Episode Highlights:
- 00:09 – Market Situation
- 00:33 – Market Analysis
- 01:25 – Using Coinigy Trading Platform
- 01:40 – Reason For Using Coinigy
- 01:55 – How To Trade On Coinigy
- 04:28 – How You Can Do Base Trading
- 06:41- Examples Of Chart Tanking
- 08:26 – More Examples Of Chart Tanking
- 09:40 – Bitcoin Gold
- 11:14 – Bit Tricks
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Transcription:
Hey guys, what’s up? its Dani again from cryptocamacho.com, and I wanted to jump on this video really quick to show you guys something going on in the market literally, right now as we speak.
00:09 – Market Situation
So, it’s November 20th, 2017. Today markets are taking for altcoins, markets are stabilizing and going up for Ethereum, and for Bitcoin. And I wanted to show you a couple of very-very specific buying opportunities that you could get into right now, or very-very soon here.
00:33 – Market Analysis
So, if you look at what’s happening to a Bitcoin right here’s a Bitcoin chart, here’s a number of trades I’ve made. And if you look at the price of Bitcoin, it has only gone up. It went dropped down to 5500 about when they call out the segments to hard work, and since then it has done nothing but go up to 8300 today cracked. And so, it’s going up right, there’s a lot of momentum in Bitcoin and when that happens when Bitcoin typically goes up altcoins typically go down, and that’s a big opportunity to buy. So, let me show you a few examples here; if we jump over to a chart called CBC it’s an altcoin CBC and Bitcoin. You can see what’s going on here, look at this there’s a huge-huge-huge-huge-huge drop right. And every time there’s a huge drop, there’s a buying opportunity because this is going to go back up in value. And let me show you exactly how I do this.
01:025 – Using Coinigy Trading Platform
So first, I use a platform called COINIGY. if you look at this platform I’m using right here to do my actual day trading, it’s COINIGY right here. Go to coinigy.com, or you can click on the link below in this channel and you’d go to quantity.
01:40 – Reason For Using Coinigy
So, the reason I use coiningy is because it brings together all different exchanges which you can see here on the left-hand side. There are over like 50 exchanges… cryptocurrency exchanges on the coinigy platform. And I can trade on any one of these exchanges on coinigy. That’s why I use coinigy. So, anyway more about that in a moment but let’s get back to the topic at hand.
01:55 – How To Trade On Coinigy
So, if I were to trade this, you know this is actually a really good opportunity to trade. I may wait for a little to see how it turns out but let me just show you what I mean. So, every time a stock…am sorry stock. Every time a cryptocurrency goes way up in value, that indicates there’s a level of supporting a base of buyers that are willing to invest in that cryptocurrency right. So, anytime you see the price of a coin going up and going really you know through the roof, it means there’s a lot a lot a lot of support for that particular coin. A lot of people believe that that coin, or that company is going to take off and be the next big thing for example. So, right here it was no different with CBC right. So, right here we see a huge pump price goes way up all the way from 3 6 all the way up 29% all the way up to the top here at 0.4656 right. Then we start seeing it kind of go down, we see support levels right here at about 0003911 goes back up a little and then it tanks right. So, anytime you see a base broke that is an opportunity to buy. So, let me show you exactly what I mean here. So, right here on our way up, we saw up-up-up-up then, we saw it come down here a little bit more. And right here we see the support right there right, and then it goes back up-up-up-up-up-up. Now let’s fast forward a few more days, you go over here you see that the base was cracked boom! Cracked right there and what do we see shortly after that, we see another spike right above the base right, because of there this right here this past base that was cracked. That indicates that there’s a level of support right. A level of confidence from the base of buyers, that that particular coin is going to go back up in value. and if we see the price going down to the last level of support, you know everybody who supported it last time and bought are saying wow! This is a great price; the price is all the way down at X in this case 3979 right below 4000 right. So, that is a psychological entry point for people who think okay, oh! Great I need to buy this. It just drops below 4000 I need to get in on it now. And that’s why you see this big spike right here. So, fast forward a few more days to today, and you’ll see this line right here right. This is what’s happening what did it do? It just cracks this base. So, within the next few days, and you got to look at the charts right. This is a one-hour chart. So, each of these lines is an hour. So, this has really been maybe you know a day right here, all this right in here has been almost a day about a half a day right. And in a day or two, we’re going to see a bounce back again above this bit.
