Bitcoin Cryptotrading Basis Guide Book by Reslav

Bitcoin Cryptotrading Basis Guide Book by Reslav
I wrote this lecture on the methodology of successful trading, and more specifically on tactics, strategies, subtleties and recommendations, based on 2 years of work on Bitmex, Binance, Gate, Okex bitcoin cryptocurrency exchanges in real combat conditions. Guided by this technique, I managed to earn 500% in excess of the deposit for 7 days of trading (i.e. I increased the deposit amount by 5 times!). These are not fairy tales, but reality, that is, confirming statistics of exchange transactions on the account of the crypto-exchange.
I believe that the knowledge provided in this course will help a beginner to master successful trading only if the course is not only read, but also outlined. It will be important to follow punctually, commenting on your actions in your notes.
In separate consultations, I could give personal instructions on the nuances of technical analysis on various timeframes, signals on entry points, information on trade automation software (algorithmic trading robots), and other tools useful in the work of a trader. But, despite a lot of additional software, my experience has shown that the most effective speculation model on the cryptocurrency and stock exchange, which everyone chooses for themselves based on practical experience, is directly in the online trading mode on exchange terminals. Each exchange is good in its own way, but also has its drawbacks. I chose the best solution for myself and am sure that this is temporary. Perhaps in the future there will be more progressive decentralized exchanges with good liquidity and they will replace the existing platforms managed by market leaders.
Various digital designations, such as: — in what percentage of the deposit do you enter into a particular transaction; — where to put stop limit or market (Market) (market) orders (and whether to place them at all), where to exit the transaction and how. Again, I note that all the selected values ​​are usually individual and depend both on the time trading intervals (TimeFrame) (1m 3m 15m 1h 3h 4h 6h 1 d 1w 1m) and on the deductible amount of the bet in % percentage of the amount of your deposit.
It is important to remember that trading in the cryptocurrency market is a high-risk investment activity that everyone chooses and carries out at their own risk. Remember that with a big bet on the whole, as they say, a patty, and even with 100x-500x leverage, you risk losing your entire deposit right away. An exchange machine or a well-tuned and trained professional broker robot does not cost anything to go against the trend with a tidbit — easy prey. Do not be hamsters i.e. naive simpletons — do not merge the deposit into zero due to elementary greed, incontinence, ardor and other factors that contradict the qualities that a professional trader needs to succeed in trading, namely: cold-bloodedness, endurance, accuracy, punctuality, tact, quick reaction , the ability to quickly enter numbers and timely press the desired buttons.
You ask me: “Hey … guy, you are so smart … I wonder how much you earned from trading or how much you earn or why you don’t do it yourself … why do you need competitors?” — I will answer you: it is no secret that AI (artificial intelligence) has been working on the exchange for a long time and it is constantly improving, but this still does not prevent a person from continuing to beat him. I hope that in the future this trend will not stop otherwise — we have disappeared. And as regards competition — do not worry so much for me, because there is still a trading idea, program or terminal that I have not yet implemented and not reported in this guide after its publication and, perhaps, it will not deprive me of future trading opportunities.
So, the instructions that I follow in the process of trading cryptocurrencies on the exchange terminal in online mode.
  1. It is necessary to wait for the moment of the entry point. You need to enter the deal only then, you feel it and foreseen it in advance according to the levels of the daily period.
  2. It is necessary to carefully weigh their capabilities, ie to consider funds, understanding that futures trading (with leverage) leads to greater risks of liquidation / margin call (MarginCall).
  3. During growth, you need to fix profit and try to sell at a pullback. It is always possible to re-enter a deal, but it is unlikely to return lost profits, instead, you can get several hours of dead weight in the price movement opposite from the planned direction.
  4. It is very important to have cost control, namely, the timely Stop Limit (stop trade order) + sliding Stop Loss (the same thing, only with insurance against a sharp price movement).
  5. It is easy to understand the wave component and accept the movement by levels — press exit buttons in time at 2% and + 10% according to the 1 to 5 principle (we risk one part of the deposit against 5). The Pareto effect has not been canceled: 20% activity, gives 80% effectiveness.
  6. To work with Japanese candles, the ability to draw support levels and resistance lines is enough, but this is not enough for a professional, because the presence of modern advanced indicators, such as MACD, SRSI, Ichimoku Cloud / Signal, horizontal and vertical volume indicator and so on, is very important. Everyone chooses for themselves the indicator that brings more profit to a certain trading range. But remember — the main criterion for success is an understanding of the laws of the market and trade by market. Perhaps this applies to the field of extrasensory perception, metaphysics, and other obscure and hard to prove phenomena and sciences, but one way or another — intuition is clear and has a place to be.
  7. In no case should you enter into short-term breakthrough deals on minute trading with market uncertainty. The situation where minute fluctuations may seem like reversal movements is often quite misleading. If you are in a pose (bull — for growth / long or bear — for fall / short) do not retreat and the market will not slow you to please you with profit. Often, a stock price feed / the same chart manipulates the minds of players, displaying false breakdowns and minute movements, on the basis of which you can not rely on a trend change (this lie is especially evident in minute time intervals / timeframes). In such cases, make decisions only at fundamental levels. On the hourly chart you will see a more truthful picture, because globally, on markets other than minute timeframes, the market is less susceptible to momentary manipulations. This knowledge will give you firmness in the intention and decision-making to remain in the chosen position and not to respond to minor market manipulations. During the day, you may repeatedly wish to unreasonably enter into such transactions, but remember that in this case you will be guaranteed to drain the deposit. Remember — the market from the middle of the trend will go up up or down and hit the stop limit order placed by you (if you play with a large leverage not for your money), after which it will go in the right direction you have chosen. Although in general the situation is banal — you are led by the nose like thousands as well as you. The only true method is to use common sense and avoid uncertainty when trying to enter a pose. A historical analysis of prices, the frequency of ranges (delta) of ups and downs, the degree of volatility and fundamental approaches — to help you. I also want to add that success is in your hands and it consists in the realization of the need not to merge a deposit under any circumstances.
  8. You cannot leave the market unattended, the alarm of the price change alarm is not in your favor or without a stop limit at a reliable exchange platform (broker).
  9. Once again I repeat, you must be prepared in advance for the fact that the market is deceiving and unexpected movements can often occur and your task is to secure your funds with a stop on the market or to fix profit by a floating stop or a fixed stop limit.
  10. Risk management — the basis of success in trading when trading with leverage (margin trading). It is usually recommended to go into a deal at 2% of the deposit with x leverage and stop from profit in the ratio of 1 to 5. What does this mean and why is this risk / profit sharing technique so important?It is necessary to clearly calculate probabilistic lumbago in order to avoid elimination. I recommend you not to rush into bets, but to take a sheet of paper and bargain virtually in order to understand whether your calculations were correct. A virtual game is worth nothing, but it will save you money and keep the deposit safe and sound.
  11. The wave theory assumes entry into the transaction after completion and a clear change in the previous trend based on signals and the news background, incl. experience of the current subject of trade — the operator pushing the buttons. For example, in the absence of price movement in the direction of the RSI indicator, analysis of all time frames with indicators, fibonacci levels, correction degree phase, time of day in time zones, stock and commodity market readings.
