A flood of new users have joined crypto educator Trader Cobb’s community. He’s revealed the list of cryptocurrencies he wants to trade.
Trader Cobb tells Micky the crytpo education site has seen a flood of new users over the weekend, with a 330% increase in sign ups attributed to the Black Friday/Cyber Monday sale.
He said the Bitcoin price might be looking bearish right now but looks a lot better when you zoom out.
“It’s in a downtrend on the daily and the weekly so right now it’s more bearish than bullish, but to give you some perspective, from the year’s low to right now, it’s still up 119%,” he said.
“So even though there’s a short term downtrend, the year’s not been bad.”
He clarifies the year hasn’t been bad for active traders. For hodlers, it’s been a bit uninspiring.
What you should do when Bitcoin crashes
When Bitcoin is crashing, Cobb tends to go short on BitMEX or Bitfinex to make profitable trades.
“When Bitcoin goes down it tends to drag the rest of the market down and that’s when I tend to short. I focus on top ten, mainly Bitcoin, Ethereum and XRP as they are the highest volume,” he said.
He warns would-be traders that there are many other options and they should learn what they’re doing first before trying to use leverage and/or short on these platforms.
What you should do when Bitcoin’s trading sideways
And when Bitcoin is trading sideways, Cobb tends to look for opportunities with altcoins.
“I’ve got a pretty heavy watchlist at the moment,” he said. “The longer the big dog stays sideways, that’s when you start trading alts … when it’s not volatile the alts tend to perform well against bitcoin.”
What’s on the watchlist?
Right now he’s got his eye on half a dozen altcoin opportunities.
They include Matic, “It’s been doing beautifully well for most of the year, up 289%” and Fetch.ai, “It’s outperforming the big dog quite significantly.
With these two coins, along with Digitex Futures, Enigma and Ripio Credit Network, Cobb is waiting for the price to pull back into the 10- and 20-day moving average – which he calls ‘the cradle zone’. This provides one of the key signals for a buying opportunity.
“I’m always waiting for pull backs, I don’t like to buy when its running away or when there’s a lot of FOMO,” he said.
Cobb is also long on Tierion and he’s waiting for a breakout with Raven Coin.
“Right now it’s starting to consolidate around its lows for the yeas and starting to look more bullish. There’s an opportunity around 0.00000315 if it breaks out,” he said.
If you want to learn how to trade cryptocurrency profitably while managing risk, Trader Cobb’s Black Friday sale is on from today until Monday midnight GMT.
You can access the online trading courses and join a supportive online trading community for 40% off – the lowest price seen in 2019. Use coupon code: TAKE40
It's that time of year again and the Trader Cobb team are feeling generous! We are offering a whopping 40% discount on all courses, bundles, yearly subscriptions and yearly renewals for our current members!! #blackfridayhttps://t.co/nW06dv90gg
Enter code TAKE40 at the checkout! pic.twitter.com/OZzbopBVFi
— TraderCobb (@TraderCobb) November 27, 2019