Episode Highlights:
- 00:23 – The Price Of Bitcoin Today
- 01:43 – Is Bitcoin Going To Break 5000
- 02:58 – Where Is Ethereum Heading To
- 04:22 – The Mistake That I Made
- 04:53 – Santa Coin
- 07:44 – My Trade Over The Weekend
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Transcription:
Hey guys, its Dan again from digital uptake. Hey, today I wanted to actually chat through with you a mistake I made you know in the last couple days; really it was over the weekend. I made a trade and I wanted to show you something that I did that was not necessarily perfect, I mean it was still good what happened, but it wasn’t perfect the way I executed it. And I wanted to kind of walk through that with you today.
00:23 – The Price Of Bitcoin Today
Before I do that though, I wanted to really just get your thoughts on Bitcoin,the price of Bitcoin and the price of Ethereium today. So, as I’m recording this now on August 28th, 2017, the price of Bitcoin is… you could kind of see it right up here right. It’s $4,368 and here’s the chart to go along with it. And it’s…you know I recorded a video gosh a couple days ago around Bitcoin hovering, you know in the 4000 and close to going above 5,000, and breaking out 5,000. And kind of you know teetering up and down within the 4000. And that was similar to what happened on Bitcoin when it was hovering in the 3000 before it broke into 4000 range. And I just curious what you guys think about that? I’m curious if you guys agree with the analysis? You know if you’re bullish on Bitcoin going past 5,000. If you think it’s going to drop significantly before it goes over 5,000, and if there are more opportunities to get in before that happens. I definitely think there are more opportunities to get into Bitcoin before it goes about 5,000. I mean you could look right here, you know just a few days ago, what this was on August 27th. So, yesterday and actually the price actually dropped down to 4160, and is all the way back up you know today, topping out at about 4400 approximately. So, everything right here right.
01:43 – Is Bitcoin Going To Break 5000
And so, I’m curious you know, if you feel that there’s an opportunity here you know I, unfortunately, did not get in on this balance right here, I wish I would have but it was a little bit difficult to mark a base. There wasn’t really a strong base here I could mark. I mean technically I could have marked right here, you know right here and I could have marked a base my cracked it would pop right there. But I didn’t do that right, was hoping for something a little stronger in terms of a base. So, I didn’t take the gamble, but what do you guys think? Do you think it’s going to break? You know what do you guys think? Do you think it’s going to break past 5,000? Do you think it’s going to do it by the end of the month, we only got a few days? Do you think it’s going to break out in September? Just curious what do you think? The same thing goes with Ethereum right. Ethereum has actually, had a pretty good run up, you know from the last few days right. Just in the last few days it’s gone down to 318 and now today it’s all the way up at about 347 almost 350 and it’s still climbing right. If you look at the chart a little closer, still climbing up and I’m kind of curious where you guys think this will land? Ethereum is a bit different of a beast than Bitcoin right, and it’s priced much lower than Bitcoin. Although it’s the second-ranking market cap, or it’s the second strongest cryptocurrency in terms of market cap right, market capitalization.
02:58 Where Is Ethereum Heading To
And so, I’m curious what you guys think you know where Ethereum is going? Is it going to crack 500? Is it going to crack 400? Is it going to go to a thousand? There’s a lot of different you know analysts weighing in on, there’s a lot of speculation about it. But it definitely looks like it’s going up. And I’m fairly bullish on Ethereum, but I’m not really quite sure how it’s going to play out right. We’ve seen a lot of really heavy swings with Ethereum, but now it seems like it is gaining momentum, attraction to go upwards. So, anyway I’m curious, put your thoughts there, and you know you might want to mark a base right here. Just letting you know right, because there was a big dip right here, all the way from 350 all the way down to 330. Not tremendous, but definitely you can make a pretty good profit on that right. You see the spike coming right here, same thing kind of goes right here, not a tremendous base, but it is you know a slight base. If you want a strong base, go all the way down here right. If you really want to be safe, if you use market here, if it does go back below 300, this would be a really, really great opportunity to buy. I’m not sure if it will do that, we don’t know. Who knows, but if it does, I would be buying really anywhere you know kind of in this range for sure right. I’d be loading up very, very heavily in that range. These ones are a little bit more risky obviously, but still think you can make some decent profits right here, even right here. You know if it cracks these two bases so, just take note of that.