  12. It is important, before starting trading, test the presence of a manipulator on the market using the method of high rates. If you are looking for an entry into a major deal in a few weeks, keep in mind that a stop with a loss can be a significant amount in the money equivalent that you are ready to lose, and if the deal does not take place in your favor, you must set yourself up in advance for what it should be. Because a successful trader is not one who regularly guesses successful transactions, but one who successfully completes one out of five transactions according to risk management and the calculation of the leverage calculator in accordance with the chosen strategy.
  13. A lost position can be closed without waiting for the reverse restoration of the bidding process, thus manually participating in the balance adjustment or by setting a stop limit order in advance or after the bid in case of further decline or growth.
  14. There is an assumption that at the end of the working day, with a likely depreciation, traders convert stocks into fiat (money), which contributes to a depreciation, but this is not accurate)
  15. Incorrect entry into the transaction. How important is it to exit an unsuccessful transaction as early as possible or at the first rollback to change the direction of the trend or wait to determine a new entry point.
  16. The presence of two accounts on the exchange terminal is possibleand desirable in order to be able to remain in a winning position regardless of the success of the initially selected trading direction (a technique requiring careful verification by personal experience with a clear definition of the margin leverage and % of the entry into the transaction from the deposit balance to minimize the risk of loss).Successful trading does not consist in the ability to conclude as many successful trades as possible, but in minimizing losses.
  17. Technology is improving and strategies are changing. Before entering a transaction, it is necessary to carefully analyze the current market situation using a comparative analysis, studying the general news background (guided by the ***“buy for expectations — sell on the news”***postulate), detecting a flat (sideways), determining the level of instrument volatility (gold, oil, funds , bitcoins / cryptocurrencies — digital coins, etc.)
  18. Immediately put a stop — is a guarantee of success or a drain of the deposit? After all, how to cope with their own feelings and not get into anxiety about a successful or unsuccessful transaction? The gradual entry scheme works well.
  19. Coins. We look at the trading delta with the help of a robot scanner and make a decision based on all the above criteria in the course. It has been noticed that amateurs buy coins in the hope of growth. Remember, the market for altcoins is not growing now.
  20. A favorable time for earning is at the time of a flat, which usually occurs after the rising flag or the implementation of a bull pennant figure, etc. It will be more clear to observe the schedule in real mode and make the required notes in your own mind.
  21. On the cryptocurrency market, some laptop microprocessors are heated and the fan turns on at peak times. This indicates the beginning of a sharp movement and is a signal to enter the deal. Therefore, you can not only observe the behavior of the market, but now also listen (this is my personal note, it is unlikely that you will find such information somewhere else, as they say — an exclusive / VIP signal;)).
  22. You can still write a lot about time, how much can or should be spent on the monitor, on which timeframes to trade and which strategies to follow, but everyone should choose this independently and preferably, under the guidance of a specialist, because what is applicable to one is to the other — contraindicated.
In fact, any market situation should be beneficial for you due to successful risk management*!*For successful online trading, it is very important to use candlestick and technical analysis*, which help to more accurately determine the entry point to the transaction (purchase or sale).*You cannot act at random when the market is hard to predict and often ready to follow your footsteps.If you lose, then I do not recommend immediately going to recoup*, because trade should ultimately be break even. In ardor, you are likely to enter into an unsuccessful deal and lose even more than before. This situation will make you very sad, so do not make this mistake. She is famous.*Use a modern powerful laptop or desktop computer with a convenient side numeric keypad, a large screen and a convenient manipulator (mouse) so that when you press the buttons you have as little physical braking and stops as possible. Practice in advance to work in the browser on the exchange terminal without making a deposit on futures trading from the exchange wallet. This training practice will reduce your losses.
Hello from Ukraine, Kramatorsk city ( “War is peace / freedom is slavery [and] ignorance is strength.”)
Reslav Cryptotrader (if you need find me look around — me be i near ;).
To be continued…
Nowadays, money strives to be counted more and more. Using the information technology of databases with indexes, it has become possible to automatically and instantly capture and display the information that was previously collected by entire departments of the state within a month and after manual entry was displayed on the screens of industrial monitors and public television. The era of the Internet has come, the time of the accessibility and decentralization of information.
Today we see stock chart quotes of stock prices of leading world companies online. Everyone has the opportunity to invest their money in these stocks and earn on the difference in exchange rates of their value. A speculative market was formed on this basis, where leaders appeared who were able to act most efficiently and, accordingly, earn money. Many specialists are studying the nature of success in speculative markets.
Many works on methods of achieving success in trading are morally obsolete due to the emergence of new technologies for calculating and controlling the money supply, for example, such as Bitcoin. After all, back in 2009 for 1309.03 BTC they gave 1 dollar. Today 1 BTC costs $ 9,000. This is due to the fact that since the appearance of bitcoin has never been hacked and the technology has shown its reliability and consistency, as a measure of the money invested in it. I will not go into the details and subtleties of Bitcoin technology, but I will note one thing — this is cryptographic software that was used in the banking sector as Swift payments, but transformed into a P2P peer-to-peer network of private computers, as a result, like Bittorent, it became public, hard controlled, commons. Bitcoin provides for a complexity bomb, which complicates each year, and therefore makes it more expensive, its limited production, and this is one of the main reasons for its rise in price. As well as the fact that Bitcoin is convenient for storing funds, as it is liquid and it can be easily sent without quantity restrictions and with high transaction (transfer) speed. All details about Bitcoin are available in open sources and you can find out everything about it on the Internet, as well as the alternative coin market (altcoins / coins), such as Ethereum, USDT (dollar tokens confirmed by a US company with real dollars in bank accounts) etc.
Around this market of bitcoin cryptocurrencies, the same speculative matrix (network / exchange) arose as around ordinary currencies and created such a strong competition for traditional assets that many governments adopted it and began to use and implement technologies that arose in their turn base. Cryptocurrencies or blockchain (cryptographic chain / blocks / chain) began to be introduced in public sectors of the economy for calculating and controlling public commons, such as electricity, land, etc.
Further, on the basis of this market, the need for regulation arose and the US authorities were very worried about the uncontrolled development of technology, on the basis of which a news background (negative or positive) arose, which powerfully affects cryptocurrency rates. In the era of information, this network began to act as a money pump, skillfully pumping money from the hands of inept speculators into the pockets of experienced traders.
As a result of reading a lot of books, watching various telecasts in the industry of bitcoin trading analytics, I came to the conclusion that successfully trading cryptocurrencies is akin to art and as statistics have shown, only 20% in 2–3 years are able to consistently earn money, and of which, in turn, only 2 -3% become billionaires.
I bring to your attention a technique by which you can enter the ranks of these 20% successful traders and possibly, jointly, open the door to those notorious 2–3% successful traders who are fortunate enough to touch the notorious golden fleece and discover the world of unlimited financial opportunities.
All knowledge is available in open sources and collected by me in the book “Basics of Bitcoin Trading from Reslav” (2019), most of them are available.
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Crypto Became a Gambler’s Paradise?

