Category: The Crypto Den

Welcome to this weekly series from the TradeRoom. My name is Dave and I’m the founder of The Crypto Den, an Australian-based crypto trading and education community aiming to give you the knowledge to take your trading game to the next level.

Crypto Market Outlook

Well, not much has changed on the TOTAL Crypto Cap since last week. Still hovering around that US$1.7 trillion area, still inside the bearish channel, still below key resistance and still below the daily 200 EMA. Nothing spectacular has happened with volume coming into the market as yet either, so I’m really not seeing anything here to get excited about. I still see the potential for a 30 percent drop, which will take us to a US$1.2 trillion valuation.

BTC/USD

BTC has seen a small pump from US$35,000 to US$40,000 over the past few days, which has seen a lot of crypto socials get excited. But not this guy! Don’t get me wrong – a US$5,000 swing is no small thing, but it’s not big enough yet to really send us to the moon. We saw it happen in December where price action climbed US$6,000 and to the 50 percent Fibonacci level before further downside. This time it’s done almost the exact same movement, pending more downside.

I’ve said it a few times recently that I’m not bullish until we see a break above US$46,000. If we reverse here, does that mean I miss the bottom? Yep! But as traders, we aren’t searching for tops and bottoms as such, we are looking for clear directions and changes in market structure. That’s how you safely assure profitable trades.

I maintain there is huge potential to see BTC revisit the highs of the 2017/2018 bull run, and the chart below shows just how easily it could happen:

With geopolitical tensions changing each day, I don’t see this as out of the question. Gold and oil are both on the rise again after some profit taking, while the SPX is also having a relief rally. This lines up well with BTC having a bit of a run, but it will likely be short-lived.

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Last Week’s Performance

ADA/USDT

Over the past few months and in last week’s article, I’ve outlined my intended trade for ADA, taking a short position at the break of the US$1.00 level. It’s currently down 20 percent from entry with (hopefully for me) a lot more to come. The first big profit-taking target is still US$0.30.

NEO/USDT

I’m still in this Neo short, which is shown clearly in the RR tool on the chart below. I entered at a daily level of resistance and have a TP set for US$16.00. If BTC continues down, I’ll likely let some of this ride.

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This Week’s Trades

WAVES/USDT

In the group, we’re looking for coins that have seen larger recoveries than others for short positions. One we’re watching at the moment is WAVES, as we’re seeing a buyer exhaustion wick at daily resistance so candlestick analysis is good, showing a potential 36% drop, which for us in the TradeRoom using leverage, that’s potentially a 360% profit. If the trade goes wrong, we’ll have a stop loss put in place to minimise our losses.

SOL/USDT

Another big one to watch out for is SOL. If the US$77.00 level breaks, there’s nothing there stopping it revisiting US$21.00 if BTC dumps. I’m already in a short trade on SOL from US$113.00, so won’t be entering any new positions on SOL.

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Learn to Trade

We are giving away 3 months FREE TradeRoom (valued at $300) to those who join our LIVE Trading Fundamentals course starting TONIGHT at 7pm!

The Crypto Den is holding its first of only two trading courses for 2022 on February 28! That’s right, we will only be running two programs in 2022! What makes us different? Our lessons are LIVE and come with a community where you submit your homework and receive feedback to ensure you understand what we teach!

Duration: 6 week course
Date/Time: Live trading course twice a week – Mon & Wed at 7pm AEST
Frequency: We now run our LIVE course only twice per year
Location: Zoom Webinar
From: February 28 to April 13

The Crypto Den’s Trading Fundamentals trading course is a LIVE interactive course designed to teach you how to trade the crypto markets from absolute beginner level!

Our six-week program teaches you how to set up your trade accounts using reputable exchanges and brokers, how to read the charts using technical analysis, and to protect your capital using effective risk management strategies.

We have taught thousands of students in the past five years how to trade these volatile and highly profitable markets. See our REAL reviews from REAL students.

Using ZOOM twice a week, all of our lessons are LIVE and recorded so you can access them over and over again in our structured course through our website and smartphone app. Lessons come with homework and online quizzes, as well as an amazing online and private community of students.

