BITCOIN PROFIT-TAKING SYSTEM #3 <<>> Watching for another Volume Price High
🐒 SYSTEM #3
🐒 Bitcoin is higher but I am still waiting for the volume to confirm another potential intermediate high
The 24hr volume BTC is the number of Bitcoins used to trade AltCoins on Bittrex and Poloniex .
I am watching the Volume price high closely . The purple circles for a completely different and Sell to exit long position only pattern.
It works like this: I have circled two volume highs on the chart and the btc price also made intermediate highs then as well . Now I'm thinking that as Bitcoin runs up again in price in new highs I should be watching the volume on this chart and if the volume makes two consecutive highs above 300,000 I will be selling some of my Bitcoin and then look for a place to repurchase the Bitcoin that I sold .
🐒 Two consecutive volume highs above 300,000 = Sell to exit your long Bitcoin
🐒 Next watch for Two consecutive volume below 300,000 = Repurchase the Bitcoin you sold
🐒
Below spreadsheet results for SYSTEM # 3
NOTE : The volume and price are recorded at 7:00 AM EST and are not the highs or lows
| Date | Vol > 300,000 | Vol < 300,000 | Sell BTC Price | BuyBack Btc Price | % Drop in Price | Cumulative $ Value Gain/(Loss) per Bitcoin |
|---|---|---|---|---|---|---|
| 5/24/2017 | 357,571 | ----- | ----- | ----- | ----- | ----- |
| 5/25/2017 | 393,366 | ----- | $2806 | ----- | ----- | ----- |
| 5/26/2017 | ----- | 273,288 | ----- | ----- | ----- | ----- |
| 5/27/2017 | ----- | 258,013 | ----- | $2040 | 27.29% | $766 |
| 6/10/2017 | 329,914 | ----- | ----- | ----- | ----- | ----- |
| 6/11/2017 | 400,398 | ----- | $2905 | ----- | ----- | ----- |
| 6/14/2017 | ----- | 252,396 | ----- | ----- | ----- | ----- |
| 6/15/2017 | ----- | 251,288 | ----- | 2320 | 20.13% | $1351 |
🐒
SUMMARY
🐒 By applying this system since May 24 , 2017 one could have gained $1351 per Bitcoin traded
🐒 Two consecutive volume highs above 300,000 = Sell to exit your long Bitcoin
🐒 Next watch for Two consecutive volume below 300,000 = Repurchase the Bitcoin you sold
🐒 Today Hold LONG BTC POSITION using this system
🐒
DISCLAIMER : This content is for informational, educational and research purposes only.
Please get the advice of a competent financial adviser before investing your money in any financial instrument.
It is strongly recommend that you consult with a licensed financial professional before using any information provided here . Any market data or news commentary used here is for illustrative and informational purposes only.
SUMMARY
🐒 Today Hold LONG BTC POSITION using this system
🐒 By applying this system since May 24 , 2017 one could have gained $1351 per Bitcoin traded
🐒 Two consecutive volume highs above 300,000 = Sell to exit your long Bitcoin
🐒 Next watch for Two consecutive volume below 300,000 = Repurchase the Bitcoin you sold
DISCLAIMER : This content is for informational, educational and research purposes only.
Please get the advice of a competent financial adviser before investing your money in any financial instrument.
It is strongly recommend that you consult with a licensed financial professional before using any information provided here . Any market data or news commentary used here is for illustrative and informational purposes only.
🐒
What is the reasoning behind this? That if there is a lot of BTC/Alt volume, people are trading out of bitcoin into alts? And then those alts get traded for fiat (especially if the alt is eth or litecoin)?
Have you tested this theory on the BTC/ETH pair? In other words if the volune is huge for btc/eth, you should sell bitcoin?
These days i watch the graph you post then read your summary and i take my decisions. Its been helpful. Good analysis.
I feel like the only people getting rich from Bitcoin at this time are the fee charging sites like CoinBase.
Wow, I can't believe Bitcoin made it onto Family Guy. To bad its a skit where Peter makes it sound like an awfule "Peter" type of idea. Lol
Mmm, volume is important, but you can get burnt pretty bad too with this strategy. Volume works at both ends of the spectrum...
Is this applicable to Litecoin as well?
I do not know I have not researched litecoin
@me-tarzan .. can i translate to indonesia and share your article
Yes but make sure you include the whole post including the Disclaimer and give me-tarzan recognition as the author
Thank you for your interest @iskandarpcc and good Steeming
Thank your brother. . .
That is very helpful information. Using a value based target price is not very helpful with Bitcoin.
Hello @whitesj40 I replied to your question the other day and hope it answered your questions and thanks again for all your support
It did and I simply upvoted the comment but did not reply because of your expressed time crunch. Congratulations for making the top 10
Excellent analysis, well done :)
Awesome !!! I read it thoroughly
Nice work,keep it up :)
& please upvote back.
I am a new steemians, maybe i should study first with you, regards know me
https://steemit.com/@technologykf please follow me
I followed and upvoted.Would you like to follow and upvote me.