Comparing cryptocurrency trading to gambling is like comparing crypto tribalism to religion: the analogy is correct, but it’s also tired. What bears emphasizing, then, isn’t that crypto trading and crypto gambling are often indistinguishable, but the extent to which the two disciplines permeate the cryptosphere. From the most popular dapps to the leading hacks, everything of interest within the space can be interpreted as a form of gambling. It’s the reason why crypto is so fascinating and so addictive.

The Whole World Is a Game

The gamification of everything is the endgame of life itself. Soon it will be impossible to go for a jog without receiving a high score or being showered in shitcoins for your efforts. Competition is what drives us as humans. The desire to be better than one’s fellow man or woman is the reason we’re here today on the internet, and not still living in mud huts. Combining money, mathematical puzzles, economics and copious amounts of game theory, crypto is a heady concoction of all the things that spur a man to get out of bed in the morning and conquer the world.
And the use of “man,” on this occasion is deliberate. There are many reasons why crypto has been historically male-dominated, some of which are too contentious or tangential to delve into here. This much, however, needs said: men are greater risk takers in life. It’s why their fortunes are more likely to fall in the extremes than in the mean: atop the mountain or in the gutter, but rarely in between. It’s also why crypto’s greatest success story so far has been letting men do what they were gonna do anyway: gamble, both literally and loosely, while striving to stack more sats than their peers.

Gambling on a Future for Dapps

What is altcoin trading if not a game to end up with more BTC than you started out with? Whether you get there through charting ichimoku clouds or rolling high-low in a crypto casino seems immaterial. To understand the extent to which gambling dominates the cryptosphere, there’s only one place to start – the dapp store. Hit up your favorite dapp tracker (Dappradar or State of the Dapps are probably best) and take a look at the most popular decentralized applications on each chain.

Top 10 dapps according to Dappradar

State of the Dapps notes six of the dapps in its top 10 as being gambling. Dappradar, which records more crypto networks, including Tron, also has six gambling applications in its top 10. Leading the pack is Wink, the betting platform that uses the same principles as’s Cashgames: instant wins, micropayments, and provably fair gambling. Wink can be accessed as a conventional casino or on a game by game (i.e dapp by dapp) basis. In most respects, Wink is indistinguishable from any other crypto casino, with the primary difference being the way in which it’s accessed.
Online casinos can be banned and geo-restricted, as often occurs at national level. Dapps, while not the censorship-resistant paradise their proponents would have them, are a lot harder to block. It’s no surprise that many of the most popular gambling dapps have struck gold in Asia, where download links are shared in Wechat groups and where wagering on life is a way of life for many.

Trading or Wagering?

Not all gambling dapps can be neatly filed into the gambling category. How to interpret Bulls vs Bears for example? Like many of the leading dapps on Tron and EOS, it’s dubbed as gaming, rather than gambling, and as a skill-based endeavor, that’s technically correct. Players don’t compete against the house, and since the game calls for predicting crypto market trends, there’s skill involved. With talk of a “dynamic wagering environment” and large jackpots, though, it’s clear who the dapp’s target demographic is. Like many new dapps trying to bootstrap, Bulls vs Bears relies on giveaways (in this case TRX tokens for signing up) as a means of getting bodies through the door, or rather users on the protocol.
In condensing the act of trading into basic binary options – high/low, bull/bear, the dapp bestows the same duality that bifurcates so many other domains in life, from U.S. politics to dead rappers. Are you a bull or bear? Republican or Democrat? Biggie or Tupac fan? Somewhere out there is a dapp for that, where you can wager on binary options for all the things you love and hate.
Further blurring the lines between what constitutes gambling and what’s trading is Guesser. Built on Augur, it’s technically a prediction market that uses crowdsourced wisdom to determine probable outcomes. In reality though, it’s a betting dapp, and a very neat one at that. Guesser appears to have given up all pretences of operating a prediction market, inviting users to “Bet up to” a certain amount on each market.

