BITCOIN – FOREX STRATEGY FOR TRADERS

Welcome back everyone, I am sure most of you wonder how long the correction in Bitcoin as well as other cryptocurrencies will last. Before I answer that question, let me remind you that corrections are necessary for a healthy up-trend. I have mentioned a correction in last week’s post “Bitcoin – Forex Combo Strategy: What’s Next for Jesse Lund?” (forex broker) where I also explained why I took a 500 Bitcoins short position at $8,800. While there is a possibility that we extend this slide down to $6,380, I happily booked my profits at $7,500 earlier today which resulted in a net profit of $650,000. I am not adding to my 100 Bitcoins which I hodl and will remain on the sidelines until the next move materializes. Patience is key to successful trading.

Before I dive into the exciting NEO upgrade, let’s round-up what happened to my cryptocurrency portfolio (start currency trading) . As stated, I keep hodling my 100 Bitcoins which I bought on January 14th 2019 at $3,500. My $10,500 price target remains intact and I will close out this position around that level unless circumstances change and result in me revising the price target to the upside. As cryptocurrencies (forex currency) moved to the downside, my 10,000 Ether short position which I took on May 15th 2019 at $220 is moving closer to profitability. I am ready to add another 15,000 Ether short position above $330 if Ethereum will be pulled higher after the end of the current corrective phase. Honestly, I am not sure it will reach that level this year. Ripple pulled back after I bought 5,000,000 Ripple on May 23rd 2019 at $0.3700, but my position remains in the green. The three images show the most recent price action moves across my cryptocurrency portfolio.

Top Exchanges for Trading Bitcoin & Cryptocurrencies

One of the reasons why Bitcoin is so popular among day traders is that there are many different Bitcoin exchanges available. Finding the best Bitcoin exchange will depend on many different factors. These include your home country, the preferred method of payment, fees, limits, liquidity needs, and other factors.

Here are some of the top cryptocurrency exchanges in the forex market hours:

• • Coinbase is the world’s largest crypto exchange. Available in the United States, Canada, and the majority of countries in Europe. Offers several payment options.
  • Binance is the second largest exchange that trades over 130 different currencies. Has low transaction fees (0.1%).
  • Bitmex is the third largest exchange and only trades BTC. Great for short selling and margin trades.
  • Bittrex is a US-based exchange founded by ex-Microsoft security professionals.
  • Robinhood is a new exchange with 6 million users and takes zero trading fees.
  • OKEx is a Hong Kong-based exchange. Trades over 145 different cryptocurrencies.
  • GDAX - United States based exchange that allows users to trade Bitcoin, Ether, Litecoin, and other cryptocurrencies.
  • itBit operates as both a global over-the-counter (OTC) trading desk and a global Bitcoin exchange platform.
  • Coinmama - Allows you to buy and sell easily. Accepts credit cards and has a large global reach.

How to Start Investing in Cryptocurrencies?

Cryptocurrencies have pretty much been a topic of intense discussion over the last few years. How many times have we heard stories of people becoming overnight millionaires and, at the same time, stories of people who lost hundreds of thousands of dollars hoping to make a quick buck? How to invest in cryptocurrencies?

So, if you are looking to invest in crypto in a safe manner, then this guide is for you. The purpose of this guide is to help educate investors as much as possible and to reduce speculation in the market.

If you want to learn more about cryptocurrencies themselves, then you can check out our beginner courses on cryptocurrencies.

Disclaimer before continuing: We are not a financial institution: All we are proving is educational material: Do not take this information as professional investment advice.

Investing in cryptocurrencies (currency trading) is a new and exciting way to invest a part of your capital or diversify your traditional investment portfolio. It’s currently the best performing asset class. That’s right, it is consistently outperforming stocks, bonds, funds and even real estate! If you are getting into the crypto world, be prepared for a roller-coaster ride because it is a wildly volatile asset class. After all, it is a new sector in the financial industry and that means things are changing all the time. You have so much information to understand, it can seem like learning a new language.

If something has consistently gotten better and easier over the years in the crypto space, then that’s the user experience of buying cryptocurrency. What used to be a daunting task that leads users to shady platforms, is now simple and intuitive and can even be done from one’s smartphone. Contrary to what you may have heard or think about cryptocurrency investing, it is just another asset class, not much unlike investing in stocks, bonds or options. But as a crypto investing beginner, you will have to put in some time to learn the basics. Once you have a good foundation, then you will surely become more comfortable in the space and gain more confidence.

As important as it is to decide how much to invest in cryptocurrency, it is also necessary to be strategic in understanding the fundamentals of a digital asset, as this can play a major role in the level of risk involved. Fundamental analysis are the best indicators for long-term investors, so you'll need an understanding of how a coin or Initial Coin Offering (ICO) functions, its history and what it brings to the table before choosing to participate in its development. It might be best to look at the purpose of the cryptocurrency you’re interested in, how long it has been in the market, its market capitalization and its underlying tech solutions.

Once you understand the reason or reasons you want to invest in cryptocurrency, then the next step is learning how to invest with best forex broker. The first thing you will need to do is set up an account on an exchange. This will allow you to buy cryptocurrencies with fiat currencies. Popular exchanges include Coinbase, Kraken, and Binance. Once you are set up, you can choose from a plethora of cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. If you are interested in growing and diversifying your portfolio, you may want to include more than just one type of crypto. To do this, you can either buy again with fiat currencies or set up another account on a different exchange where you can trade Bitcoin for other cryptos.

As interest in cryptocurrency grows, investing has become easier—even for beginners. First, you need to know how you want to invest in forex. If you prefer to be in control, then direct investing is the way to go. But if you want to invest in the crypto industry using more familiar currencies, then indirect investing is probably right for you. It doesn't matter if you choose to invest cryptocurrency like it's a retirement fund, or you want to day trade, it will be many a month before the first thing you do in the morning is something other than check the charts to see where the market is at. From the moment you learn how to buy cryptocurrency until you sell them all and move to the moon, you never stop learning.

Fundamental Analysis for gold and EUR/USD for 04.06.2019

EUR USD Analysis - Forex News

The EUR/USD has strongly moved up, breaking all the technical support levels on its way. The local high was made at the level of 1.1261, just below the key technical resistance zone located between the levels of 1.1264 - 1.1274. Any breakout through this zone will change the temporary outlook from bearish to bullish. Please notice, that despite such a big move up the pair is still forex trading inside of the consolidation zone and the key technical resistance zone must be clearly and impulsively violated to continue the move up.

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.1280
• Take Profit Level: 1.1320 (40 pips)

If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1230
• Take Profit Level: 1.1210 (20 pips)

USDJPY 
A possible long position at the breakout of the level 107.80

GOLD 
A possible long position at the breakout of the level 1329.00

USDCHF
A possible short position in the breakdown of the level 0.9900

GBPUSD
A possible long position at the breakout of the level 1.2640