This week as well, continuing with trade verification! By the way, how do you file a tax return for Bitcoin margin trading?
Hello everyone, about filing taxes! I’m impressed that filing has become even easier.@xi10jun1is how it ends.
Well, it’s tax season for sure. I hope I get some tax return back…
Actually, I was planning to properly declare this Bitcoin futures trading as well, and I contacted the tax office the other day. As usual, I’ve summarized it on my blog, so please check the link at the end of the column in “End Note Corner 2.”
This week’s results (Feb 9, 2017 to Feb 16, 2017)
First, as usual, the results. I’ll announce the changes first.
- Last week (until Feb 9, 2017) assets: 65,770 yen
- This week (until Feb 16, 2017) assets: 68,052 yen
- Change: +2,282 yen
Assets rose to a new high! It reached the 68,000 yen range. When I stayed in Tokyo last week, I managed to achieve various things. I’d like to reach 70,000 yen within this week.
Starting from 50,000 yen, it’s grown to about +36%, but there’s still a long way to go. Catch up and surpass 1 BTC!
This week too, we continue to validate practical trading using timeframes!
So this time as well, it’s a practical column to judge the trend from longer-timeframe candles and trade using shorter-timeframe candles.
This week I took various screenshots, and let’s look at the most interesting chart from the trade on February 14th.
Also, we’ll continue to use a moving-average chart.
February 14, 2017: 1-hour chart
What we’ll use is the 1-hour chart from February 14, 2017.
First, please take a look. What is this enormous cross-shaped candle like after Eva’s destruction…
Bitcoin’s price movements have that kind of sudden, alarming swing without any forewarning. It really made me realize again.
That said, at this pace the market is hard to understand, so I’ll make the timeframe shorter.
February 14, 2017: 30-minute chart
Next, the 30-minute chart.
It’s a bit hard to read, but the uptrend seems to be continuing.
Because of a specification issue, I couldn’t view it any smaller. I’ll shorten the timeframe a bit more.
February 14, 2017: 15-minute chart
Next, the 15-minute chart.
Hmm, still a bit hard to read. However, you can see the Stochastic RSI line at the bottom of the chart is trending slightly downward. Could there be selling pressure?
Let’s take a closer look.
February 14, 2017: 5-minute chart
Only with the 5-minute chart does the situation become clear.
At this point, it seems the uptrend is in full swing.
One thing that concerns me is the prevalence of doji candles. Even though they are bullish candles, the lower shadow remains while the uptrend advances. This is an unusual movement.
February 14, 2017: 1-minute chart
Finally, looking at the 1-minute chart, the chart becomes even more jagged.
The red-framed area shows rising signals, so entering long could be fine. However, the fluctuating candles up and down are a major drawback.
It feels unstable…
Summary: In unstable markets, don’t overextend.
We analyzed charts right after a sharp rise or fall, but the shorter timeframes showed market instability.
There aren’t many such candles in moving averages. When you see a sequence of candles with both upper and lower wicks, it indicates a lack of direction.
In such cases I don’t want to enter, but the signals look buy-like, so I tried it experimentally. What happened afterward? It’s disclosed in the paid section. If you’re interested, please consider subscribing to the paid content as well.
End Note Corner 1: Shopping with Bitcoin!
Actually, on the overseas e-commerce site “FANCY,” you can buy products using Bitcoin! The shipping may be a bit high, but there are stylish items that you won’t see in Japan!
Please refer to my blog for how to use FANCY.
- →Explaining how to create an account, register, set up, and purchase on FANCY | Investor jun of the Yotori generationExplaining how to create an account, register, set up, and purchase on FANCY | Investor jun of the Yotori generation
- →How to purchase (pay with Bitcoin) items on FANCY | Investor jun of the Yotori generationHow to purchase (pay with Bitcoin) items on FANCY | Investor jun of the Yotori generation
End Note Corner 2: How should you file taxes for Bitcoin margin trading (BTCFX)?
Tax season has arrived, but you must properly declare BTCFX profits too! I’ve written a blog post after confirming with the tax office, so please take a look as a reference.
Note: even tax offices and tax accountants may have differing views. Also, laws can change, and the method of filing may change. Before filing, be sure to confirm with your nearest tax office or tax professional.
Note: the free portion ends here. The following content is detailed analysis and future outlook, so it is paid. If you’d like to read more, please consider subscribing—even as a tip—your support is greatly appreciated. Please continue to support!
