Why I'm starting to Buy Bitcoin | Crypto Investing For Beginners March 2018



what's going on guys Tony Ivanov here with another video lesson and today how many be talking about Bitcoin and why I have finally started to buy some Bitcoin I've made a few videos on this topic in the past few weeks just just noting the chart the technical analysis and saying we're the best point to you know rebuy Bitcoin would be and if you haven't seen those videos I highly recommend you check those out right now before you watch this video because there's a lot of great content in them just look back in my video library and you should be able to find those no problem but essentially the plan was to you know buy when we break this gigantic channel we've been in since the top we had in in mid-december when we hit nineteen thousand nine hundred and it had a very sharp fall downwards so ever since that day every single large bounce we've had thereafter has you know landed on this line and and you know all I did when making this line was I connected the point on this top with this top and then I made array so the line extends all the way out and then the bounce we had off of the six thousands in early February it stopped out right here at eleven thousand seven hundred forty-four ish right on that line so that was the confirmation of that resistance and that was the line that we knew that if we wanted to see a big reversal in Bitcoin we'll have to break through that line so before I go any further I usually do have a webcam but my webcam isn't working right now for some reason I'm gonna reinstall the the drivers after this video but for now no webcam today no big deal if you don't know every single day I give away $25 and it goes to a random counter from the previous video lesson so we're gonna see where that is right now all I gotta do is leave a like leave a subscription leave a comment down below for a chance to win 25 bucks so here's Dave Dillard he says my comment okay so this time I'm gonna let that slide guys but I really want you to ask some sort of question or I really have some input because that's kind of a waste of this spot so Dave you're gonna be the last person who who who experiences my grace on this topic I want to see you ask a question or provide some feedback on the videos because you know you're getting 25 bucks so give it you know some thought so Dave make sure you send me a YouTube message with your paypal email address so I said without 25 bucks just saying right now anyone who's looking to leave a comment on this video if you want a chance to win 25 bucks make sure your comment has some substance or else I'll move on to the next person so moving back on to Bitcoin so yeah we finally broke through I went by the way I'm using a three hour time frame and this is trading view this is a free charting platform I have the paid version the paid version just basically lets you use a bunch more moving averages and indicators in general and you also can have a watchlist on trading view the paid version is like I think five bucks a month so it's more than worth it's a very good platform very good you know web charts that you can use in order to you know do technical analysis and I'm using the three hour time frame so we're gonna be doing all this analysis based on a three hour time frame because I'm not gonna look at the one minute because woman's gonna have so much noise that I'm not gonna be really not gonna be able to really make sense of my thesis on the three hour on the one minute so looking at the chart on Bitcoin you can clearly see that we did break over that down training trendline and we're slowly working our way up but we have been facing a lot of resistance in this area so once we broke over that trendline on the first of March it bounced up tiny bit to 11,200 about and then we back down we reconfirmed that this resistance line is now support as shown by the other price action bouncing off of that very cleanly and then for a second there it looked like we were making a new trend line from the bottom of this dip you connect that with this one NIC array and it seemed like that was gonna hold up as the support but you can see we've now since then broken down below below not sure what that was we've broken down below that term line and now it's been acting as resistance and we also have the previous high here at 11700 so now's a very important area to watch Bitcoin and see what it does have to see you know is it gonna hold this out trend or is it is it just gonna have another pullback and it is just gonna act as a double top one thing that is a pretty big concern here is that when that was doing this technical analysis I've always used the logarithmic chart on Bitcoin and for some reason I even know that this switched back but my charts are no longer on the logarithmic time or price scale so if you just go to the Settings real fast here press log scale you will see that the chart changes it goes on a logarithmic scale and if you don't know what that means you can do some research into it but basically the price you know as a price grows the gap between the price will grow exponentially with it meaning that the space in between these grid lines is not one-to-one all the way through and that changes the chart a bit now you can see if we draw the same trend line on these two tops it looks like we're approaching that resistent on on log scale so that's gonna be a very a very interesting point to see and that will pretty much be the confirmation of okay so do we use the regular scale or do really use the log sky because if this does hold up as resistance it does mean that a lot more investors and big traders are relying on the logarithmic scale so then it would be you know a sign for me and you guys to viewing to try to switch over to your logarithmic scale and shard it and start doing a technical analysis that way because like I said if we do see this as resistance here right near twelve thousand then it should have another pullback and and I'm not too sure where it's gonna end up by then if it does make a higher low that'd be awesome but you know we could also break down below nine thousand four hundred and trend lowers so we'll just have to see right now I did start a small position and not in with my full size quite yet just because of the uncertainty of what this is gonna do now you know the main thing with Bitcoin is that it doesn't move fast overnight so we can watch the price action we can we can slowly add in and add out add in and scale out and I have to go all in at once and sell all at once so it's a very nice thing with Bitcoin that it does move slower than other types of investments that we can really manage our position and manage our risk accordingly so I did take a starter on the break of this trend line and now I'm seeing you know what its gonna do over the next few days maybe the next few weeks not in the next few weeks over the next week and then once I have a better understanding of what its gonna do I will make an update video on it so hope you guys enjoyed this lesson if you did like I said leave a like leave a comment leave a subscription down below you want a chance to win 25 bucks make sure you ask a question in the comments or just you know have some input into the conversation I want to know what you guys think about Bitcoin do you think it's a good investment or do you have alternative coins that you think are more valuable leave your comments down below I want to hear what you guys think and with that being said I'll see you guys tomorrow

48 thoughts on “Why I'm starting to Buy Bitcoin | Crypto Investing For Beginners March 2018”

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  4. You said in one of your videos how you would not recommend investing $100 into bitcoin vs $1000, now why is that, and wouldn't I still make a profit no matter how much I invest if it was at 7400 lets say? thanks for taking the time to read all of your viewers comments and respond i love your channel!

  5. Are you only using Binance to make a deposit and trade. Sorry I'm new at this, and a friend uses Coibase app to do both his transaction.

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  11. Excellent analysis. Do you think you will eventually switch most of your investing over to crypto? Or will you always trade mainly with penny stocks?Thanks for the great content. keep it up! Enjoying your channel

  12. hey Tony, I have been getting into cryptocurrencies since the end of last year. I have been keeping an eye on some small currencies like ripple, Tron and verge because they were cheaper. For someone who only has a small amount to invest I thought it might be worth it to go for the cheaper ones, thoughts?

  13. It is interesting that you are now starting to buy, because a different trader posted a big "bear signal" for bitcoin today . I like the way you base your views on price action. The more chart analysis I can get, the better.

  14. Are you interested in any of the alt coins and if so which ones, I am fond of Nucleus vision myself. Thanks for the input.

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  15. seeing this today makes more sense to buy since it went down a little, hope we see a nice bounce and make some good money

  16. Hi Tony, love your videos they are really great thanks. What's your take on this idea? It seems to me that break of pre-Market high does not work anymore but rather once pre-market high is hit it looks more like a good short entry. I feel like momentum is not really strong in the penny stock market and any gappers pre-market tend to fade after the open.

  17. Nice video keep it up. 2 questions. how old were you when you found out about trading the stock market? and how old were you when you started trading?

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