There’s More Than One Way to Beat a Dapp

While crypto users have been filling Telegram and Wechat groups with gambling dapp strategies, a handful of more enterprising individuals have been working on their own means of beating the system. In crypto, as in everything else, there’s always a way to fast track your way to riches, provided you don’t mind breaking a few rules along the way.
Eosplay usage briefly dropped to zero after an attacker found a way to drain the pool of EOS.
Eosplay is the sixth most popular gambling dapp on EOS. For a short while, over the weekend, it was also the most profitable for whoever rented a bunch of resources and used them to clean out 30,000 EOS from the contract. Call it genius, cheating or a bit of both, it was an effective case study in unorthodox ways to beat the house.
People can moan about the rough edges around defi protocols, the unreadability of bitcoin addresses, and the complexity of wallet recovery, but not everything in crypto is quite so wonky. Gambling has been a mainstay since the beginning of Bitcoin, and developers have gotten extremely efficient at it. If crypto builders can approach other ecosystem verticals with the same gusto with which players and devs have approached gambling dapps, mainstream adoption is just a UX breakthrough away. Where there’s a will to innovate, there’s a way, and when there’s money wagering on it, no problem is too big to solve.
From casinos to bitcoin, formerly fringe interests have now been normalized, thanks to those willing to put a punt on them when no one else would. Where gamblers lead, the mainstream tends to follow.
Do you think gambling is one of the best use cases for crypto to date? Let us know in the comments section below.
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How to Trade Bitcoin Part 1: Getting Ready to Trade

The first part of our bitcoin trading guide series explains the basics of bitcoin and trading terminology. Instructions are also provided for buying bitcoin and getting ready to trade on We originally produced the first part of this guide for our own traders to get started with our platform. However, after some really good feedback we thought we should share it publicly too. So please bear with us if it is quite orientated to our own platform. Future parts will be much more applicable to trading in general.
Here is what we have planned for the series:
1) Getting ready to trade (this post)
2) Making your first trade
3) Basics of technical analysis
4) Advanced TA
5) Developing a sustainable strategy
Please let us know if there are any topics you would like specifically covered and whether or not articles are the best format for learning.
Why should you listen to what we have to say?
Our CEO turned $100 into $200k by trading bitcoin, our COO previosuly worked at senior management level at Deutsche Bank and UBS, and one of our advisers has a Wall Street background as a Portfolio Manager and is a Chartered Market Technician.
This article begins with an overview of bitcoin, how to buy bitcoin and how to manage risk. The remainder of the article focuses on understanding trading terminology and creating a bitcoin trading account on
What is bitcoin?
Bitcoin is a digital currency that uses encryption, rules of mathematics and a decentralized network to control the creation of more bitcoins and verify transactions. Bitcoin was designed to operate as ‘digital gold’ — it resembles a commodity but can be used as a currency. Bitcoin can be traded for fiat currency, like dollars or pounds, creating opportunities to profit from trading price fluctuations.
Why is bitcoin so volatile?
Compared to the price of gold, the price of bitcoin has exhibited much larger price swings. Typically the price of gold will change by just a few percent each week, but bitcoin’s price often changes by 10% or more — even in a ‘flat’ market.
Volatility is generally considered a good thing by bitcoin traders because it creates opportunities to buy lower and sell higher than flat markets.
The primary reason why bitcoin is volatile is because it has a small market cap and low trading volume. Market cap is the number of units (bitcoin here) in circulation multiplied by the value (bitcoin price here).
For example, bitcoin has a market cap of about $3 billion vs $31 billion for the a gold ETF (GLD is the most popular American gold investment vehicle). Additionally, the daily average trading volume for bitcoin is about $12 million vs approximately $939 million for the gold ETF.
The result of this small market cap and low trading volume is that less trading less money is required to make a large difference in supply and demand.
For instance, if a trader wants to buy $3 million worth of bitcoin this represents 33% of the daily trading volume and would push the price up approximately 14%, at the time of writing. However, buying $3 million worth of the gold ETF is just 0.3% of the daily trading volume and is nothing compared to the hundreds of millions of trades that influence gold’s price.
Further information
The information we have provided about bitcoin is only the bare essentials a trader needs to know. If you are completely new to bitcoin, also consider exploring these external resources:
We Use Coins
Bitcoin Wiki
2. How to Manage Risk
Risk of buying bitcoin
As discussed above, bitcoin is an extremely volatile asset. Besides increasing in value, bitcoin’s price can also dramatically fall. When buying bitcoin, never invest more than you can afford to lose.
You cannot lose more than you put in, so don’t put in more than you can afford to lose and you’ll be all right, even in the most negative case. - Rpietila, Bitcoin and commodity investor
Risk of trading bitcoin
Furthermore, investing more than one can afford to lose reduces a trader’s ability to make good decisions. In particular, there is a risk of ‘panic selling’ when the market declines slightly. Instead of holding throughout a market dip, someone who is over-invested may panic and sell-off their holdings for a low price — attempting to cut their losses. This tends to lead to losing more money when the market recovers and the trader buys back at a higher price.
Simply, the best way to manage your risk is to not invest more than you can afford to lose. At, losses cannot exceed your deposit — so simply make sure this is a comfortable amount for you to trade with.
3. Understand Basic Bitcoin Trading Terminology
Trading is the act of buying, selling or exchanging one asset for another. Exchanging Bitcoin for US dollars, for instance, is trading.
A position is similar a trade, which can either be long (buying bitcoin) or short (selling bitcoin). Like a trade you profit from a long/buy position when the price rises; and you profit from a short/sell position when the price falls.
