Bitcoin Algorithm Report (Crypto). Tuesday June 19, 2018. Includes Time Cycles, Price Targets and Buy / Sell Triggers.
$BTC $BTCUSD $XBTUSD $XBT $BTC.X $ETH $LTC $XRP #Bitcoin #Crypto
Hello, my name is Crypto the Bitcoin Algorithm. Welcome to the member edition Bitcoin trade report for Compound Trading.
Like our other algorithmic chart models, I am in development and testing for coding phase to be used as an intelligent assistant for our traders. My algorithm charting model is specifically suitable for the use and purpose of trading Bitcoin $BTCUSD, Bitcoin/USD perpetual swaps $XBTUSD, Bitcoin related equities and you will find additional preliminary algorithmic modeling for $ETH, $LTC and $XRP in this report.
Note: The $XBTUSD (Bitcoin swaps) model is built on a chart from BitMEX. Prices on other exchanges may vary slightly from what you see on the model, so remember to keep that in mind when trading the model.
- Our 24 hour crypto trading desk was launched May 15 – over time this team will start alerting to feeds. This team of three is also responsible for the development and coding of our algorithms and alerting to realtime Twitter alert feeds. Read more here; https://compoundtrading.com/whats-new-at-compound-trading-april-may-2018/
- More extensive chart models for $BTCUSD, $ETHUSD, $XRPUSD, $LTCUSD and others (such as a few bitcoin related equities) will be featured in future reporting.
- Join us in our private Crypto Trading room server on discord!
- For newer users – read the blog post about how to trade Bitcoin here.
Primary Methods of Bitcoin Trade:
The primary method of trade we have found works with the most predictability is to wait for bitcoin to breach the upper right wall of a quadrant (the orange, blue or grey diagonal dotted lines – the thicker lines are more significant as they represent wider time-frames) and confirm over the next horizontal Fibonacci resistance. You can expect to get to reach the mid-line of the upper quadrant – over the mid-line you can expect it to reach the next quadrant wall. Entering this trade near the apex of a quadrant (time cycle peak range for a specific time-frame) gives you the widest trading range probability.
This method also works in reverse: Wait for Bitcoin to breach downward through the upper left wall of a quadrant, or fail when trying to breach upward through the upper left quadrant wall. Let it confirm under the next horizontal support and you can expect to see the mid-line of the quadrant – under the mid-line you can expect to see the next quadrant wall. Same as above, entering this trade near the apex of a quadrant gives you the highest probability of the widest trading range.
Channels: Another high probability trade is entering long as price rides up the bottom right wall of an orange quadrant. This is a safe trade to hold with a stop under the quad wall until the current time cycle expires. This trade works in reverse as well. You can enter short just under the upper right quadrant wall resistance, with a stop just over the quadrant wall, and hold until the current time cycle expires.
Horizontal Fibonacci Support/Resistance: The horizontal support/resistance lines are good indicators to use inside quadrants. The light green 0.5 Fibonacci line and the grey 1.0 or 0 Fibonacci levels (mid-lines) are the most significant. Clusters of these lines represent significant support/resistance as well. Intersections of horizontal and diagonal Fibonacci lines represent an upcoming decision and create a high probability of a significant move out of sideways trade.
Resistance Clusters: Along with the algorithm indicators on the chart there are traditional support/resistance lines that are very important. When these lines converge volatility tends to increase. Under the cluster is a high probability short. If it does get through the cluster it becomes a very high probability long scenario as the HFT algos cover their shorts and load up long.
Targets: Red circles on charting. These are placed at the most likely price targets in time cycles / trends relative to quads. These are still in very early stage of development/testing and should be used for observation only at this point. Two are typically provided for each quadrant time frame – the upper scenario targets should be considered if the trend is up and likewise for the lower. I do not recommend entering trades based on these targets. Also, at times the mid quad support / resistance line is highlighted with a target if trade is not extremely bullish or bearish.
