Tag Archives: cryptocurrency

New Year trading outlook!

Current Cryptocurrency Prediction:

  • $NYXBT (Bitcoin), 11/20/18, bull trend signal. TSP (11/21)= 4409.72.

3-month chart. Current price for 4 symbol package = $7,500 quarterly.

Model notes: The was in good position for the November Bitcoin collapse, though the “catch the falling knife” buy (11/20 signal) was a little early, the downside momentum has dried up. The model is still in-synch with the trading.

Note: The following comments are based on using technical analysis to ‘flesh out’ our nonlinear trading signals. TSP is defined as the closing price on the day following the signal day.

Nonlinear Trading Themes:

  • Bitcoin forecast ($NYXBT): The model “falling knife” bull trend signal was a little early but not irrelevant as following trading revealed the downside momentum was drying up. There are some associated positive fundamental factors at work here too. The recent stock market drubbing (flight to quality), interest rate drop (asset valuation enhancement) and financial stress for Bitcoin miners (at the sub 4000 level) are all in play right now. And the outlook for the trade currently? 6000!

GH Garrett – Chief Market Analyst for ConquertheMummy.com  © 2015-2019, “Nonlinear trading signals that matter in bitcoin trading.”

It is hard to catch a falling knife!

Current Cryptocurrency Prediction:

  • $NYXBT (Bitcoin), 11/20/18, bull trend signal. TSP (11/21)= 4409.72.

3-month chart. Current price for 4 symbol package = $7,500 quarterly.

Model notes: The model caught most of the power slide, entering long just a couple days too soon. Still a look over the past three months reveals a very positive, prescient model.

Note: The following comments are based on using technical analysis to ‘flesh out’ our nonlinear trading signals. TSP is defined as the closing price on the trading day following the signal day.

Nonlinear Trading Themes:

  • Bitcoin Forecast (Bullish) ($NYXBT): The model took a swing at catching the “falling knife.” We got in a lot closer to the bottom than the previous top. Further good news is that the math indicates the 3700 level will provide stable support. Finally, recent downside volatility seems to be drying up.

GH Garrett – Chief Market Analyst for ConquertheMummy.com  © 2015-2018, “Nonlinear trading signals that matter in bitcoin trading.”

Model scores with recent short signal, issues a bull trend signal!

Current Model (version 4.0) positions:

  • $NYXBT (Bitcoin), 11/20/18, bull trend signal. TSP will be the close of Nov 21, 2018.

 

3-month chart. Current price for 4 symbol package = $7,500 quarterly.

Model notes: The model spent the majority of the last 3 months on the short side of the cryptocurrency market and it was that was definitely the side you wanted to be on. The model seems to be in synch with the market, and for a model builder, it is a good feeling.

Note: The following comments are based on using technical analysis to ‘flesh out’ our nonlinear trading signals. TSP is defined as the closing price on the day following the signal day.

Nonlinear Trading Themes:

  • Bull Trend Signal ($NYXBT): The cryptocurrency broke down after trading in an extended range. But after almost 2 weeks of fairly muscular selling, the nonlinear models indicate the selling pressure is over. Current bears may want to be looking to book some profits.

GH Garrett – Chief Market Analyst for ConquertheMummy.com  © 2015-2018, “Nonlinear trading signals that matter in bitcoin trading.”