Unlike a trade, a position has an open and close. At you begin by depositing bitcoin. Then you may acquire more bitcoin or US dollars by opening a position. When the position is closed you are left with just more or less bitcoin than the value deposited — this depends on how profitable your position was.
Trading platform
A trading platform, like, is a place where traders go to enter positions. Unlike an exchange, it is uncommon for to use platforms for exchanging one asset for another. Typically trading platforms also include more advanced features, such as leverage.
Leverage is borrowing assets for the purposes of increasing potential trading returns. This is also known as margin trading.
Trading with 10x leverage on, allows you to deposit 1 bitcoin and trade with 10 bitcoins. When you are done trading (closing a position) you return the 10 bitcoin and keep any profits made.
For example, let’s say your trading has been going well and you are consistently making a 10% return each week. Trading with 1 bitcoin, your profit is 0.1 bitcoin. However, with 10 bitcoins your profit is 1 bitcoin — this is the power of leverage when used correctly.
Although leverage does also increase trading risk exposure, your losses can never exceed your deposit at Furthermore, your risk of an exchange failure is reduced because you are trading with 9 bitcoins that belong to and only 1 bitcoin of your own.
Unlike trading platforms, investors use exchanges to swap an asset for another. For example, Bitstamp allows investors to trade their local currency for Bitcoin, or vice versa. Exchanges are the main determinants of bitcoin’s price because they contain an order book.
At an exchange you can either be a market maker or a market taker.
Market maker
A market maker sets the price they wish to buy or sell at and waits for a market taker who agrees to that price.
Market taker
A market taker finds a market maker that is offering a desirable price and quantity then immediately trades with them.
Order book
An order book is a list investors wanting to buy and sell an asset at specified quantities and prices. These are the market makers. Below is an annotated explanation of a bitcoin exchange order book. Picture the order book as a very hectic auction and the concept should be easier to understand.
Sell orders: “Asks”
This part of the order book lists the prices and quantities investors wish to sell bitcoin at. Here the cheapest seller is offering 2.3467 bitcoin at a price of $244.58. As these investors are asking for a price to sell at, these are called asks.
Buy orders: “Bids”
This part of the order book lists the prices and quantities investors wish to buy bitcoin at. Here the most expensive buyer is willing to purchase 0.5 bitcoin at a price of $244.43. As these investors are bidding for a price to buy at, these are called bids.
Current bitcoin price
This is the last price at which bitcoin was exchanged for US dollars. Given that buyers will fulfill the cheapest ask, and sellers will fulfill the most expensive bid, the price will always fall between the the cheapest ask and most expensive bid.
In this example, the price is $244.39 — the same as the most expensive bid. This means that the last bitcoin trade was a market taker selling to a market maker. This is also a demonstration of a seller always wanting to sell to the highest bidder.
Order book depth
This depth graph visualizes the amount of asks and bids at various prices. The more bitcoins that are available at a price, the ‘deeper’ the graph is. Naturally, as sellers do not want to ask for cheap prices and buyers do not want to buy for expensive prices, the graph is normally shallow in the middle.
If the chart is one-sided, it suggests that the market may be feeling bullish or bearish. In the above example, a lot of investors want to sell at $245 which would make it difficult for the price to rise beyond that. Conversely, the shallow graph on the bid side shows not many people want to buy bitcoin at these prices. This is typical of a bearish market.
Order book execution
An important feature of is that the positions our users open/close make buys and sells on exchange order books. In practice, when our users click buy, US dollars is used to buy bitcoin from the order book bids. Conversely, when our users click sell, bitcoin is sold for US dollars from the order book asks.
Why is this important?
Firstly, when you trade on you do so with leverage. This means you can have a larger impact in the market and move the price in your favour. In the above example using just 1.3 bitcoin at 10x leverage would create buy 13 bitcoin from the asks. This helps drives the price up because now the cheapest ask is $244.61. If the market sees this as a bullish sign then others may follow, sparking a price rally.
Secondly, order book execution means that does not trade against our users. Trading platforms that do not offer this execution are acting as market makers and stand to profit from their traders losing money. At we want our traders to be profitable so they can keep trading.
*4. How to Buy Bitcoin * As a bitcoin-only trading platform, only accepts bitcoin deposits. This allows you to begin trading in minutes and without verifying your identity.
If you do not yet own any bitcoin there are a number of places that bitcoin can be bought from, including:
Click here to see other ways to buy bitcoin in each region of the world.
To store your bitcoin you will also need a wallet, such as MultiBit or
5. Create an Account on
Once you have bitcoin, you are ready to start trading. Head over to to begin the registration process.
1. Click ‘Sign Up’
2. Enter your details and read and agree with the terms of service
3. Click on the email activation code
4. Login to your account
5. Visit trade screen
6. Send a deposit to
You are now one step away from being ready to trade bitcoin. All that is required is to send a deposit by following these instructions:
1. Click on ‘Deposit’ in the trading screen
2. Send bitcoin to your wallet address
If you do not know how to send bitcoin please contact your wallet provider for assistance.
Conclusion** ** You should now be in a position where you understand the basics of bitcoin, trading terminology and have an account on to begin trading.
In part 2 we will be covering fundamental analysis, the basics of technical analysis and how to make your first trade. Like us on Facebook or follow us on Twitter for future updates.
If you have not yet signed up for an account on click here. The registration process takes just two minutes and does not require any identity verification documents
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How to Trade Bitcoin Part 4: Advanced Technical Analysis

