19.01.22 CryptoCat trading signals and diary

By SirK133 | CryptoCat | 19 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,
- H4 timeframe - I would prefer daily, but I write my posts "in the evening" meaning usually around 20:00 UTC (that's still kinda late in my timezone), I need closed candles or I risk that indicator will change value after I post and before closing of the daily candle. 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
Nothing new despite changing timeframe - 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 17.01 everything indicates a downtrend and this has not changed. To paint an even worse picture Today we got a bearish cross on a group of averages. 
Still - no trades taken.

BNB
As we near important slow average that I hope may provide some resistance one indicator turned bullish vs 2 bearish ones. In a downtrend this is not sufficient for me to take a trade.
No trades taken.

ADA
Changing from daily to H4 timeframe gave me an excuse to close my long position wit whooping 1,17% in profit. On H4 all indicators show bearish sentiment, but the averages are not so bad - I we would to get some gains it would push them to a bullish setting pretty fast, as they attempt a bullish cross right now. Still that is a big IF - for now averages show "undecided" setting and that often comes with choppy action. If you'r wondering ,on D1 my long trade would still be on (and I would be nervous).
LONG trade closed +1,17%.

LINK
Something new here - LINK was moving up against bearish market but for now on H4 all indicators are bearish and averages are in an "undecided" state of confusion after the rally. I have a short position in LINK from yesterday evening, so currently in profit.
SHORT maintained. 

I'm not very happy about timeframe change, but I can't come back here every morning to reevaluate if the day actually finished as I wrote. For me it is also not the best idea to take trades based on half-baked signals since not every morning I have time even to take a quick look at the market, and till noon (counting from more or less midnight) half of the day is gone. So maybe the change will be for the best - time will tell, I did not have time to compare accuracy of the signals on this 2 timeframes.

Have a nice day,
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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