04:22 – The Mistake That I Made
So, I wanted to get into the mistake that I made, and you know I think don’t know if you just saw that, but the cryptocurrency market just hit another all-time high. Hit 160 billion in market capitalization around you know among all the altcoins and Bitcoin so forth. It’s a record I just read that the corner real quick here. Anyway, wanted to jump over to the mistake that I have made, and sorry before I even get into that gosh I want to show you this real quick.
04:53 – Santa Coin
I just seen an alerts and maybe a few days ago, and I’ve noticed that San, Santa coin is cracking it below gosh about 0.00010001 and it’s going down right. It’s dropping below the current base right here. So, I’m actively monitoring it I haven’t actually bought anything yet, but I am monitoring it right, because it looks like it’s a good opportunity to buy right here. If you guys do want to get in this may be a good opportunity not a 100% convinced, because there’s a couple bases going on here. The obvious base is right here right. When it goes down below this base right here, I would definitely be loading up and buying anywhere below here right. I’d be loading up decently right anywhere above that. It’s a little bit more tricky right, let’s zoom in here is technically a base right here, where it did crack below but it’s already cracked below that a few times. The next base I see on here is really right here, and the spread is really let’s seeing 103 up to 114. So, it’s a pretty good. Pretty good spread right. It’s about 15% give or take something like that. So, you can still make some money on here, and that’s the base that I’m watching right. A crack that base just maybe the half an hour ago, and it’s going lower. And so, I am interested to see where this lands. I may end up purchasing some of this coin you know, and it gets down to here I may wait and see if it goes down below this base, not really sure yet but I’m actively looking at that now. And you can see all the trades going on in here. And where it’s going to go, and if we zoom down into a 5-minute chart, I typically do this to kind of see where the you know, the sentiment is of this particular coin. And if people are trading up or down in the moment and you can see in the last like you know 30 minutes kind of where people are at up and down here. And it does seem like it’s getting some support you know down at you know right, when it cracked 10 and went down to you know 99, 98, 97. It did get some support here, and that’s because it’s cracking this 10 base. And that’s another again another psychological you know milestone. If you will base, it’s somebody’s head to say if this goes below 10 I’m going to buy it. It’s a great deal right, which is sometimes the case. Sometimes not the case, but you’ll often see balances off of even numbers right. When something’s 200, or 300, or 400. And it goes below that level, you’ll see kind of a balance right. And same on the other way around right. if it goes above 300, 400, 500 you’ll see typically a run-up, because people are bullish and confident. So, it looks like this coin is already starting to run up. So, I probably will not get into it at this point, but if it keeps going down, I may write and this is five minute charts. So, you’ll see a lot of up and down really quickly, but I recommend you stick to the hour charts, because then you could really see what’s going on you know in the broader and the grander scheme of things right.