So what are you waiting for? Join now to start learning!

---

Already Know How to Trade?

Invite to Join our TradeRoom

If you’d like to become a better trader, you’re invited to join our TradeRoom where we share daily charts and market analysis. In our community we strongly encourage and teach correct risk management strategies to keep our members safe in this new volatile crypto market.
Join our “Apprentice” plan now for your 7-day trial.

---

The Crypto Den was created in 2017 to help the rapidly growing crypto community learn and understand the fundamentals of digital currencies and how to trade them. 

Since then we have taught thousands of members the basics of technical analysis and trading strategies to further progress and perfect their trading abilities.

In the TradeRoom you will be included in a supportive environment which encourages personal growth, education and community support.

It’s a place to share your trading ideas and follow other experienced traders’ feeds to help keep your finger on the pulse of such a volatile market!

Welcome to this weekly series from the TradeRoom. My name is Dave and I’m the founder of The Crypto Den, an Australian-based crypto trading and education community aiming to give you the knowledge to take your trading game to the next level.

Crypto Market Outlook

In last week’s article we took a look at the BTC CME Futures chart (BTC1!), which showed a “gap” at the US$32,000 level. Looking at this week’s BTC1! chart we can see this gap has now been filled and BTC has since had a nice little relief rally to just over US$40,000.

We are still below the daily 200EMA and the lack of volume in this current “pump” isn’t convincing us of a reversal just yet. Market makers are likely to stop hunting and build a bit of FOMO before more downside. We have learnt in our community that when a market is bear the way it is now, its best to be cautious.

BTC still has a lot of work to do to turn me full bull, with the most important level of support/resistance over the past 12 months currently being tested. This equilibrium is the make-or-break point in either direction. A clear breakout and positive retest sends us to the moon again while a rejection here could see us closing lower price action gaps and maybe even testing the high of 2017.

Total crypto cap has also seen a jump from US$1.45 trillion to US$1.9 trillion, but still trending down inside that parallel channel.

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Last Week’s Performance

ATOM/USDT

I shared this trade last week and the target hit perfectly. The initial entry was missed, but this played in our favour as we found a better one! Took profit at 300% on 10x for this one.

KSM/USDT

An absolute banger of a trade found in one of our Thursday night market scans in our TradeRoom has us currently sitting at 258% profit. We found a beauty of a triple bottom entry with an amazing risk-to-reward ratio! This is what TradeRoom is all about! Helping each other find QUALITY trades!

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This Week’s Trades

We have a lot riding on BTC price action at the moment and until we see some bullish closes on the daily, I’m a little hesitant in sharing either long or short trades from the group.

For long trades, which right now would be considered counter-trend trading, we would be more so looking for some relief rally setups similar to what BTC has just done on ALTS.

For short trades we will be looking for coins that have already had their pump into resistance.

It’s really important to be wary of BTC having a sharp turn and dumping, which will of course void and long trade setups. If BTC ranges here a few days, we could have some nice longs on ALTS.

UNI/USDT

UNI looks like it wants to have a breakout after some consolidation which has potential to be a profitable trade. Important to note that it’s a counter-trend trade and comes with additional risk, but potential reward looks promising.

DOGE/USDT

I think this is a big one to watch. If DOGE rejects here at this US$0.16 level and BTC has another dump, there’s nothing stopping DOGE dropping to US$0.04. If that happens, it would be a massive 720%! Stranger things have happened.

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Learn to Trade

We are giving away 3 months FREE TradeRoom (valued at $300) to those who join our Trading Fundamentals course starting February 28!

The Crypto Den is holding its first of only two trading courses for 2022 on February 28! That’s right, we will only be running two programs in 2022! What makes us different? Our lessons are LIVE and come with a community where you submit your homework and receive feedback to ensure you understand what we teach!

Duration: 6 week course
Date/Time: Live trading course twice a week – Mon & Wed at 7pm AEST
Frequency: We now run our LIVE course only twice per year
Location: Zoom Webinar
From: February 28 to April 13

The Crypto Den’s Trading Fundamentals trading course is a LIVE interactive course designed to teach you how to trade the crypto markets from absolute beginner level!