04:28 – How You Can Do Base Trading
So, now the big question is this Where do I buy? do I buy right when it goes below the base? Or do I buy further down the base? And you can kind of see this chart moving in real time actually right now. What I typically do is, I will follow the one-hour charts to be conservative. You can do this in 15 minutes, charts 5-minute charts, but I don’t recommend it for beginners. I’d follow the one-hour chart, and typically anywhere between 10 and 20% below the last base. If it truly is a base, kind of 20% lower than the base is a great buying opportunity. So, in this case, let’s go to the last base, let’s measure, let’s go down here and let’s measure. Oh, I got to get back to here. Okay, so let’s measure the last base, we went all the way down about 89% right. So, anywhere in this circle right here would have been the prime buying opportunity. And it still technically is good buying opportunity right now, but you just have to keep in mind that you know the price could still go down. So, keep that in mind, but if you were to buy anywhere down in this area, you have a potentially good shot. That you know the odds are stacked in your favor, that it’s going to bounce back to the previous base levels right, that we’re seeing here.so that’s one quick tip on how you can actually do base trading and how you can day trade in the altcoin markets today. And now’s a good time right, because bitcoins are going up through the roof. Altcoins are going down pretty soon, that trend is going to reverse, and bitcoins are going to start going down. And altcoins are going to go upright. They kind of cycle back and forth, and that’s because when Bitcoin is going up everybody takes their money out of altcoins puts it into Bitcoin and vice versa. When Bitcoin is going down everybody takes their money out of Bitcoin and puts it in altcoins. So, that kind of leads to this up-and-down kind of what’s the word I’m looking for? [inaudible, 06:19] like effect right. So, you can see the price is kind of going up and down up and down up and down. And I would likely wait probably until the price got down a little bit closer to this space right here; which is about 3700, or even a little bit further but all of this technically, is safe buying territory. Just obviously that the lower you buy the bigger the opportunities.
06:41 – Examples Of Chart Tanking
Let’s go to one more example over here. Okay, so we see SLR now, this one is tanking very-very fast. There could be news out which is why this is tanking, or it could just simply be a panic. People are panicking because if something happened right. So, I would definitely look at the news before investing in this coin, but assuming there is no catastrophic news, assuming this coin is not completely going away, and completely out of business, or completely being delisted from the exchanges. This could represent a very-very good opportunity to buy. And again, why is that? Look at the basic right, so we see that the price did already go all the way down here to 0.45 a little below that right. The last base we see is at 62 which is right there, let me get rid of that, which is right here. And there’s another base right here. So, technically you know these are both pretty strong bases, this is right the stronger base and to be really safe. This is it and then you go down a little lower to these bases. So, it looks like it went down really to this last base right here, which typically or often is the case right. You want to wait till it does go down low enough before getting in now. If I would have reacted to this sooner I probably would have got in somewhere around here right, because I would have probably looked at this base and said okay, this is my base right here, and then 10 to 20% down here is all safe buying territory. But now look it looks like this coin is actually starting to go back up in value. So, that’s one thing just to keep in mind right. You got to act quickly on some of these things right. I just got new subscribers. So, that’s another example of another chart tanking that you could really take advantage of immediately right.
