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Took a Bitcoin Trading Position | Bitcoin & Ethereum Trading Analysis

We look at the Bitcoin Trading Charts and see where the price might be headed. Ethereum looks very different and we compare and do a trading analysis on both the top cryptocurrencies and find out what positions Frank took in his latest bitcoin trade.

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  1. Interesting, I've been in a short for 2 weeks now and also however am expecting 7K bottom…..6,400 is questionable but anything is possible in crypto.

  2. If you are going to provide TA for the channel, provide actual TA. All you did here was explain what you are personally doing based on candles with zero context or explanation. To sum up the first 8 minutes on BTC "TA" you said things like "this candle didn't look good" and "lower highs and lower lows" as if the viewer knows exactly what you are talking about. You failed to use TA indicators such as RSI, MACD, EMA/MA's or fibinachi channels effectively for a viewer to understand to back up what you are saying and why you expect it to drop where you believe. You drew some fibs but you did them in time frames that didn't make any sense that had already happened. Please don't take this as pure hate criticism, I'm trying to help you present TA to an audience that may not understand a word you are saying…and you failed on this one. But that's okay, you are new to this so let's make you a better presenter.
    Now, with all that said, I think you are wrong and I'll tell you why. Let's look at the most basic TA using the two most important moving averages in TA, the 200 Daily and the 20/21 Weekly. Add in the 50 daily, 100 daily on top of those then check your VPVR for the most traded level since the run up to 14k which started the week of Jan 28, 2019. What you will see is a confluence of all of those meeting in the same general area, $8k. That level also happens to be a historical psychological price point as well. If BTC convincingly breaks and closes under $8k, I would be shell shocked because it'll take a MASSIVE amount of volume to break through all that support. Possible…but unlikely. If I were to guess, the bulls are F'ing with everyone to panic sell because we just had the halving and they want as much cheap bitcoin as they can get before the next bull cycle really gets underway. Don't fall for it and sell. That would be idiotic (in my opinion). Unless you hold a significant amount of bitcoin, the difference between 9k and 8k is negligible when you consider the next bull run is about to go off…it's not worth the risk. HODL that shiz. (not financial advice)

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