Why Bitcoin Is NOT The Best Coin To Trade – Cryptocurrency Trading Begins

I’m a professional day trader who has spent years mastering my craft and focusing on stocks. Stocks have been my bread and butter. Our next bootcamp is coming up and our seats are filling up fast. It’s here that I can teach you all of my strategies. All of my lessons focus on trends. My students learn how to spot trends, spot momentum, while managing risk and holding onto your gains. Recently, I’ve been applying what I know about technical analysis to all different instruments in the market, particularly crypotcurrencies.

The technical analysis that we’ve been using for years has been working wonderfully in cryptocurrencies. Cryptocurrencies are the new frontier. A strategy I’ve been using quite a bit to trade these has been support plays, also known as breakout pullbacks. Lately this strategy has been working with Litecoin (LTC). Litecoin is an alternative to Bitcoin and Ethereum and acts as the third biggest cryptocurrency. But while the high price of the two scares traders away, LTC tends to have more volume. Not only that, the excess volume in LTC allows for the stock to exhibit more range while providing liquidity.

Litecoin, LTC

On the daily chart, LTC initially ran up to $10 then $15 in a really clean move before flat lining for about a month. Recently it broke out of the flat top range at $36.00 followed by a nice pull back to support. After the pullback, it once again broke its descending trendline before ripping once more. This was our classic flag pattern. After the rip, it once again pulled back again to our moving average ready for another bounce. I level into my position right here at support. My first add was in anticipation that this level is going to hold.  My stop loss was directly under. Once the setup was confirmed, I started adding to the position.

Checking the crypto intraday, you can see that my initial position was priced at about $45.02. I entered once it put in a very simple double bottom pattern setup. The move continued intraday and started to flag, a great spot to add even more to my position. If the stock exhibits this type of behavior while making higher lows, you may see another run.

Additionally, if you get filled on a limit order then you don’t get charged commission. This is a big deal. The way cryptocurrencies will really hurt you is if you’re a chaser. Chasers tend to enter stocks with market orders because once the breakout is happening they have to get in. The commissions for market orders will add up. But if you’re patient and let you orders fill, you won’t be charged a dime.

The strategies that I teach in our bootcamp can be applied to all types of trading. Cryptocurrencies really is the new frontier of trading and by joining the bootcamp you can learn how to trade using technical analysis and my proprietary trading setups. If you’re not sure of the setups and price patterns that we’re talking about you can learn them all in our Bulls Bootcamp which starts August 1. It’s an intensive 60 day course to teach you exactly how I trade and why. To learn more or signup, email me at kunal@bullsonwallstreet.com today!



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