IvanLabrie
Long

BTCCNY: Accumulation setup update

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
We went long during this sideways accumulation, and now it's clear the time at mode setup here is active. We can expect a rally to the target on chart. Be patient and hold long positions.

See related ideas for my buy reccomendations.

Cheers,

Ivan Labrie.
Comment: Now 4033...I hope no one shorted.
Comment: Good progress, we're safe to hold longs.
Comment: BTC needs to go past 4360 by or before September 15th. if it doesn't it might be forming a triangle, which would imply there is no strong momentum for an uptrend to materialize.
Trade closed manually: We closed longs on the break of support at 3961 and instantly flipped short, with stop at 4210.
Trade active: I'm long once more - 4059
Comment: Price now 4107
Comment: In good shape to hit the target.
Trade closed manually: We keep a 15% long in BTC.
Waiting for some pull back 37usd pump it should go back to 4000 cny at least.
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Just set some arbitrary size, say 50 cny to buy on dips. Sell half on 50 cny rallies. Or some other rule for retracements to buy dips, and to exit.
I have a few rules like that from my trading strategy.

Right now the trend has been confirmed, as per the time at mode methodology, and I have a time and price target for it. So, I have to maneuver it safely. One core position will be held all the way up, and with part of the funds I'll play the retracement, buying dips mostly.

Good luck!
Reply
Galvin IvanLabrie
4000 cny is an important level. imo
Reply
I see that target doable, 30 days consolidation, this is going to 700 for sure.
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