*You can short and long Bitcoin here these trade ideas with me on Bitmex.
Oh Bitmex, the website where many try there luck without having a single idea of how margin trading or leverage works. Well I am here to change that with this series. We will go through every altcoin available for futures trading and do some analysis on it. The trades and the ability to stick to a plan will of course be on you. I do this every week for myself so I can pick and find trades without any hesitation. My bet is always the same, depending on your capital you can risk 0.01 to win 0.02, 0.1 to win 0.2, or 0.5 to win 1 Bitcoin. You bet whatever you are comfortable with losing. Defense first. Higher bets require a bit more finesse on bitmex and those strategies will be for another day.
Let’s get started.
Markets only trend 15% of the time. Meaning 85% of the time they will be sideways. The bet stays the same, you manage risk, jump in and get out. For example, as I have longs from around 8k pending, sometimes I may want to take advantage of short term sell signals or trade the current trading range. The chart below shows what I will be looking for. It is of course up to you to trade correctly and learn to manage risk.
BCH- Boat party over? Time to continue pumping…
Bitcoin Cash has a lot of good news coming out for it. Based on the chart its at a critical spot, could be worth eyeing up a potential long here this week.
ADA- Downtrend correction stalling out?
ADA has corrected pretty hard and it makes sense to establish a long position. The r/r is decent because of where we are on the chart. If the short term trend does reverse you stand to make quite a bit of money. Also its nice to zoom out on the chart to see the overall forecast.
ETH- TRAP or is it really in trouble…
Ethereum has been in this sideways chop for weeks now. The market seems to be waiting for something. Could this be actual distribution or is it just waiting for a spark to squeeze shorters and continue the uptrend. I made plenty of money longing eth back when it hit bottom. Currently, I am looking to see which way it breaks and follow the trend either way. Its hard for me to believe this will be a major move downward for ethereum. There are less barriers to enter this space now, and “etherium” is becoming more well known to the general public looking to invest.
LTC- Litecoin continues to do absolutely nothing, making me want to long
Just look at this LTC chart. It has been following this same pattern over and over again. I don’t really care what I trade, as long as I can make money and I see a decent r/r trade ready to go. I will take it.
XRP- When everyone forgets about Ripple, usually its a good time to get back in.
There could be a buy signal for xrp this week. Traders should keep a watchful eye to see how it reacts near support. If there is enough volume and markets start to show some more recovery, it would make sense to scoop up some xrp. Remember around 4/20 when we had our bull spike, xrp was one of the coins that usually offer a strong r/r.
Want More Trade Setups Ideas & Analysis? Sign up to my newsletter. Only newsletter subscribers will have access to my upcoming public discord, so make sure you sign up here, we will discuss potential trade setups and provide detailed chart analysis on major altcoins, and bitcoin.