Our six-week program teaches you how to set up your trade accounts using reputable exchanges and brokers, how to read the charts using technical analysis, and to protect your capital using effective risk management strategies.

We have taught thousands of students of the past five years how to trade these volatile and highly profitable markets. See our REAL reviews from REAL students.

Using ZOOM twice a week, all of our lessons are LIVE and recorded so you can access them over and over again in our structured course through our website and smartphone app. Lessons come with homework and online quizzes, as well as an amazing online and private community of students.

So what are you waiting for? Join now to start learning!

---

Already Know How to Trade?

Invite to Join our TradeRoom

If you’d like to become a better trader, you’re invited to join our TradeRoom where we share daily charts and market analysis. In our community we strongly encourage and teach correct risk management strategies to keep our members safe in this new volatile crypto market.
Join our “Apprentice” plan now for your 7-day trial.

---

The Crypto Den was created in 2017 to help the rapidly growing crypto community learn and understand the fundamentals of digital currencies and how to trade them. 

Since then we have taught thousands of members the basics of technical analysis and trading strategies to further progress and perfect their trading abilities.

In the TradeRoom you will be included in a supportive environment which encourages personal growth, education and community support.

It’s a place to share your trading ideas and follow other experienced traders’ feeds to help keep your finger on the pulse of such a volatile market!

Welcome to this weekly series from the TradeRoom. My name is Dave and I’m the founder of The Crypto Den, an Australian-based crypto trading and education community aiming to give you the knowledge to take your trading game to the next level.

Crypto Market Outlook

As I mentioned in last week’s article, we are in protecting-our-capital mode! This is because the past week has only been a good week for those trading in the futures markets and shorting – and I don’t think it’s over yet.

If we take a look at the Bitcoin CME Futures chart (BTC1!), you’ll see two very distinct gaps in price action displayed by the green boxes. Now, generally speaking, these gaps get “filled” (meaning price revisits those levels) 80 percent of the time. The further PA gets away from these gaps, the less likely they will be filled. That being said, we are very much in range of these gaps getting filled, which means the BTC price could very likely revisit US$32,000 and US$23,000. It’s my opinion that IF this does happen, BTC will test the previous top of the last bull cycle at US$20,000.

Comparing this week’s BTC chart to last week’s, you can see the target identified of US$30,000 has not yet been hit and is still very much in play. This will correlate well to the BTC1! gap closing.

We could see a very short-lived relief rally, but once again these are very short-term rallies. My money is still hedged on a further downside.

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Last Week’s Performance

LUNA/USDT

We had a great primary target for a LUNA short which unfortunately was missed, so we hit the secondary target at a retest. This was still a profitable 330% trade on only 10x leverage.

NEAR/USDT

One of the biggest trades from last week was on NEAR, short closing in a whopping 400% on only 10x leverage. We correctly identified the bearish engulfing candle after some indecision and entered. This one well and truly exceeded our expectations, thanks to BTC!

BABYDOGE/USDT

Easily my favourite trade of the week was on BABYDOGE. On a fundamental level, I have absolutely no idea what this coin even is or does and it sound ridiculous, but nevertheless the opportunity was there and we took it!

This short trade was identified in a TradeRoom live market scan and profits were taken at just under 500%. I still have some capital in this trade and have added to my position in the current relief rally. We’ll see how it plays out soon enough!

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This Week’s Trades

BABYDOGE/USDT

As mentioned above, I’ve added to my BABYDOGE short position here, which could be an opportunity for a new trade entry. If this plays out, it could prove to be another 500% on only 10x leverage.

ATOM/USDT

What we look for in a bearish market is the biggest relief rallies to present the better short entries. I think ATOM has painted a good push back to test previous support as resistance, and therefore presents great shorting opportunity here.

When BTC has large dumps like this, the volatility is increased for both up and down swings, making it far less predictable than in a stable market. Because of this, we generally think it is wise to reduce capital input during times of uncertainty.

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Learn to Trade

Unfortunately, due to COVID, we have had to postpone the start date for our upcoming trading course. The next live trading course for newcomers will be on Feb 28; see full details below.