Natural / Historical Support/Resistance: Natural / historical support and resistance is represented on the chart by purple horizontal lines.
Conventional Charting: Conventional charting should be weighed against the model(s) with all trade decisions.
In summary, our first generation Bitcoin algorithm chart model uses the following indicators (listed from most predictable to least in terms of win rate):
- Trading range created by long term algorithmic modeled quadrant support and resistance (blue dotted lines)
- Trading range between buy/sell trigger levels (grey/green arrows and solid lines)
- Directional channels formed by long term algorithmic modeled support and resistance
- Horizontal Fibonacci support and resistance (multi-colored horizontal lines)
- Conventional Natural support and resistance (purple horizontal lines)
- Long term conventional trend lines (red diagonal lines)
- Conventional MA’s
Bitcoin Algorithm – Daily Chart (Suitable for Swing Trading):
Click link to open initial chart viewer screen, then share button at bottom right of screen, then make it mine, then double click on chart body to hide or reveal indicators at bottom of chart (MACD etc).
Bitcoin Algorithm. Watching for a turn up prospective channel.. 247 AM June 19 2018 $BTC $XBTUSD #Bitcoin #Algorithm
Bitcoin Price Targets on Daily Chart Model ($XBTUSD):
Trading 6688.50 intraday;
July 4 Bitcoin Price Targets:
Bearish 5902.00 (out of current algorithmic channel not yet tested)
Extreme Bullish 17745.00
Bitcoin Trading Plan (Observations / Chart Indicators):
June 19 – My current bias and trading plan is exactly what it was last report (range bound trade)
June 11 – If Bitcoin $XBTUSD dumps lower than 5900.00 then high probability it continues in down channel (illustrated down channel with yellow arrows). It holds and up channel is in play (also illustrated on charting).
On the daytrading chart below it seems too early to comment on a bias… looking for structure to build.
My personal bias is it should turn up channel, conventionally that makes sense in trading after a dump, however, the 5900.00 is key as a mid quad area.
A few tweets / comments in private Bitcoin member serve recently reflecting my bias:
And we’re there 🙂 Bitcoin $BTC #BTCUSD #Bitcoin #Charting #crypto
— Curtis Melonopoly (@curtmelonopoly) June 10, 2018
June 4 – No change.
May 30 – As with May 21 report trade is sideways but is now about to test algorithmic charting channel support.
May 21 – Trade is in sideways action recently but still in uptrend channel.
Bitcoin Algorithm. 30 Minute Charting (Suitable for Daytrading BTC).
Bitcoin Algorithm. Daytrading chart with buy sell triggers (white arrows) 325 AM June 19 2018 $BTC $XBTUSD #Bitcoin #Algorithm
Per last report the main watch here was the 200 MA – price now has the ma so this is on high watch now.
Bitcoin Algorithm. Daytrading chart a bit sloppy but levels in play. Watch the buy sell triggers (white arrows) 848 PM June 11 2018 $BTC $XBTUSD #Bitcoin #Algorithm
The 200 MA coming down to meet price at top of chart (pink line) seems an important watch as it has been tested as resistance in this time-frame and previously failed. If price regains the 200 MA then likely we see a reversal.
Bitcoin Trading Plan – Long adds scenario, trim in to mid quad resistance (white arrows at key Fibonacci resistance lines) add above to next. June 3, 18 714 PM #Bitcoin #Algorithm 2018 $BTC $XBTUSD
Recent Bitcoin Real-Time Trade Alerts / Charting Set-up Alerts
If you are reviewing this newsletter (as a historical unlocked post) and not a member of our service and would like a tour of our private discord server (trading chat / alerts etc) or our private Twitter member $BTC alert feed let us know. You can check out our call rate for yourself. Transparent trading is important to us.
June 19 – Alert examples will be updated soon.
June 11 – Alert examples will be updated soon.
June 4 – I will update recent alerts soon.
May 30 – I will update recent alerts soon.
May 21 – I will update recent alerts soon.
