THE NAIVE TRADER

BTC has been fluttering around this $6500 range which has become increasingly frustrating to be honest. There have been a few issues causing this, such as the ETF bullshit, causing insane levels of volatility. For example today we saw a candle with $7000 hit before quickly falling back to the $6500 region. Just from reading others opinions online people still seem bearish with potential movement down below $6000 seeming realistic from numerous respectable sources in my opinion. Thus my entries into alt's are being held off for the moment even though I really should do my own research. Anyway, this is where we look like a breakout might happen, lol jk who really knows. As stated above this stupid fucking $6000-$6500 range has creating chaos, with leverage traders on Bitmex getting wrecked on their x100 levels lol. But this is not the point of why I am writing this, I want to explain some of my interests and why I have the audacity to talk about it. Currently I am watching two...

Eventually, I am back, been away for just under a month so haven't really had the time to produce any updates on the markets I have been watching. I thought I would do a quick update on my opinion on the USD/JPY market and where I believe the direction could be. At the moment it seems for August we have seen some consolidation within the market, holding within what seems to be a tight boundary in the 110 region. As of now looking at the Bollinger Band positioning it looks as though we might bounce off the resistance level around the 110.272, but as always this is just a guesstimate based on where resistance seems to have been holding for the last few weeks. But further to this point, the BB does show the candles touching the bottom of the BB area with a negative candle still in play, thus making it look as though we will have at least another downward movement ( probably small) before any further upward gains. The RSI shows neither top or bottom regions touched and thus a d...