What You Should Already Know
Before learning the advanced indicators covered in this article, you should be familiar with the basics of trading that have already been covered in our how to trade bitcoin series.
Part 1: Getting Ready to Trade Bitcoin
The first part covered the basics of Bitcoin, trading terminology and how exchanges work.
Part 2: Making Your First Trade
The second part covered how to read charts, how to spot trends using moving averages and the MACD, and lastly how to place a trade.
Part 3: Beginner’s Technical Analysis
The third part introduced the benefits and limitations of technical analysis, and then common price patterns.
It is recommended that you are familiar with these topics, particularly beginner’s technical analysis, before learning more advanced technical indicators.
Key Terms Explained
Ichimoku Cloud — an indicator that is used for identifying support, resistance and momentum. There are four key components to the Ichimoku cloud: Kijun Sen (blue line), Tenkan Sen (red line), Chikou Span (green line) and the Senkou Span (clouds). The purposes of these lines will be covered shortly.
These lines are annotated on the chart below.
Relative Strength Index (RSI) — you will be happy to hear that the RSI is a much simpler indicator. The RSI identifies over-bought or over-sold conditions. It can also be used to identify the current market trend. An application of the RSI can be seen below.
Bollinger Bands — this indicator is used to gauge market volatility and support or resistance levels. Tighter bands mean flatter markets, while looser bands signal more volatile markets. As the price tends to gravitate towards the middle of the two bands, Bollinger Bands can also indicate support and resistance levels. This can be seen below.
Parabolic Stop and Reversal (SAR) — another simple indicator, the Parabolic SAR is used to identify the start and end of market trends. This is indicated by small dots; dots above the candlesticks shows a down trend, and dots below the candlesticks shows an up trend.
How to Trade Technical Indicators
Ichimoku Cloud
It is important not to be overwhelmed with the amount of information provided by the Ichimoku Cloud. Let’s examine each component part individually to become more familiar with how the indicator works.
The ‘Span’ indicators are slightly more long-term components of the Ichimoku Cloud. They are useful for monitoring wider market trends.
Senkou Span (Clouds) — this simplest part of the indicator shows current and future support and resistance levels. When the price is below the cloud, the lower and upper edges of the cloud both act as resistance. When the price is above the cloud, the upper and lower edges act as support.
Chikou Span (Green Line) — this line follows the current price, but is plotted 26 candlesticks behind. This makes it a lagging indicator of market trends. When this lagging line rises above the candlesticks, this is an indication of an uptrend. Conversely, when this line falls below the candlesticks, it is indicative of a downtrend.
The ‘Sen’ indicators are more for current and near-future price trends.
Tenkan Sen (Red Line) — this line shows the current market trend. As you would expect: a rising line indicates an uptrend, a falling line indicates a downtrend and a flat line indicates a flat market.
Kijun Sen (Blue Line) — this is arguably the most important line because it indicates the next direction the price is likely to move in. If the price rises above the line, the price is likely to continue to rise. On the other hand, if the price falls below the line, the price is likely to continue to fall.
All of these ‘mini-indicators’ have their own unique trading strategies, which will now be explained.
Senkou Span (Clouds)
The main Senkou Span (Clouds) trading strategies are support/resistance levels and crossovers.
Firstly, we will look at support and resistance strategies. Like traditional support and resistance lines, trades can be executed when the price ‘bounces-off’ the cloud or ‘pierces’ the cloud. This is demonstrated on the chart below — opportunities to go short have been highlighted by the yellow circles.
The Senkou Span (clouds) are telling us that there have been several opportunities to go short on bitcoin.
The first yellow circle represents an opportunity to go short after the price fell through the Senkou Span (clouds). This suggests that support at $282 has been broken and further price declines can be expected.
The second and third yellow circles show opportunities to go short when the price fails to break through the clouds, which is acting as resistance. This tells us that the downtrend is still strong and the market is not ready for a trend reversal.
Now let’s look at trading crossovers. Similar to moving average crossovers, the clouds can change their sentiment based on price behaviour. These crossovers are identified on the chart below.
The first yellow circle highlights a bearish crossover — the red edge of the cloud has risen above the green edge of the cloud. Therefore a trader should go short at the time of this crossover.
The second yellow circle highlights a bullish crossover — the green edge of the cloud has risen above the red edge. Although this should be a indication to buy, a trader doing so would have lost money. It is important to recognise that technical analysis indicators will never be right 100% of the time.
Lastly, the third yellow circle shows another successful opportunity to go short during a bearish crossover. Given the following drop to $260, this was a great opportunity to place a highly profitable trade.
Chikou Span (Green Line)
The Chikou Span (green line) is known as a lagging indicator. This is because the line is plotted 26 periods behind the current price. Traders can spot both bullish and bearish signals from the Chikou Span (green line).
A bullish crossover occurs when the Chikou Span (green line) rises above the candlesticks. An example of this is the yellow circles on the chart below. The left yellow circle indicates the moment the Chikou Span (green line) moves above the candlesticks; the right yellow circle indicates the point at which a trader would buy.
The orange, blue and pink circles show bearish crossovers and the respective positions at which traders would sell.
If we focus on the pink circles, we can see that the Chikou Span (green line), sharply fell below the candlesticks. The pink circle on the right shows the point at which this happened in real-time (26 candlesticks in front of the Chikou Span). Evidently, selling at this point would have been a profitable trade.
Kijun Sen (Blue Line)
Kijun Sen (blue line) will occasionally crossover the candlesticks. These crossovers can be traded in a similar fashion to Senkou Span (clouds) crossovers or moving average crossovers.
The above chart depicts both bullish and bearish crossovers. Traders should aim to place trades at the same time as the crossover.
A bullish crossover is where the candlesticks rise above the Kijun Sen (blue line). This means that a trader should buy in this situation.
A bearish crossover is where the candlesticks fall below the Kijun Sen (blue line). This means that a trader should sell in this situation.
The Senkou Span (clouds) can also provide additional insight to traders using Kijun Sen (blue line) crossovers. Above the Senkou Span (clouds), bullish crossovers become stronger buy signals, and bearish crossovers become weaker sell signals.
Conversely, below the Senkou Span (clouds), bullish crossovers become weaker buy signals, and bearish crossovers become stronger sell signals.
Relative Strength Index
In stark contrast to the Ichimoku Cloud, the RSI uses just 1 line for trading signals. This line is plotted below the price chart on a scale of 0–100.
As the chart above demonstrates, the RSI can provide traders the following signals:
Overbought — when the RSI is above 70, the price is likely to have a sharp downwards correction.
Uptrend — when the RSI is above 50, the price is considered to be in an uptrend. Traders could go profit from either buying or selling depending on other indicators.
Downtrend— when the RSI is below 50, the price is considered to be in a downtrend. Traders could go profit from either buying or selling depending on other indicators.
Oversold— when the RSI is below 30, the price is likely to have a sharp upwards correction.
The two most important signals for traders are the overbought and oversold indicators. Instead of simply selling at overbought and buying at oversold, traders should aim to profit from reverals.
Bullish Reversal — this occurs when the price moves from an RSI of under 30 to above 30. This is indicative of the end of a downtrend and the start of a new uptrend. Hence traders should aim to buy at this point.
Bearish Reversal — this occurs when the price moves from an RSI of above 70 to under 70. This is indicative of the end of an uptrend and the start of a new downtrend. Hence traders should aim to sell at this point.
Bollinger Bands
Bollinger Bands indicate market volatility and support or resistance levels. The indicator overlays two bands above and below the candlesticks, with an average line in the middle.
There are two main ways to trade Bollinger Bands: support /resistance levels and squeezes.
Bollinger Bands: Support and Resistance
Similar to traditional support and resistance patterns, the lower part of the Bollinger Band can act as support, and the upper part of the Bollinger Band can act as resistance.
The above chart demonstrates how a trader should trade the support and resistance levels provided by Bollinger Bands. Simply, they should buy at the lower support and sell at the higher resistance. This strategies works best when the Bollinger Bands are tight — the chances of a breakout are lower.
Bollinger Bands: Squeezes
A squeeze occurs when the upper and lower bands tighten — they ‘squeeze’ the candlesticks. This tells a trader that a large movement is incoming. The large movement is typically known as a ‘breakout’, where the candlesticks briefly escape the bands.
On the chart below, the first squeeze and breakout is an example of a typical price pattern. The subsequent price patterns are closer to mini-squeezes and breakouts.
A trader should aim to trade during the first breakout after a Bollinger Band squeeze. This can be identified by the first candlestick the escapes the Bollinger Bands.
If this a breakout above resistance, a trader should buy with the intention to sell when the rally continues.
If this breakout is below support, a trader should sell with the intention to buy when the drop continues.
Parabolic SAR
This last indicator is used to identify the start and end of a market trend. The Parabolic SAR is the series of dots above and below the candlesticks. Dots above the candlestick indicate a downtrend; dots below the candlestick indicate an uptrend.
Unlike the previous indicators, which have focused on when to open positions, the Parabolic SAR is most useful for timing the closing of positions. Specifically, three consecutive dots indicate a trend has reversed and a profitable position should now be closed.
This makes the Parabolic SAR a great indicator to use in conjunction with the other indicators outlined in this article. Let’s look at a practical example.
Here a trader has gone short after seeing a bearish crossover on the RSI (movement from over 70 to under 70). The trader then profits from a substaintial price fall. However, as the price begins to drift upwards once again the trader is unsure whether or not the downtrend will continue.
By checking the Parabolic SAR, 3 support dots can be seen. This verifies that the downtrend has indeed ended and the short position should be closed.
How to Apply Technical Indicators at
1) Open up the trade screen and click the graph icon on the price chart
2) Choose your preferred technical indicator from the list
3) Begin studying chart patterns!
You should now be familiar with trading based on Ichimoku Clouds, RSI, Bollinger Bands and the Parabolic SAR. If you have followed this ‘How to Trade Bitcoin’ guide from the start, you should now be a budding trader capable of making profitable trades based on logical analysis.
If you want to receive more trading tips, make sure to follow us on Twitter and like us on Facebook.
If you want to use the power of leverage / margin trading to increase your potential returns, check out We offer up to 10x leverage and direct market access to Bitfinex, Bitstamp and itBit.
Alternatively, if you prefer more passive investments, check out Magnr. We provide interest-bearing investment accounts for bitcoin, with a promotional interest rate of 2.18% AER.
Written by Joe Lee, / Magnr CEO. Joe first discovered Bitcoin in 2011 and built his own trading bots turning an initial $100 investment into $200k. He then turned his attention to building trading infrastructure and was born. After gaining rapid traction, Joe left his investment banking job to focus on
submitted by Magnr to BitcoinMarkets [link] [comments]

