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Economy / Speculation / Close to BIG Breakout. Will it be $7K or $13K?
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on: September 03, 2019, 12:54:52 PM
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Let’s analyse in detail the technicals for BTCUSD . The price chart of Bitcoin suggests that there could be some more downside ahead.
The downward sloping linear channel, being formed on the daily timeframe , confirms that market sentiment becomes increasingly bearish . In addition, the triangle chart pattern, formed on the daily chart , implies that there is high uncertainty among traders as to the trend direction for Bitcoin over the short-term.
At the end of June, Bitcoin might have been way overbought, and since then has been making a series of lower highs, telling us that the buyers were getting a little bit less enthusiastic.
Now, the price is very close to a significant support level at $9,000, and the downside risk of breaking below $9,000 remains high. If Bitcoin to go below $9,000 per Bitcoin , it will be confirmed to go back down toward $7,000 or even lower.
Interestingly, over the long term, I strongly believe that Bitcoin is a good ‘buy’ opportunity and remain bullish on Bitcoin . In addition, if we apply the Bollinger Bands Indicator we can see that it is moving sideways, and the price is floating near the lower bound. This indicates the probability of a short-term price appreciation for Bitcoin may be high, versus the continuation of a decline.
Conclusion
The price is moving sideways and we should wait for either a breakout above the $10,500 or below the $9,000, to be able to make a substantiated trading decision.
Active Trade Signal
- Buy at $9,500
- Stop-loss at $9,000
- Take-profit at $11,000
- Risk/reward ratio: 1:3 (very attractive)
Additional Trade Signal
- Place a sell-stop order to sell Bitcoin at $8,850 (in case, the price breaks through and below the $9,000 level, the order will be executed).
- Take-profit at $7,500 (or higher, depending on your risk aversion)
- Stop-Loss at $9,500 |
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Economy / Trading Discussion / Why Bitcoin is Declining? And What’s Next?
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on: July 28, 2019, 11:08:19 PM
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Why Bitcoin is Declining? And What’s Next?
It’s important to emphasize that the current downward move we’re seeing right now is a corrective wave within an upwards trend, and not a trend reversal.
In case of BTC, a hypothetical decline below a significant support at $7,500 would send a strong signal of a possible trend reversal. The retracement we’re observing now is a ‘market noise’ - meaning, it is a short-term trading volatility that does not alter the long-term trend for Bitcoin . In bull markets, corrective waves occur regularly, since any price trend, by definition, consists of a series of waves and counter-waves.
Both technical and fundamental approaches to market analysis indicate a positive long-term outlook for Bitcoin. Currently, the price is adjusting downwards closer to its mean value (i.e. central tendency), which creates a good opportunity to buy Bitcoin with a ‘tight’ stop-loss, thus ensuring an attractive risk/reward ratio. The fundamentals of the Bitcoin network are improving every month - we are seeing increasingly higher numbers of Bitcoin active wallets, Bitcoin daily transactions, and Bitcoin hash rates, all of which indicate an increasing demand for Bitcoin . For example, an increase in the number of Bitcoin active addresses used is associated, by definition, with an increase in global adoption and use of Bitcoin. This translates into increased demand for Bitcoin, which leads to an increase in Bitcoin market price. Since the trend of improving fundamentals continues upwards, we’re expecting to see further price increases of Bitcoin . Active Trade Signal:
- Buy at $10,000
- Take-profit at $15,000
- Stop-loss at $8,000
- Forecasted P&L: $50,000 per 1 lot with 10x leverage
- Risk/reward ratio: 1:2.5 (very attractive) |
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Zero Commission Trading Is Now Live !
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on: May 17, 2019, 10:30:30 PM
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Zero Commission Trading Is Now Live on MONFEX Monfex has done a lot while pursuing our goal of democratizing trading - and we’ve just taken one more step! Starting now, and until July 1st, Monfex is offering ZERO commission trading! No commissions will be applied when opening a position, regardless of trade size.
