The price bounces from the support zone formed by 300.00 and 280.00 levels. MACD and RSI form a bullish divergence. It's a trend reversal signal. The market is going to reverse and we can expect further upward movement. It's buy opportunity. Pending orders must be placed above 320.00 resistance level. Stop orders can be at 270.00 level. Profit target is 400.00 level and a part of trading volume can be left for long run.
why is the gap so large between Bitfinex and GDAX. Bitfinex was at 300 while GDAX was at $325. I take it you follow Bitfinex?
janski
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Seems like a pretty big stop loss and poor risk reward ratio you're suggesting here. Not saying the trade won't work, but hey, from 320 to 270, that's a 15% loss.
DLavrov
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@janski, use small trading volume firstly. Your drawdown won't be 15%.
janski
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@DLavrov, I agree position sizes should be kept small to give yourself the best chance over the long term; having said that, I'm sure you agree that risk/reward is my preferred edge. The way I understand your point is: Even if you have a coin that is only biased to one side 55% of the time, by keeping the bets small, you will, over time grow your account exponentially. All I'm saying is, I prefer safer trades.
bilenyok
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@DLavrov please update eth analysis. Should we sell at this point? Do you think next leg up after the swing lower or directly up?
bcsebastiaan
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What's the easiest way to convert the USD prices into BTC prices for trading on exchanges like Bittrex?