Yesterday we mapped out the possibly buy zones for a BTC bounce and a wave 5. For now BTC bounced perfectly in our first buy zone. My buys went through at 7833 USD.
A few things to look for here in both and bull situations.
My 5th wave take profit zone is $9000 with an extended test of $10,000.
We have already made a 45% gain in this trade after entering at $5800 at the beginning of the cycle. Very important to get a daily close above the green trend line to continue. Its testing that right now.
However, keeping things in perspective, we are still yet to reach higher lows. we are still in a lower highs and lower lows pattern and we failed that test a few days ago. Another fail could see the continuation downward in the long term cycle. REMEMBER just a few months ago it went to 10k and fell to $5800. So be careful. Use your stop losses at break even and move them up as they trade goes up. Nothing goes to the moon. Map your trades, set your buy and sell zones.
Take profit when its there. Nothing goes to the moon in one step and it also doesn't hit rock bottom in one step.
This is a very exciting time in BTC, however do not get carried away, its still deciding whether we are bull or bear. Play the trades that are presented in front of you now.
A few things to look for here in both and bull situations.
My 5th wave take profit zone is $9000 with an extended test of $10,000.
We have already made a 45% gain in this trade after entering at $5800 at the beginning of the cycle. Very important to get a daily close above the green trend line to continue. Its testing that right now.
However, keeping things in perspective, we are still yet to reach higher lows. we are still in a lower highs and lower lows pattern and we failed that test a few days ago. Another fail could see the continuation downward in the long term cycle. REMEMBER just a few months ago it went to 10k and fell to $5800. So be careful. Use your stop losses at break even and move them up as they trade goes up. Nothing goes to the moon. Map your trades, set your buy and sell zones.
Take profit when its there. Nothing goes to the moon in one step and it also doesn't hit rock bottom in one step.
This is a very exciting time in BTC, however do not get carried away, its still deciding whether we are bull or bear. Play the trades that are presented in front of you now.