Intra bottom call. White arrow – alert sent. Green arrow – buy trigger. Red arrow – resistance (mid quad) on chart per alert sent. $BTC $XTUSD #Bitcoin #Cryptotrading
— Curtis Melonopoly (@curtmelonopoly) May 20, 2018
May 13 – Will post recent alerts soon when time allows.
April 29 – There have been many calls since bottom on our private server and private twitter feed… I’m not going to take the time to post them here right now but I will post this rant of tweets… the private member alerts I’ll post next report if time (they were all spot on alerts).
I even told ya how I knew where the bottom was. $BTC #Bitcoin #algorithm
Next should be insane trading in crypto space. Could be wrong… but I’m feelin it. #crypto $BTC $XBT $ETH $LTC #trading screenshot
Next should be insane trading in crypto space. Could be wrong… but I’m feelin it. #crypto $BTC $XBT $ETH $LTC #trading
$BTC near HOD and some bullish action on intra. Tweet screen shot.
$BTC near HOD and some bullish action on intra. $BTC #bitcoin #calls
Technical precision trading. Price target hit perfect on daytrading algorithm model charting. $BTC $XBT #Bitcoin #Crypto #Trading
— Crypto the BTC Algo (@CryptotheAlgo) April 18, 2018
Bitcoin coming in to a possible buy trigger zone on daytrading chart. $BTC #Bitcoin
$BTC Bitcoin popped now 400 points since alert of support. Not a bad RR here for long test. If nothing else a day trade.
Bitcoin time price cycle peak coming April 7 – path of least resistance down target but my bias is to up. Trade price. We start trading live again Monday so I’ll broadcast our trading group moves live for this setup. $BTC #Bitcoin #trading #crypto (alerted in private member Discord server)
And the result…. price is dumping in to lower target identified on trade alert…. intrad-day getting close. Charting wins. Trader bias not so good on this one.
Ethereum Algorithm. Basic Charting Model on Daily Time Frame:
Ethereum Algorithm. Daily Chart. Price may test upside moving averages resistance. On watch. June 19 350 AM $ETH $ETHUSD #Ethereum #Algorithm
Ethereum Algorithm. Daily Chart has exactly the same structural scenario as BTC chart. June 11 911 PM $ETH $ETHUSD #Ethereum #Algorithm
Ethereum Algorithm. Daily Chart. Up trend at channel support TL. June 4, 18 242 AM $ETH $ETHUSD #Ethereum #Algorithm
Litecoin Algorithm. Basic Charting Model.
Primary buy sell triggers on Litecoin daily chart:
Litecoin Algorithm. LTC testing mid quad support. On high watch here. June 19 359 AM $LTCUSD #Litecoin #Algorithm
June 11 – No significant change in Litecoin Algorithm structure on charting model, refer to chart link below for real-time charting.
Litecoin Algorithm. Per previous, trade breached channel support. Watching 98.34 mid quad support for bounce. $LTCUSD #Litecoin #Algorithm
Ripple Basic Algorithm Charting Model $XRP
June 19 – No noteworthy change as with previous.
June 11 – No noteworthy change as with previous.
June 4 – No noteworthy change as with previous.
May 30 – No noteworthy change in charting – use link below.
May 21 – No noteworthy change in charting – use link below.
May 13 – Ripple needs .932 for a chance for a bullish structured run. $XRP $XRPUSD.
I put some tighter time from Fib structure in the model for those that asked for daytrading signals.
May 10 – Nothing to report. Flat.
April 29 – $XRP flat but over 200 MA on daily.
BUT still great returns from 40s to near 90s WOW.
April 22 – $XRP over .888 targets 1.31 then 1.65 mid term. Daytrading model on -deck. #ripple
< End of report >
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Post topics; Crypto, Algorithm, BTC, Bitcoin, chart, $BTC, $BTCUSD, $XBTUSD, $BTC.X, $ETH, $LTC, $XRP, trade, price targets, time cycles