakesh Upadhyay
jf5585
November 28, 2017 at 1:09 am
The last 2 times that Bitcoin corrected, wasn’t it to with the China ban and also the fork cancellation? When there are no external influences, it seems nothing seems to stand in it’s way? $10k is a milestone number which may make some people want to sell. But is looking at past corrections (which were down to external influences) to analyse the future that relevant here?
Rakesh Upadhyay
November 28, 2017 at 3:31 am
Hello jf5585,
You have a good point there.
In my experience, I have found that when the markets are overextended, it latches on to some news and starts a correction and I have found that such occurrences happen at important technical levels.
Therefore, technical analysts still get a lot of their forecasts correct.
Hence, I would be careful at $10000.
Notwithstanding, what you say may also be correct. $10,000 may prove to be a temporary stop after all and I might be proven wrong. Hence, I have suggested booking profits in batches and not at once. If markets continue their upward momentum, we can wait to sell the remaining positions.
With warm regards
Rakesh Upadhyay