The Crypto Den is holding its first of only two trading courses for 2022 on February 28! That’s right, we will only be running two programs in 2022! What makes us different? Our lessons are LIVE and come with a community where you submit your homework and receive feedback to ensure you understand what we teach!

Duration: 6 week course
Date/Time: Live trading course twice a week – Mon & Wed at 7pm AEST
Frequency: We now run our LIVE course only twice per year
Location: Zoom Webinar
From: February 28 to April 13

The Crypto Den’s Trading Fundamentals trading course is a LIVE interactive course designed to teach you how to trade the crypto markets from absolute beginner level!

Our six-week program teaches you how to set up your trade accounts using reputable exchanges and brokers, how to read the charts using technical analysis, and to protect your capital using effective risk management strategies.

We have taught thousands of students of the past five years how to trade these volatile and highly profitable markets. See our REAL reviews from REAL students.

Using ZOOM twice a week, all of our lessons are LIVE and recorded so you can access them over and over again in our structured course through our website and smartphone app. Lessons come with homework and online quizzes, as well as an amazing online and private community of students.

So what are you waiting for? Join now to start learning!

---

Already Know How to Trade?

Invite to Join our TradeRoom

If you’d like to become a better trader, you’re invited to join our TradeRoom where we share daily charts and market analysis. In our community we strongly encourage and teach correct risk management strategies to keep our members safe in this new volatile crypto market.
Join our “Apprentice” plan now for your 7-day trial.

---

The Crypto Den was created in 2017 to help the rapidly growing crypto community learn and understand the fundamentals of digital currencies and how to trade them. 

Since then we have taught thousands of members the basics of technical analysis and trading strategies to further progress and perfect their trading abilities.

In the TradeRoom you will be included in a supportive environment which encourages personal growth, education and community support.

It’s a place to share your trading ideas and follow other experienced traders’ feeds to help keep your finger on the pulse of such a volatile market!

Welcome to this weekly series from the TradeRoom. My name is Dave and I’m the founder of The Crypto Den, an Australian-based crypto trading and education community aiming to give you the knowledge to take your trading game to the next level.

Crypto Market Outlook

Well, as we expected last week, we’ve seen a slight push/relief rally on the TOTAL and BTC. Nothing to get too excited about unless you’re loading up on short selling positions. The TOTAL still shows bearish market structure below trend, below local resistance and below 200EMA on the daily. Nothing on this chart screams bullish to me at all.

BTC/USD

Last week I suggested we might see a small bullish push and that came with a warning – don’t get too excited! Too often I see crypto communities get a little FOMO and hype whenever BTC has a push after bearish price action, and it’s important to be able to read these relief rallies. A small push to a level of resistance on low volume will generally mean more downside to come.
BTC is still in a bearish market structure and well and truly below the daily 200 EMA. It’s currently sitting at US$42,800 and we see no reason it can’t see US$35,000-30,000 in the coming days-weeks. As soon as the US$40,000 level of support breaks, it’s going to get bloody.

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Last Week’s Performance

Last week my only trades were shorts in ETH and BTC, which played out very well and closed with great profit. So this week I’ll be sharing some killer trades by members of our TradeRoom.

GALA/USDT

Local TradeRoom LEGEND – Dazzling – entered a short trade on GALA. He shared this entry in the Trade-Chat channel and after winning the trade wrote: “One candle and a trendline told me to enter this yesterday afternoon. 87% full locked away. Now looking for next move confirmation to continue down.” THIS is what we love in our community.

He also entered a great short on BTC after one of our LIVE market scans. In the scan, the community was 50/50 in the direction of BTC at the time. I said up in price a bit more and he stuck to his guns, then said DOWN and he nailed it!

NEAR/USDT

One of our TradeRoom Team Leaders shared a great breakout trade on NEAR, pocketing over 400% on a 10x long trade. He identified bullish candlestick analysis at a level of support and breakout from a falling wedge and killed it with this trade!

