Want to know how to trade bitcoin without dealing with the crappy Coinbase trading platform? Check out these techniques for trading Bitcoin Investment Trust (GBTC). (December 22, 2017)
GBTC
Just a short video on Bitcoin. This stock ( OTCMKTS: GBTC ), which trades right along with Bitcoin, from top to bottom in just four trading days lost two-thirds of its volume. This is the danger of getting sucked in on these things.
If you look back at this chart the best buying opportunities weren’t necessarily on the breakouts. This one was a pretty obvious one right here, $1000.00, it was an even figure. This is where it had sold off before; it couldn’t push it out here. It couldn’t push it out here until now, Boom! You are in here, and that is a really, really nice profit.
But now, because of the volatility, the time to be trading this type of stuff is very, very rarely. And you get these big, big returns. Watch the 50-day moving average; you can watch other technical levels. You can even watch this 30-day, it is a moving volume weighted average price, (VWAP), over the last 30-days. This actually seems to work pretty well.
This is what I am talking about: When it trades down to that, typically that is where you are going to find the buyers. And then when it trades down below it, typically that is where you are going to find the sellers. So you can be trading in these ranges based on something that a lot of people don’t really look at and it actually helps, you make money. This entire chart and this 30-day moving VWAP actually had given you really, really good trading signals as far as entries and things like that.
Free Chart