My average entry is lower, so I'm holding a risk free trade, with a profit if stopped out.
Target is 6555 at least, the retest of the Black Market Reloaded closing key level, or the weekly 'Time at mode' target at 7047.01. This could evolve into a longer term bimonthly uptrend as well, which is currently active, and implying way higher prices, so I will simply hold my position for as long as possible, only closing half of it at my weekly target zone, and trading around the core 15% long term long position from here onwards.
You can see how the key levels and the 'Time at mode' analysis have been useful in trading this market, and predicting the turns, where to enter, where to add, where to place stops, etc.
Review my previous publications for more information.
This implies we have good odds of uptrend continuation.
After this week's close, if we get a dip, we can add to longs. For now, simply be patient and let it run.
Additionally, we can buy dips in smaller timeframes, but from an investing stand point, we have to hold our 30% stake and wait.
Key level to take out: 5011
We need to see first a daily LOW sit above 5011, on close. Then, a weekly close above it, this week, and next week, a weekly LOW, on close, above this same historical level.
Once this happens, you can relax and wait for 6555-7047.
I'll be looking to add some short term longs on the way up, without touching the core 30% account long trade I have established gradually.
We now have to wait for 1 week to stay above that to fully confirm more upside but it looks like we're in great shape.
You can add to longs here, stop is 4805.26
We must trade above 5178.87 soon to remain bullish in the short term.
There are specific rules to determine this and get actionable signals of course, not that simple.
Now, the largest timeframe signal that is active is a 2-month timeframe signal, as far as I recall. I think I posted it in one of my charts, review my related ideas here and the comments and updates.
The target was considerable, but still within the realm of the possible and logical in the long term.
Hold for now, follow the trading plan.
Best of luck Ahmed.
I've a question please, why do you think the reason is behind the stoppage of the rally and going sideways for few days now ?
Thank you again Ivan :)
I'm confident in the BTC uptrend though, so I'll just hold.
My entries are good.
We can look to buy when it drops, and sell partially on rallies, but don't let go of your 15-30% stake, spot, coins you own, with no leverage...off exchange isn't a bad idea too.