{"id":20160,"date":"2024-09-12T12:27:32","date_gmt":"2024-09-12T20:27:32","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20160"},"modified":"2024-09-12T12:27:32","modified_gmt":"2024-09-12T20:27:32","slug":"unlocking-bitcoins-potential-trading-futures-for-profit-without-holding-bitcoin","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/unlocking-bitcoins-potential-trading-futures-for-profit-without-holding-bitcoin\/","title":{"rendered":"Unlocking Bitcoin’s Potential: Trading Futures for Profit Without Holding Bitcoin"},"content":{"rendered":"
Get Real Time updates and more by joining our Private Facebook Group<\/a>!<\/span><\/div>\n
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Listen to our Market Recap Podcasts on Apple Podcasts<\/a><\/div>\n
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Bitcoin Futures<\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

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Typically, if you\u2019re interested in Bitcoin<\/a>, it\u2019s for two reasons:<\/p>\n

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One is that you want to convert your dollars to Bitcoin so that you can buy products and services with it, because there\u2019s no administrator involved in the transaction like a bank or credit card company, or a PayPal or Zelle-type of entity.\u00a0 That\u2019s why it\u2019s called a decentralized currency: only the two sides of the transaction can see it.<\/p>\n

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But unlike a currency-backed transaction \u2013 like U.S. dollar transactions \u2013 Bitcoin transactions don’t come with legal protection and they\u2019re typically not reversible, which makes them susceptible to scams.\u00a0 And if or when you convert your Bitcoin back to U.S. dollars, you have to report capital gains and losses.<\/p>\n

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The fact is cash \u2013 and in particular the U.S. dollar \u2013 is still king.\u00a0 In the entire world, the dollar is currently involved in almost 60% of all transactions \u2013 in commerce, business and in trading.\u00a0 That\u2019s compared to the next most used currency, the Euro at \u00b113%.\u00a0 In third place is the Japanese yen at \u00b15%.\u00a0 All the other currencies in the world, including such notables as the Swiss Franc, British pound, Chinese yuan and to a miniscule degree Bitcoin \u2013 they\u2019re all little tiny slivers to the financial transaction pie.\u00a0 That\u2019s why people invest with U.S. dollars.<\/p>\n

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This brings me to the other reason people are interested in Bitcoin: it\u2019s an asset that moves up and down in price and that movement can be an opportunity to increase the value of your Bitcoin you hold.\u00a0 The unfortunate shortcoming for Bitcoin investors however, is that you\u2019re limited only to profiting from buying Bitcoin low and selling high \u2013 and converting your Bitcoin back to dollars to realize any profit.<\/p>\n

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There\u2019s a much better alternative to invest in Bitcoin.\u00a0 For people looking to profit from Bitcoin price movement: consider trading the price movement you see in Bitcoin every day, yet never have to actually be in Bitcoin, but rather a derivative of it.\u00a0 Trade an asset that moves in sync with Bitcoin, is valued and traded in U.S. dollars and is listed on the largest financial derivatives exchange in the world.<\/p>\n

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The exchange I\u2019m talking about is the CME Group, and the asset \u2013 there are actually three assets: the Bitcoin futures contract, the Micro Bitcoin futures contract and the newest Bitcoin Friday futures contract (sized at 1\/50 of a Bitcoin like the Micro Bitcoin and cash-settled every Friday).<\/p>\n

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These three assets trade on the CME where all participants see the same prices and quotes and you enjoy the price discovery of a transparent futures contract.\u00a0 Of course, as a futures contract you can trade on the long and short side of the market.<\/p>\n

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If you\u2019re a trader – in stocks, mutual funds, real estate, or other commodity futures such as stock indexes, precious metals, energies, grains, etc. and you\u2019re looking to diversify your assets into digital currency and Bitcoin specifically, look into Bitcoin futures and trade with assurance in the asset.<\/p>\n

Trade Micro Bitcoin with real-time price and DEMO money INSTANTLY<\/a><\/p>\n

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Daily Levels for September 13, 2024<\/h3>\n
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December Gold<\/p>\n

December gold has resumed its rally into new highs. This has the chart aim at\u00a0its third upside PriceCount objective to the 2620 area. It would be normal to get a near term reaction int the form of a consolidation or corrective trade, at least, upon satisfying the count. The low percentage fourth target to 3325 is not shown here for presentation purposes.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an \u2018exact\u2019 science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at\u00a0www.qtchartoftheday.com<\/a><\/p>\n

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Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Economic Reports<\/strong><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/div>\n
All times are Eastern Time ( New York)<\/div>\n
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Improve Your Trading Skills<\/h2>\n

Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a> at 1-800-454-9572.<\/p>\n

Explore trading methods.\u00a0Register Here<\/a><\/p>\n

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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own\u00a0judgement\u00a0in trading.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more by joining our Private Facebook Group! Subscribe to our\u00a0YouTube Channel Listen to our Market Recap Podcasts on Apple Podcasts       Bitcoin Futures By Mark O’Brien, Senior Broker   Typically, if you\u2019re interested in Bitcoin, it\u2019s for two reasons:   One is that you want to convert your […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20160","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=20160"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20160\/revisions"}],"predecessor-version":[{"id":20162,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20160\/revisions\/20162"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}