AlanSantana

🅱️ Bitcoin Bullish? What Now? How To Trade + Altcoins Update

AlanSantana Updated   
INDEX:BTCUSD   Bitcoin
The market moves based on cycles and within these cycles we have waves.

Bitcoin is in a bullish cycle and in this bullish cycle we are experiencing the fifth and last wave of a bullish impulse... What now?

The fifth wave is called the "speculative wave..." This is where everything can get out of control.
The market can keep on going for an extended period of time but the fifth wave is the last wave in a bullish impulse, which means that a correction is the next step.

Questions & Answers

  • What to look for?
  • When do we know the impulse is over?
  • How to trade?

We look for signals coming from the chart and we will use the weekly and monthly timeframes to gauge the market strength.

➖ What to look for?

Look for the weekly session close. If the weekly session close is really strong, it can signal that Bitcoin will continue growing for another week. If the weekly session closes weakly, it can signal the top is in.

➖ When do we know the impulse is over?

Once the monthly session closes. It will be 100% clear by that time.

My prediction is that February 2024 will end red/down but I can be wrong, the market will decide of course.
March 2024 also down/red.

➖ How to trade?

Two methods mainly on how to trade.

(1) Anticipating the move, we already did this and see how it went... We end up with big loses but that is one of the disadvantages of jumping in too early. We did not wait for confirmation and we pay the price.

(2) Wait for reversal signal. This is the more conservative approach and it can work great but also has its disadvantage. Waiting for confirmation will reduce liquidation risk but at the same time a big portion of the move can be missed.

Which one you choose, is completely up to you.

I am personally staying out since I already made a mistake... I will wait for confirmation this time around as I already paid the price of jumping in too early, you know what I mean...

Altcoins Update

All energy, money and attention is now moving towards the ALTSBTC.
These are bullish now and the best option for obvious reasons... You can grow your numbers of BTC.

If you have any questions about these or anything else related to the market leave a comment in the section below...

How are you feeling now?
Do you blame me for your current market situation or do you feel I did a good job?

Do you agree with my last update about Bitcoin's relation to the Altcoins market?
Do you belief Bitcoin will enter a correction soon or do you think it will move straight up?
New All-Time High next? Answer: Yes or no.

These are simple questions... I know there is euphoria, excitement, mania, greed and tons of different emotions involved, I can appreciate the situation but I would also appreciate if you take one minute of your time and share a comment with your market opinion and thoughts.

It would feel great if you send me some love.

Namaste.
Comment:
The weekly session closes tomorrow.

➖ Closing below 50,000 negative but not super negative.
➖ Closing below 48,300 strongly bearish and the top very likely to be in.

I will share an update tomorrow as soon as the weekly session ends and take into consideration all additional relevant signals related to this post.

If this is the top of a 448 days long bullish phase, the next correction will invariably be very strong.

I will be right here with you trying to catch the bottom and prepare for the massive bull-market that follows.

Thanks a lot for your continued support.

Remember to boost to receive a notification when the next update comes as the weekly session ends. When you boost the trade idea, it is automatically added to the list for you to get notifications.

Namaste.
Trade closed manually:
Here is the latest Bitcoin update.
Please track the other trade idea for updates.


I will update the monthly one as well as few days from now.
Feel free to leave a comment with your questions.

Namaste.

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