DASH/USDT

One I shared in the TradeRoom was DASH. Showing a very clear ranging pattern and an ideal short entry and resistance, it was a no-brainer for a 10x short. It’s sitting currently at around 130% and expecting to take some profit at 200% on the US$123.00 mark.

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This Week’s Trades

With the expectation of more bearish price action from BTC, we are looking for more shorts on coins that have seen a decent relief rally to maximise profits. Remember shorting/trading with leverage is HIGH RISK and should only be done by experienced traders!

LUNA/USDT

Luna has had some very nice bullish PA over the last week, and it’s coins like this that see just as big dumps when the market goes red! I’ll be looking at taking shorts at around US$90.00 on a 10x trade. Looking for 150% to 300% ROI.

NEAR/USDT

After our team leader’s great long trade mentioned above, I’m looking at NEAR for a good short trade as well. Like LUNA, it’s seen a strong push to the upside and seeking a corrective dump. If BTC goes red, a lot of these ALTS will do the same and NEAR looks overcooked!

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Learn to Trade

If you would like to learn how to read, understand and trade these charts, I have good news!

The Crypto Den is holding its first of only two trading courses for 2022 on February 7! That’s right, we will only be running two programs in 2022! What makes us different? Our lessons are LIVE and come with a community where you submit your homework and receive feedback to ensure you understand what we teach!

Duration: 6 week course
Date/Time: Live trading course twice a week on Mon and Wed at 7pm AEST
Frequency: We now run our LIVE course only twice per year
Location: Zoom Webinar
From: February 7 to March 21

The Crypto Den’s Trading Fundamentals trading course is a LIVE interactive course designed to teach you how to trade the crypto markets from absolute beginner level!

Our six-week program teaches you how to set up your trade accounts using reputable exchanges and brokers, how to read the charts using technical analysis, and to protect your capital using effective risk management strategies.

We have taught thousands of students of the past five years how to trade these volatile and highly profitable markets. See our REAL reviews from REAL students.

Using ZOOM twice a week, all of our lessons are LIVE and recorded so you can access them over and over again in our structured course through our website and smartphone app. Lessons come with homework and online quizzes, as well as an amazing online and private community of students.

So what are you waiting for? Join now to start learning!

---

Already Know How to Trade?

Invite to Join our TradeRoom

If you’d like to become a better trader, you’re invited to join our TradeRoom where we share daily charts and market analysis. In our community we strongly encourage and teach correct risk management strategies to keep our members safe in this new volatile crypto market.
Join our “Apprentice” plan now for your 7-day trial.

---

The Crypto Den was created in 2017 to help the rapidly growing crypto community learn and understand the fundamentals of digital currencies and how to trade them. 

Since then we have taught thousands of members the basics of technical analysis and trading strategies to further progress and perfect their trading abilities.

In the TradeRoom you will be included in a supportive environment which encourages personal growth, education and community support.

It’s a place to share your trading ideas and follow other experienced traders’ feeds to help keep your finger on the pulse of such a volatile market!

Welcome to this weekly series from the TradeRoom. My name is Dave and I’m the founder of The Crypto Den, an Australian-based crypto trading and education community aiming to give you the knowledge to take your trading game to the next level.

Crypto Market Outlook

Welcome to my first analysis of 2022! I hope all of you had a wonderful break over the holiday period and have been keeping safe!

Bitcoin has seen some nice bearish price action over the holidays, which wasn’t overly unexpected. Coming into Christmas, the warning was basically to expect volatility as when the market loses liquidity it becomes easier for big swings to occur.

In my last article of 2021, I pointed out that the TOTAL market cap was hitting a key level of resistance and it failed to break through spectacularly, wiping off US$500 billion. There’s a pretty good chance we’ll see some consolidation before more downside to the US$1.7 trillion level.

TOTAL Market Cap

BTC/USD

Keeping it really basic this week, BTC is sitting right on what’s probably the most important level of support/resistance. If this US$40,000 level of support holds, my current analysis shows a bounce in price action to US$45,000, however, and here’s the warning – if there is low volume in such a move, I’d be confident in saying it’s a relief rally before further downside. The only point at which I’ll become full bull again is if BTC breaks and closes above US$53,000. Yep, US$10,000+ trading range needs to be cleared before I’m comfortable with a bullish cycle.

