Sources such as Forbes suggest that Bitcoin may well be one of the last currencies standing in the years to come. This is as a result of there being concerns over whether or not alternatives will be outlawed. There is still very much a grey area with some elements of cryptocurrency which, in the years to come, will hopefully be given more clarity.
The technical indicators within the market are currently showing favour toward the bears within the market at this moment in time. The RSI is trading marginally below the 50 handle indicating that the bears are still in control of the momentum within the market. If the RSI can break up above the 50 handle we can expect this market to break up above the upper boundary of the trading range.
Depending on a particular forex broker, they can either offer you CFDs or underlying assets. For example, Forex.com allows you to exchange Bitcoin for euro, dollar or Australian dollar; eToro gives you a much wider range of altcoins, such as Ethereum, Bitcoin Cash, XRP, etc. Roboforex offers you to trade contracts for difference (CFDs) on 26 cryptocurrencies, such as EOS, XRP and, of course, BTC.
Price Reversal Trading - Buy Dips and Sell Rips If learned and applied correctly a reversal Forex trading strategy provides very low risk and high reward. The price reversal is the cornerstone of all trade set-ups including breakout and trend trading. A price reversal is an unnatural trade set-up for many due to its entry at price weakness whether long or short. There is substantial evidence that the prevailing behavior is to enter long positions, or to purchase, near a price peak. This tendency has been documented for at least a few hundred years. Dutch Tulip Bulb trading during the 1600’s is often sited as an early example of this exuberance and resulting price over-extension. Exuberance and price over-extension transform into liquidation selling. Just as those strong emotions of a sure profit belief that flocked many to purchase; the sell-off that follows has strong emotions of fear from the painful loss as price drops. The Reversal is nothing more than taking advantage of this natural behavior of price expansion and price contraction. It is what trading is all about.