08:26 – More Examples Of Chart Tanking
Let’s go to another example. Let’s go to neo and wow it’s already looking like I was actually about to buy this coin, and I started recording this video because I wanted to show you guys what was happening. And it looks like I’m already a little bit too late. Again, the exact same thing so, where was our base right? Our base is right here and again another indication of the base right here. Two strong indicators of support the one right here, and the one right here right, both going down to a price of about 4 or 5. Another psychological barrier anytime we get to even numbers like a 40, 30, 20, 10, or to the 5, 45, 35, 25 those are psychological barriers for people to buy or sell depending on the momentum of the market, it’s going up or down right. So, this would have been you know this still actually could go down. So, I’d watch this a little bit closer, but if you were to get in here, you would want to get in anywhere below the base right. Whoops, let me get back to this, anywhere about right here right. So, this could still go down a bit it hasn’t really cracked the base all that much, although it did crack the base. And you see it’s going back up because there’s support at those prices right. So, again that’s another example of how to base trade.
09:40 – Bitcoin Gold
Let’s go to Bitcoin Gold not right here let’s find a different market for Bitcoin Gold. And the reason I want to show you a quick snapshot of Bitcoin gold, let’s do it in US dollars because people are saying I’ve heard. I don’t know if this is legitimate, I’m still trying to kind of get a gauge the market, but it looks like let’s see here I’m going to pause this video. So, you can see here Bitcoin gold is actually going up, and I literally just read maybe 10 minutes ago that people are now going to start substituting altcoins for Bitcoin gold. Meaning that rather than investing in altcoins when Bitcoin goes down, people are going to start investing in Bitcoin gold. I don’t know if that’s true or not. But it’s definitely something to keep an eye on. And right after I read that literally I see this so pretty interesting right. There’s a spike in Bitcoin gold right now as we speak. So, just wanted to make you aware of that, be watching that. Watch a Bitcoin gold, because it’s possible that people are going to start ditching altcoins for a Bitcoin Gold right now right. So, keep an eye on that, and this looks like it’s on the BitFenix exchange. If I had any money on BitFenix, I would probably trade this right now, because it looks like there’s a lot of momentum. And if we look over at these stochastic switches are another indicator that I use, and I’ll talk about a little bit more in a later video. You can see there’s a lot of upward momentum and volume that’s really going up and it’s going to carry this up. So, I would expect another five at least 5% or more on this before day end.
11:14 – Bit Tricks
So, let’s go back over to bit tricks really quick. That’s my primary exchange for trading. It doesn’t look like many people are trading on bit tricks, unfortunately. Let’s look at a couple others, let’s look at the Ethereum, no still not really trading all that. Well, let’s look at Finance. Let’s see here finance okay, it did go up and it’s going back down. So, there is a little bit of a difference between exchanges on different cryptocurrencies. You probably notice that if you’ve been doing any type of day trading whatsoever, but let’s just take a look at one more really quick at Bitcoin gold. Because I’m really curious if this is true. Yeah, it looks like Bitcoin gold is spiking. Let’s look at hit B let’s see, that’s a pretty good market. Yep! looks like it’s gone up a bit. So, I don’t know what’s going to happen with that, but I just wanted to point that out to you as well. But really take a look at these charts and look at the bounces that I’m talking about, because I think you will learn that this is very-very-very common. This happens non-stop in the cryptocurrency markets today. And that’s why training is so profitable today, because you can ride these waves of volatility up and down, up and down. And when bases break, it’s literally like the best time to buy these coins right now. And it does just take a little bit of a learning curve, but if you should keep watching these videos, you keep just dabbling in the marketplace. You know you’ll learn how to do this as well. Again, I can’t…you know tell you enough how much I use coinigy. I use coinigy literally every day. Every time I go to the markets, every time I trade, every time I buy anything, I go to coinigy right. And I trade on Coinigy, because it brings together all of the different crypto exchanges into one place right. And I can trade on any alt currency, on any exchange that I want because Coinigy brings them all together in one place. And that’s what I love about Coinigy. So, check it out if you want to go to Coinigy.com, or you can go to cryptocamacho.com forward slash coinigy. And I’ll give you a little tutorial on how to use the system. Anyway, I’m Dan from crypto Camacho I hope you found this useful? I hope you start day trading? I hope you check out coinigy. Hopefully, you make some profit on some of these spikes. if you have any questions let me know. I’d love your thoughts. we love them know if you use this method as well. And happy trading I’ll talk to you guys next time later.
