BITCOIN DISTRICT - OUR STRATEGY (UPDATED WEEKLY)
WELCOME TO OUR VERY FIRST T.A. PUBLIC ANALYSIS!
LEGEND
- BLACK LINES are bull and bear Fibonacci Channels = when at least 3 candles/12hours have crossed one of the lines, we usually want to consider taking a position.
- GREEN rectangles are BUY/LONG entry zones
- RED rectangles are SELL/SHORT entry zones
- TP = Take Profit = Short term TARGET
- ORANGE LINES are the 68.1 Fibonacci channels wich are for us, the most important lines to watch for trend/momentum reversals
- RED LINES are the critical support/resistance lines
SHORT TERM STRATEGY
FOLLOW our drawings, take your positions according to the buy/sell entry zones and take your profits quickly when the target is reached. (TP)
Unless you're not from this planet, nobody can predict where the price is gonna go, take profits when you can and don't try to hit homeruns.
Our drawings are based on probabilities, trading daily/weekly is a matter of managing your risk, your emotions and sticking to your strategies.
LONG TERM STRATEGY
We strongly believe that
BTCUSD
is a strong long term buy under 9,000$.
We also believe that It is the safest cryptocurrency to hold for the long term.
That can be explained by many reasons wich we are not going to talk about here.
Visit our under construction website for more details : www.bitcoindistrict.net
OUR GOLDEN RULES
- DISCIPLINE and PATIENCE are key to be successful
- STICK to your plan/strategy
- SMALL positions at ALL times (5% max of your net equity)
- BIG POSITIONS = BAD DECISIONS
- Book/secure consistent profits, don't cap profit potential! 1% weekly profit compounded will make you filthy rich!
- PATIENCE with losing trades, eventually most of them become profits.
- Learn to manage your emotions, don't FOMO (Fear Of Missing Out)
- LONG TERM : "Buy when people sell, sell when people buy"
- BUY THE F****** DIP
FACTS TO ALWAYS KEEP IN MIND
- Trading is HARD. Most traders never manage to be consistently profitable.
- Greed is your enemy.
- A good trader is a good RISK manager.
- The more leverage you use, the more certain you will fail.
- If you can’t sleep at night, your positions are too big.
- You don’t need to have positions open at all times.
- A good strategy is NOT the most important part of your success. DISCIPLINE and PATIENCE come first.
Hope you enjoy our analysis, leave a comment, share and give us a follow to always stay tuned!!
Bitcoin-District
www.bitcoindistrict.net
LEGEND
- BLACK LINES are bull and bear Fibonacci Channels = when at least 3 candles/12hours have crossed one of the lines, we usually want to consider taking a position.
- GREEN rectangles are BUY/LONG entry zones
- RED rectangles are SELL/SHORT entry zones
- TP = Take Profit = Short term TARGET
- ORANGE LINES are the 68.1 Fibonacci channels wich are for us, the most important lines to watch for trend/momentum reversals
- RED LINES are the critical support/resistance lines
SHORT TERM STRATEGY
FOLLOW our drawings, take your positions according to the buy/sell entry zones and take your profits quickly when the target is reached. (TP)
Unless you're not from this planet, nobody can predict where the price is gonna go, take profits when you can and don't try to hit homeruns.
Our drawings are based on probabilities, trading daily/weekly is a matter of managing your risk, your emotions and sticking to your strategies.
LONG TERM STRATEGY
We strongly believe that
BTCUSD
is a strong long term buy under 9,000$. We also believe that It is the safest cryptocurrency to hold for the long term.
That can be explained by many reasons wich we are not going to talk about here.
Visit our under construction website for more details : www.bitcoindistrict.net
OUR GOLDEN RULES
- DISCIPLINE and PATIENCE are key to be successful
- STICK to your plan/strategy
- SMALL positions at ALL times (5% max of your net equity)
- BIG POSITIONS = BAD DECISIONS
- Book/secure consistent profits, don't cap profit potential! 1% weekly profit compounded will make you filthy rich!
- PATIENCE with losing trades, eventually most of them become profits.
- Learn to manage your emotions, don't FOMO (Fear Of Missing Out)
- LONG TERM : "Buy when people sell, sell when people buy"
- BUY THE F****** DIP
FACTS TO ALWAYS KEEP IN MIND
- Trading is HARD. Most traders never manage to be consistently profitable.
- Greed is your enemy.
- A good trader is a good RISK manager.
- The more leverage you use, the more certain you will fail.
- If you can’t sleep at night, your positions are too big.
- You don’t need to have positions open at all times.
- A good strategy is NOT the most important part of your success. DISCIPLINE and PATIENCE come first.
Hope you enjoy our analysis, leave a comment, share and give us a follow to always stay tuned!!
Bitcoin-District
www.bitcoindistrict.net
Trade closed: target reached:
We published this idea on the 24th of June and here is the breakdown of what you should of have done in the last 10 days following this strategy!
MAY 26 : Price crossed the 78.1 fibonnacci bear channel and entered a SELL/SHORT zone at 7,450$. We took a SHORT position. Target was 6,8K wich didnt quiet get there but we were able to grab very descent profits at 7,000$ 3 days later wich gave us just about 6% PROFITS.
JUNE 1 : Bulls showed a bit of strenght when price came back to 7,500$, crossed the first bull channel and entered a BUY/LONG zone. Target was 7,700$ wich got reached the following day. PROFITS of 2.6%.
TOTAL GAINS : 8,6% while the price is at the same level as 10 days ago! ;)
Right now is a no trading zone for us... We need to wait and see if the prices reaches the next BUY or SHORT zone.
This is it for our first public T.A., feel free to share and give us a follow to always stay tuned!
Cheers,
Bitcoin District
MAY 26 : Price crossed the 78.1 fibonnacci bear channel and entered a SELL/SHORT zone at 7,450$. We took a SHORT position. Target was 6,8K wich didnt quiet get there but we were able to grab very descent profits at 7,000$ 3 days later wich gave us just about 6% PROFITS.
JUNE 1 : Bulls showed a bit of strenght when price came back to 7,500$, crossed the first bull channel and entered a BUY/LONG zone. Target was 7,700$ wich got reached the following day. PROFITS of 2.6%.
TOTAL GAINS : 8,6% while the price is at the same level as 10 days ago! ;)
Right now is a no trading zone for us... We need to wait and see if the prices reaches the next BUY or SHORT zone.
This is it for our first public T.A., feel free to share and give us a follow to always stay tuned!
Cheers,
Bitcoin District