[v3.1.0][Open Source][Python3] Avarice - Trading Bot/Infrastructure Update Released

Hey /BitcoinMarkets!
Site and Github Project
Last I posted, a new release of Avarice was in testing. I also mentioned the project goals, and some project plans in a comment. Recently, v3 went stable with some of those plans completed, and many fixes/improvements included. A big thanks goes out to users who have tested and supported the project allowing it to come this far.
Avarice was created to make simple multi-indicator trade strategy creation more accessible; all while having full control over your API keys. I believe the v3.y releases have aided tremendously toward this goal with some of the more notable changes:
There were also quite a few less notable and interesting changes:
I'm sure many users reading this are wondering "Why is this awesome project only on that one exchange I've read is untrustworthy, steals my infinite profits, and is responsible for Bitcoin not tossing back brews with the man on the moon?" If you were thinking those exact words, know a bit of python, and are willing to read a bit of documentation, you may easily contribute to the project! I've attempted to make adding exchange support simple. See the Contributing page for details on how!
Thank you again /BitcoinMarkets for your support!
Edit: It's worth noting that I used Wilder's MA method (aptly named WMA in Avarice) for DMI/ADX/ATChandelier Exit. Some sites use EMA, some use SMA, and I believe these affect the indicator's purpose and may add new signals especially in such a volatile market.
submitted by lJohnGaltDev to BitcoinMarkets [link] [comments]

[Any , Alpha] INITCOIN Charts

INITCOIN Charts - Tool in developing process.
An easy tool to analyze the Bitcoin and other crypto currencies value (cost).
Our intention is to offer a professional and easy service in order to optimize your tactics (strategies) on cryptocurrency markets.
Aimed to beginner traders as much as the experienced ones.
Current specifications •+85 Technical (Indicators, Linear regression .. and all the power)
•Multi-platform website platform and Mobile Charts
•Save your layouts (technical indicators, drawing tools ..)
•More than 20 Drawing tools
•11 Chart types: Renko, Line Break, Point and figure... on any time frame!
•Full customizable styles
•Real time chart and market data
.. Working on more!

Free access:

Do you need a better tool? We are open to any upgrade or suggestion here:
Thanks all for your contribution.
And here we come with some new upgrades to our INITCOIN (alpha testing) !

