Interesting development in Bitcoin market

Over the weekend there was a interesting development in the bitcoin market. The market is still under the 2014 resistance, but the outbreak of the falling wedge has succeeded. The Wedge stopped exactly on the 61,80 Fibonacci Retracement, after outbreak retested the old line, and now after the weekend opened with a strong nearly 20 Dollar gap to the upside. 

If the market could overcome the resistance it is very likely that we will see 500 Dollar very soon. But the absolut high lays around 1100 Dollar in 2014. So there is a lot of space for this market to move.

GBPNZD massive pricemove could be ahead

After a strong up move since April 2015 around 5500 pips, the market is in consolidation since September 2015. The Volatility goes down, we can call it a narrowing Trend channel or a wedge, doesn`t matter, call it however you want to call it, you see on the chart what I mean. 

Since 2016 the volatility dries even more up. We can spreak now from something like a triangle at the end of this trendchannel. On Thursday night, markets break for a few minutes through the low from December 2015. 

Breakouttraders which took that breakout and not out so far, are hooked now.

One thing more what can focus our attention on this market is the fact that the market double bottomed now exactly on the 61,80% Fibonacci Retracement. 

IF the market is able to leave that triangle and trendchannel to the upside, I could imagine a price movement as we see it in April 2015. History repeats itself all over the time. If the market makes the decision that the uptrend is valid and the whole thing since 2015 was only a retracement in this uptrend, than we see the next leg up and so we have to think about much higher prices than today.

One target could be than the August 2015 high, but if the trend is strong and it will not double top there, than we see even higher prices. Look at the price move we seen last year starting in April. Nothing is impossible. Multi-week and multi-month price moves in the FOREX market happens all over the time. Maybe we see here the beginning of the next big one. 

One thought more on this: The Pound could recover due to lower Brexit fears and the fact that the Pound is in the big picture not in a Trend, it`s in a big range but the New Zealand Dollar is in a downtrend is one more sign for a good move. So if NZD is moving more down against the dollar and GBP is moving more up cause the market is on the lower support area of the range, we see a strong move in GBPNZD. 

So far, that`s my thoughts on this market.

Reasons for this blog & about me

I start this blog now, cause the problem with twitter is, that i can use only 140 characters. If i have a thought in my mind that is 186 Characters long, i have to waste my time with correcting and shorten my thought. That`s annoying. It´s wasting my time. So, anyway, i will post from time to time my ideas about the world markets, my trades & investments at this blog.

My first contact with the financial markets started 20 years before. I trade now since nearly 15 years. So be prepared, i have a lot of experience. I did it all, from daytrading to position trading, from equites to derivates.   

Today, i trade mainly currencies, also called forex or the FX market. I like the high liquidity, the 24h round the clock trading during the week. No gaps can suprise me overnight and overrun my stopps. Secondly, i trade commodities and stock market index CFDs. I have also an eye on the bond market, but i very very seldom make a trade here. Also very seldom, i make a trade in the equity market with CFDs. I follow a lots of markets around the globe, cause my targets are multi day or even multiweek swingtrades. I have the freedom to do that cause i just follow them in the daily or weekly chart. A daytrader don`t have this freedom, he is tied to a handfull of markets he have to watch carefully in the lower timeframes. If his markets are running out of serious money, cause the smart money, the international cash flow, is targeting other markets, than he is maybe doomed to stay in non-moving markets. Cause the majority of daytraders have no sense for the big picture, they don`t even notice that the real money has moved somewhere else. For an active investor or trader, it`s always important to know where the cashflow is going same as it is important for a grizzly to knew where the salmon run. Fishing in empty waters doesn`t make you richer, doesn`t matter how you try it and how disciplinated you are - no fish, no haul.

I did it all, including daytrading for many years. So i know what i`m talking about. Anyway, my experience leads me to this holistic approach i have now.

I combine today many things to something special, my approach has also some daytrading influences when it comes to taking low risk. I combine macro view and technical analysis, intuition and concentration. I found my own, unique and excellent working approach. It was a long journey until i had put that puzzle together.

Enjoy reading and maybe meanwhile you can learn something from doing so. 

Please don`t forget: No trading or investment advice! I'm not responsible for any losses if somebody is following my ideas.