Bitcoin in the 100,000 yen range! How to navigate/beat the market that continues to hit new highs?
Hello everyone, 100,000 yen! The lottery prize for the year-end Jumbo Prize 1st prize mis-award is not 100,000 yen, which I can’t accept@xi10jun1... from me
Finally! Bitcoin has entered the 100,000-yen level!
Since there was no pullback at all, I can’t find a buying opportunity at all...
This week's results (December 16, 2016 to December 22, 2016)
First, as usual, the results. I’d like to say, but I traded quite a lot this week and can’t publish everything, so I’ll publish only the final results.
As buying strength pushed up, selling stop losses increased, resulting in larger losses...
Not being able to take more long positions around the 100,000-yen mark was a mistake. Still, it’s frustrating that I can’t take profits in a favorable pattern.
Bitcoin market on December 17, 2016 (chart time: 1h)
From the 16th to the 17th, the price kept making new highs.
Not a multi-day range like before, but a rapid rise in a short period. The upper side is light.
There were no noticeable pullbacks either.
Bitcoin market on December 18, 2016 (chart time: 1h)
There was a temporary price drop, and I took some profit here.
But the downside was limited. Afterward it rose steadily, so if it had surpassed 93,670 yen, it could have run further.
Anyway, it still won’t form a proper pullback...
Bitcoin market on December 19, 2016 (chart time: 1h)
I thought it would continue to rise honestly, but a price drop occurred again.
And the downside is again limited. It looks like a range market, but it’s trying again to test 93,670 yen.
There’s no proper dip at all.
Bitcoin market on December 20, 2016 (chart time: 1h)
After exceeding 93,670 yen, there was a slightly heavier upper side.
However, it didn’t drop seriously, and kept making new highs. It’s strong, after all.
I was entering small sells as well, but I had to cut losses.
Bitcoin market on December 21, 2016 (chart time: 1h)
Consecutive new highs! As expected, I was actively selling as well.
Indeed, when positions are outside the Bollinger Bands, you can take them with high probability.
However, unrealized gains aren’t growing properly, especially during a continued uptrend like this.
Bitcoin market on December 22, 2016 (chart time: 1h)
The fateful 22nd.
Bitcoin finally breaks through the 100,000-yen threshold!
With continued buying strength, it pushed further, reaching as high as 110,000 yen around the 23rd!
After rising without any pullbacks, it became difficult to take positions here.
Free section: Will it stay in the 100,000-yen range?
I didn’t expect it to reach the 100,000-yen level so quickly. It’s no wonder I can’t profit from selling at all...
There are views on Twitter that buying from China is strong. If that’s the case, there’s potential for even higher highs.
While selling on the pullbacks and buying when the decline narrows, I’m watching how far this strategy will go.
Ending column 1: Shopping with Bitcoin!
Actually, you can purchase products on the overseas e-commerce site “FANCY” using Bitcoin! The shipping is a bit high, but there are stylish items not seen in Japan!
I’ve summarized how to use FANCY on this blog, so please refer to this.
- →解説: Creating a FANCY account, registration, settings, and how to purchase | Yutori-sei no tokuka jun
- →How to buy (pay) FANCY items with Bitcoin | Yutori-sei no tokuka jun
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