Why are we doing this? Making trading and investing available to everyone is our goal, and right now, there’s a historic opportunity available in crypto trading - and that is the 2019 bull run. In the past three months, Bitcoin’s price has jumped more than 100% - and it doesn’t show any signs of stopping!
We don’t want this opportunity to go to waste, so we’re focused on making trading available to absolutely everyone. That’s what’s driven all of our product decisions so far, and it will continue to do so - so take advantage of zero commission trading on Monfex today!How do zero commissions help? Previously, when opening a position, 0.075% of the size of your trade had been retained as a commission. With zero commission trading, we’re removing this extra cost, meaning more money will be saved on your account and you’ll be generating higher returns in each trade!
We’ve already made trading more accessible with our easy to use interface and accessible learning materials to help anyone become an expert trader, so making our platform zero commission was the next logical step.What does zero commissions really mean? Zero commissions mean just that - unlike other platforms, who may take a commission every time you open or close a position, or even for just having an account, Monfex is charging you absolutely nothing!
Commissions can play a large role in deciding whether a particular trade is profitable, and even technically profitable trades can lose money after commissions and fees. But Monfex is taking away that extra calculation, and making sure that any profits you make stay yours.Trading on Monfex is easier than ever! We started Monfex with the goal of taking trading out of the hands of specialists and opening it up to everyone. We want to give all of our clients, and anyone who wants to trade, the opportunity to profit off of cryptocurrencies, especially when there are exciting bull runs like the one we’re seeing now in Bitcoin.
In addition to our zero commissions, we’ve made the process of trading as easy as it can get - and we’re hard at work making it even simpler!- Open an account in just minutes.
- Purchase BTC, ETH, USDT with your credit card
- Fund your account in seconds
- and
It’s as simple as that. Trading used to be limited to wealthy investors and major hedge funds - but with Monfex, you can now take advantage of major trends in the market, and turn a profit, without having to be an expert! Take advantage of our cash bonuses, zero commissions, and up to 50x leverage and maximize your profitability. |
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Alternate cryptocurrencies / Bounties (Altcoins) / 🔥🚀 ⭐Monfex⭐ - Get Creative And Win An iPhone XR! 🔥🚀
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on: February 08, 2019, 06:40:10 PM
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Get Creative And Win An iPhone XR!! We’re ecstatic to give away a brand new iPhone XR! If you’re the type of extraordinary person who likes to trade while on your motorcycle or even while hanging off the side of a mountain, let the world know! “Get Creative with Monfex!” by recording a video of your unique trading style!! JUST FOLLOW THE STEPS BELOW…..    The competition ends at 11:59PM GMT on February 28, 2019,
and the video with most amount of views will become the winner! Good Luck Everyone! *The Monfex trading interface needs to be visible and clear on your device.
**#tradewithmonfex is the way we gonna find the winner, so don`t forget to add it in the description.
*** Only entries submitted in English will be considered. |
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Bitcoin / Project Development / Beta-testers wanted on our dime
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on: October 03, 2018, 07:28:30 PM
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We are launching a new and exciting crypto trading platform called Monfex.com
The main benefits of Monfex are that clients can fund with Bitcoin, Euro or USD and trade perpetual leveraged contracts on 12 coins on a very user friendly platform.
The major coins like BTC, ETH, LTC will be offered with 50X leverage. The leverage on the remaining coins will vary from 1X to 20X.
Clients can take long and short positions on available coins versus BTC, Euro or USD.
We put a lot of work and though into our offering and now we want to know what you, the real experts, think.
We are looking for crypto traders that would be interested in checking out our platform with a pre-funded account and provide us some feedback.
Our mission is to make crypto trading simple and effective. So we want to know about your user experience, the trading experience and what features you would like to see added or removed.
We think that our product is amazing and will revolutionize crypto trading, but we welcome both positive and negative feedback.
Simply visit Monfex.com to sign up and request your pre-funded account.
Thanks,
The team at Monfex
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