16.01.22 CryptoCat trading signals and diary

By SirK133 | CryptoCat | 16 Jan 2022


This is the cryptocurrency market outlook, based on my magical cocktail of purely technical indicators. This entails, that bullish or bearish signals given in this series do not portray my sentiment towards any particular project. And by any means this is no advice, financial or otherwise.


The system consists of: 
- 3 indicators, handpicked from literally hundreds I've tested. Each offers different sensitivity, each of them quite accurate by itself, together meant to produce an highly accurate signal for entry and an early warning for open trades,
- 3 groups of moving averages - a battle-tested combination from forex markets, for the purpose of getting a bigger picture of the market. They indicate how cautiously I will approach signals from indicators,
- Daily timeframe - I don't need to get rich tomorrow, I prefer trading with less noise. Crypto being volatile as it is on lower timeframes is subject to random pumps and overreactions of the market that easily throw technical indicators off track - that is costly when using leverage.


BTC
No good news here - all 3 indicators firmly point to downward action, and the averages start to align in a pattern suggesting longer downtrend.
No trades taken.

ETH
Since 28.12. we remain firmly bearish on indicators. Averages still indicate a correction in an uptrend, but get closer and closer to "undecided" market:
No trades taken.

BNB
Between 12 and 14.01 all 3 indicators surprisingly flipped bullish. Averages still indicate only a correction in the uptrend, so in theory we should go up, yet I would advise smaller allocation given bearish readings on bigger coins. If anything, as long as general sentiment remains neutral-negative I would look to short BNB when indicators change.
No trades taken.

ADA
Averages show a firm downtrend, yet last indicator flipped bullish, and price crossed above important average. Last time this happened was 23.12 and possible upside turned out to be around 0.12$ and none of my indicators managed to provide a profitable exit. Still, I will convert some of my ADA into a leveraged position - the idea of having a system is to trade it.  

In the future I will cover more crypto, but for a start - this is it. It seams altcoins show signs of recovery before big ones - as long as BTC remains in a sideways pattern some projects that have strong fundamentals might try to climb independently - a sign of more mature market in my opinion.

Have a nice week,
CryptoCat.

 
All tips go to cat treats and catnip :) 
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This is not a financial advice – I’m no financial adviser, nor is this a legal advice – although I’m a lawyer. This is no advice at all, seriously, don’t take advice from random cats – the Internet is full of them! DYOR!

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SirK133
SirK133

Lawyer, analyst, crypto enthusiast, gamer, poet. I am interested in everything that makes up our world and how it is related.


CryptoCat
CryptoCat

My cat so often stomps the keyboard while I do my crypto research, I might as well make him a co-host here.

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