“Big Chonis” joins Real Vision to stipulate potential bullish and bearish eventualities for bitcoin within the months to come back. He makes use of Fibonacci retracements and historic analogs to find out key ranges, and discusses particularly the right way to commerce the present setup, on this interview with Jake Merl. Filmed on June 19, 2019.
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Into the Bitcoin Charts (w/ Big Chonis) | Trade Ideas https://www.youtube.com/c/RealVisionTelevision
Transcript: For the total transcript go to: https://rvtv.io/2L6Wd3c JAKE MERL: Welcome to Trade Ideas. I’m Jake Merl, sitting down with Big Chonis of Chonis Trading. Great to have you ever on the present to your very first Real Vision interview. BIG CHONIS: Jake, thanks a lot for having me, actually respect it. JAKE MERL: Since it is crypto week right here at Real Vision, we might like to get your view on bitcoin, and the completely different eventualities you see unfolding over the weeks and months to come back. But earlier than we do so, are you able to please overview your background, who you’re, and what you do at Chonis Trading? BIG CHONIS: Absolutely. I’ve been fascinated about shares and buying and selling for a few decade now. The previous three years although, I’ve been actually centered on crypto. And that is actually the main focus of my buying and selling as nicely. I’m additionally a characteristic contributor to “Bitcoin Live,” which is an excellent subscriptionbased instructional platform the place I put out content material weekly with different actually nice like-minded merchants. And I additionally do personalised mentoring on-line with college students, to offer them a way of fundamental TA disciplines. And in fact, I’m additionally very energetic on Twitter and YouTube. JAKE MERL: So you talked about your methodology is usually based mostly on technical evaluation. So which indicators and instruments are you taking a look at proper now? BIG CHONIS: The previous few months at bitcoin has been simply super worth motion. Really ever since we broke out of our ascending triangle, round $4,000, Bitcoin is simply going up find yourself with larger lows and better highs. When we’re in a market like this, a really aggressive bull stance proper now, I favor utilizing larger timeframe charts, larger timeframe indicators. Whether or not it’s three-day as much as a weekly chart, to offer me extra of a bias of what the choices of worth motion could be, what the extra significant help areas are. And then what are cheap, achievable bull targets. In this specific worth motion I’m very fascinated about extra of a long run, larger timeframe charts. JAKE MERL: So what precisely are you taking a look at? Which particular charts are you most fascinated about proper now? BIG CHONIS: So with bitcoin right here, we’re at a really fascinating degree, we’re over $9,000. We’ve been holding that for a few days right here. And the massive query is, can Bitcoin actually method the $10,000 space? This was an space which stopped a bullish transfer a 12 months in the past, after we received mainly stopped just below Ok. And ever since then, we have mainly been on this decrease lows market right here. So the psychological barrier of $10,000, simply the achievement in itself. And if we have been capable of get Bitcoin above 10Ok, we actually have to begin asking the query, is the bear market actually over? Is this that worth degree that we’ll say we’re mainly out of the hazard zone? That the low is in and we’re solely type of transferring up from right here. My feeling on that is, we are able to positively break by way of 10Ok.
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