Does this mean I won’t trade within this range? No. As traders we stay fluid and move with the market, and trade the session we are in.

For me at the moment, the two most likely moves we will see from BTC are:

• a relief rally to US$45,000, then a large sell-off of over US$10,000 taking us to US$35,000; or
• this current level of support fails and we go straight to US$35,000-US$30,000.

Regardless, I’m still expecting more downside action.
My game plan? Well, I’m already in short trades on both BTC and ETH so I will keep these open until I see some candlestick analysis suggesting an uptick in price action. I will likely add to my positions if we hit the US$45,000 dead cat bounce.

In short, this level of support at US$40,000 must hold or things will get very red very soon.

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Last Week’s Performance

Apart from my two shorts in BTC and ETH, I haven’t really been trading over the Christmas break so I don’t have any to share at this time. So I will share my entries on BTC and ETH:

BTC/USDT

After the first big sell-off from the beginning of December, BTC has seen a bounce in PA back to US$51,000, which was also the 61.8% Fibonacci retrace zone of the previous structure. My reason for entry was the four-day rejection at this key level and buyer exhaustion wicks. On a 20x trade, this short has yielded just under 400% profit in the most recent drop. This is basic price action trading using support and resistance (S&R).

ETH/USDT

Like BTC, my short entry on ETH was based on the basics of S&R and Fibonacci. ETH retraced 61.8% of the previous structure and after four days of bearish candles I entered from a buyer exhaustion wick. This is a 10x trade, currently sitting at 250% profit. The trade is still active.

This outlines the importance of understanding candlestick analysis at key levels of support and resistance and having the patience to wait for the market to come to you.

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This Week’s Trades

This week I won’t be sharing any new trade entries. The reason for this is that I believe at this stage the market will see further downside, and most people are buying and selling assets as opposed to trading futures.

I will be keeping my short trades for BTC and ETH open unless candlestick analysis shows me a reason to close them. I might enter ALT short trades if a good setup is there, but that’s a big maybe. The market needs a clear direction first.

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Learn to Trade

If you would like to learn how to read, understand and trade these charts, I have good news!

The Crypto Den is holding its first of only two trading courses for 2022 on February 7! That’s right, we will only be running two programs in 2022! What makes us different? Our lessons are LIVE and come with a community where you submit your homework and receive feedback to ensure you understand what we teach!

Duration: 6 week course
Date/Time: Live trading course twice a week on Mon and Wed at 7pm AEST
Frequency: We now run our LIVE course only twice per year
Location: Zoom Webinar
From: February 7 to March 21

The Crypto Den’s Trading Fundamentals trading course is a LIVE interactive course designed to teach you how to trade the crypto markets from absolute beginner level!

Our six-week program teaches you how to set up your trade accounts using reputable exchanges and brokers, how to read the charts using technical analysis, and to protect your capital using effective risk management strategies.

We have taught thousands of students of the past five years how to trade these volatile and highly profitable markets. See our REAL reviews from REAL students.

Using ZOOM twice a week, all of our lessons are LIVE and recorded so you can access them over and over again in our structured course through our website and smartphone app. Lessons come with homework and online quizzes, as well as an amazing online and private community of students.

So what are you waiting for? Join now to start learning!

---

Already Know How to Trade?

Invite to Join our TradeRoom

If you’d like to become a better trader, you’re invited to join our TradeRoom where we share daily charts and market analysis. In our community we strongly encourage and teach correct risk management strategies to keep our members safe in this new volatile crypto market.
Join our “Apprentice” plan now for your 7-day trial.

---

The Crypto Den was created in 2017 to help the rapidly growing crypto community learn and understand the fundamentals of digital currencies and how to trade them. 

Since then we have taught thousands of members the basics of technical analysis and trading strategies to further progress and perfect their trading abilities.

In the TradeRoom you will be included in a supportive environment which encourages personal growth, education and community support.

It’s a place to share your trading ideas and follow other experienced traders’ feeds to help keep your finger on the pulse of such a volatile market!