07:44 – My Trade Over The Weekend
So, anyway again wanted to get into my trade over the weekend, let’s do it. Okay, so over the weekend on Saturday I think it was I traded…I purchased Neo right. A coin called Neo, and I bought it you know honestly the perfect time. It couldn’t have been a better time for me to buy this. I got in perfectly right, you can see my trade right here, and if I zoom in just a little bit, you’ll see I got in literally right at the bottom of this downtrend. Right at the bottom and then you can see it shot all the way back up. So, it went down I knew when I got it, I got it at you know about 85. And it shot all the way back up to 95, 955, and 956 around that right. And I was able to react quickly enough. I would have made a great profit off of that right. I had a decent night in there and I would have made a great profit off of that quick jump up. And that happened literally, within maybe an hour or two. And so, I didn’t have a whole lot of time to react to this. And so, unfortunately I didn’t actually sell it at the top here you know, or anywhere near the top here. I actually, haven’t sold it yet. I’m holding on to a number of a bunch of Neo coins right now. And looking for where my exit should be so, that I can recoup right the amount I spent. And not recoup that spread around the world, but I still can make gains here my gains just won’t be as big right there. They’d be five to eight you know it’s not bad, but it’s not that great. And so, I wanted to do it when it was higher. And so, my problem came in and the reason I’m telling you this is, because I want you to avoid it as well. My problem came in because it was the weekend right. And on the weekend it was my anniversary, wedding anniversary. It was my wife’s mother 60th birthday. So, needless to say I had a lot going on and honestly I’ve made this trade kind of on a whim. I literally, went into my office and I looked at Coinigy, and I looked at some of my alerts, and I noticed that there was an alert for Neo. And it was dropping below the base right, and where did I have my base? Yep you guessed it. I had a base right here. I had a base right here, the stronger base was down here right. And if you can see you know I put in my order right below the base, right down here. So, when it cracked the base it actually dropped below. And I was able to scoop up a decent amount of Neo coin at a very, very low level, because I set the alert. And the purchase right below the base here. And so, that was great I was thrilled about that. So, on Saturday I made this purchase, I saw where I bought it. I’m super excited, I was like wow that can’t get better right, and this is a great trade. I could…it can’t get any better than that. I literally, left the room; I didn’t set my sell order that’s the mistake. I should set my sell order right after I bought it right. I should have said that, I should have set it somewhere up here. So, I could have sold. It got out very quickly, but I didn’t do that, I had so many things going on that I just overlooked it. I didn’t do it. I said that you know I’ll come back in an hour, or two, couple hours later and I’ll set that alert to sell and I didn’t do it. And you can imagine look what happened. It shot way, way up to 956, and then it shot way back down and it was hovering you know around this kind of 88 level. And it’s kind of gone up and down sentence. And so, again I’m still in the profit zone here, still in the Green Zone and can sell and not get a loss, and still make a little money or so free you know neo coins. But I really wish I would have got out earlier right. That’s the mistake I made, and that’s the lesson I want to communicate to you guys is that every time you make a purchase, you know when a base cracks make sure you immediately schedule yourself right. Wherever you want that to be, you know however high you want to put it, just make sure you schedule that sell so, that you can get out and so, that you don’t you know get in a get kind of position like I am. You know I’m going to see how this goes. I’m hoping it’s going to bounce back up, but we’ll see. You know I would imagine if it does break below this base again, I would actually mark a new base right here right. This is your really your new base right here. We’ll see how that kind of goes up to very well. It’s a very, very small base I’m sorry that’s really not a base take that back, this is your new base right, because it’s the same thing. But it goes all the way up, so that’s your base, that’s where the support is. And you can see the same thing right here. There’s some more support right here right, but it didn’t go quite as high this time. It’s happened a few times it but it didn’t go as high. So, anyway just wanted to let you guys know about that. Let me know your thoughts, if you guys have run into similar issues. But main takeaway, make sure after you make a purchase on an exchange immediately, set up your sell order. You know whatever levels you want, how many coins you want to sell, how much price you want to sell it. So, that you’re ready to go. So, if you have a busy weekend like I did, you don’t get caught with a chunk of coins. Now you may not want to keep in the long term right. I do want to keep Neo bullish and Neo long term. But I don’t want to keep it you know for the medium to long term now, because it’s the money I need to trade. It’s money I want to trade with. So, anyway I’ll let you know how it goes. Yeah it looks like it is a little bit you know bouncing up right here. I’m hoping it goes up a bit higher so, I could get out at a decent profit level, But anyway, until next time happy trade. And hopefully this was helpful for you guys? See you later.