Changelog v0.2

New technical Indicators:
-Ichimoku Cloud, Volume by Price (Soon with more options there), Volume Overlay, Colored Volume Overlay, Colored MACD Histogram .. and more happines!
Drawing Tools:
-Fibonacci Extensions, Fibonacci Timezones, Polygon, Polyline, Trend Channel, Pitchfork, Error Channel, Raff Regression, Quadrant Lines, Tirone Levels, Speed Lines, Gann Fan, Measure Tool
Theme options:
*Be able to customize candle border color, Price line from last value to value axis. *Now you can save/load technical indicator templates (drawing tools coming soon) in the current session.
New feature:
*Click with right button into the drawing tools to see a context menu with 3 options, Settings, Clone or Delete OR simply we have built the shortcut CTRL+C / CTRL+V to copy/paste drawing tools.
*Fullscreen mode instead of full window mode. Now you can use it to take all space available on your screen for the chart.
*Now you can move chart series on any direction around the chart.
*CSV Import DATA- experimental: You can download tick data from any market from sources like and load into the chart module. You can select between building a tick data chart or transform it into candlestick (minute or daily). (NOTE: We are improving this function capability. You will load files with date-ohlc-volume formats from any site and any market as well) soon!
Remember to feedback us a bit :)
submitted by InitcoiN to alphaandbetausers [link] [comments]

[UPDATE!][Open Source] Avarice Automated OKCoin Trading Infrastructure

Hello again BitcoinMarkets! Firstly, here's the Github Project. As always, the README is well maintained, and it will probably answer questions better than this post will. This is the third update regarding this project. Here are the previous two posts:
There have been a plethora of new features, improvements, cleanups, and fixes since the last posts.
For any of the following changes, you may also look at the commit logs on Github. Without further ado, here are some recent changes with small bits of info accompanying:
(Yet) Again, this is only as powerful as your configuration. However, I've attempted to create a strong base for community involvement; one that can additionally be easy to understand and configure for even the most common of trader. Also worth noting that quite often, even the simplest strategies can be profitable.
If you have a suggestion, please don't hesitate to post no matter your ability to contribute. I will not complain about "too much" community involvement.
Regards, John Galt
EDIT: Just merged loggerdb branch and fixed scheduling issue with resuming. What does this mean for you? WE NOW SUPPORT RESUMPTION :) . So if you have 30m candlesizes and MACD with defaults, quit immediately after a candle for a computer reboot, the reboot takes 12 minutes, then the software handles the database, then resumes running in 18 minutes (and will let you know that) :) This ultimately would save you that 13hours of getting enough data to act on again.
submitted by lJohnGaltDev to BitcoinMarkets [link] [comments]

[project]Open source Avarice automated OKCoin trading infrastructure

Hello CryptoDev! Firstly, here's the Github Project. As always, the README is well maintained, and it will probably answer questions better than this post will. This is the third update regarding this project.
There have been two prior (non cryptodev) posts about this. The first post includes basic info and background on what made me decide to start this project. The second includes some additional updates.
There have been a plethora of new features, improvements, cleanups, and fixes since the last posts.
For any of the following changes, you may also look at the commit logs on Github. Without further ado, here are some recent changes with small bits of info accompanying:
(Yet) Again, this is only as powerful as your configuration. However, I've attempted to create a strong base for community involvement; one that can additionally be easy to understand and configure for even the most common of trader. Also worth noting that quite often, even the simplest strategies can be profitable.
If you have a suggestion, please don't hesitate to post no matter your ability to contribute. I will not complain about "too much" community involvement.
EDIT: Just merged loggerdb branch and fixed scheduling issue with resuming. What does this mean for you? We now support resumption! . So if you have 30m candlesizes and MACD with defaults, quit immediately after a candle for a computer reboot, the reboot takes 12 minutes, then the software handles the database, then resumes running in 18 minutes (and will let you know that) :) This ultimately would save you that 13hours of getting enough data to act on again.
Regards, John Galt
submitted by lJohnGaltDev to cryptodev [link] [comments]

THE ICHIMOKU CLOUD WILL PREDICT WHEN BTC MOONS - How To ... 3-9-2018 - New stock for trading as per ICHIMOKU strategy Ichimoku Forex Trading robot MT4 Ichimoku Cloud Indicator (Beginner) - YouTube Crypto Currencies update, Bitcoin and Ether. Ichimoku trading strategies

Step #1 Wait for the Price to Break and close above the Ichimoku Cloud Ichimoku cloud trading requires for the price to trade above the Cloud because that’s a bullish signal and potentially the beginning of a new up-trend. The cloud is built to highlight support and resistance levels and it’s supposed to highlight several layers deep because support and resistance are not a single line ... Bitcoin Ichimoku Analysis. Bitcoin Ichimoku cloud Analysis indicates mixed signals across different time frames in terms of BTC price prediction. On one hand, on the daily chart, the BTC/USD pair has crossed below the Ichimoku cloud and testing to break below the 61% Fibonacci retracement level of 7,362. A break below this level could open ... Die Ichimoku-Wolke umfasst fünf verschiedene Indikatoren und soll einen Einblick in die Entwicklung des Marktes geben. Die Ichimoku-Wolke mag auf den ersten Blick einschüchternd wirken und das Diagramm einem abstrakten Kunstwerk ähneln lassen, aber sie ist relativ einfach, wenn man sich einmal mit ihrer Interpretation vertraut gemacht hat. Renko Ichimoku Strategy. Bitcoin / U.S. Dollar (BITFINEX:BTCUSD) ookla1977 BITFINEX:BTCUSD Bitcoin / U.S. Dollar. Trend Analysis. 468 views. 5. 0. trendanalysis. Long signal: block above tenkan and above kumo. Close on first red below tenkan. Short signal: block below tenkan and below kumo. Close on first green above tenkan. Ichimoku settings for crypto. Comments. Post Comment. Community ... Diving into Renko because I love its simplicity and minimalism. This is an exploration of a potential strategy for COINBASE:BTCUSD using Renko and Ichimoku. I like imagining my charts as diving in and out of sea. When it's above water, go long. When it's below, short or stay away. RENKO set to Close, Traditional, and Brick Size 1/20th of current asset value.

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The Ichimoku Cloud is a trading technical indicator which you can use in cryptocurrency and in this beginner tutorial I will cover how to use the Ichimoku Cl... Fresh Bitcoin Rally, ... 38:35. The Modern Investor 19,460 views. New; 38:35. Ichimoku Strategy - Break It Down - Duration: 34:13. No Nonsense Forex 185,696 views. 34:13. WATCH THIS EVERYDAY AND ... In this video you shall see the stock that has appeared in our Ichimoku indicator scan. We have discussed the entry point, initial stop loss, entry conditions and exits. Update on bitcoin and ethereum, where to from here? Both breakouts have been with vigour, my bullish sentiment remains. Ichimoku trading strategies. Invest and trade with Kite by Zerodha, Get assured Services free from us. Open an account now !!! How to become a P...