This is my first Bitcoin idea, and I recommend sell short this castle of sand without pillars and foundation.
And I do not need to draw a lot of lines, place a lot of Indicators with a lot of capital letters in an attempt for impress the reader with my knowledge
This is something very simple
¿What is making the price now?
¿The Price is making Higher Highs and Higher Lows now? No
Do not argue with the price and do not make immature predictions for the next 8 Years
The future can not be written with Fibonacci projections
You only need to identify what is making the price now and act in accordance with what is happening now.
What is the price action Now?
Look the major support line that I drawed for expressed my idea, What happened with this line?
This line was broken by a big red candle the past week, wait for a price consolidation or pullback around 4400 or 4500 and use the center of the big red candle (dotted line)
as reference point for resistance around 4400 or 4500 then sell something for accumulate short positions (Not use more than 5% of your Capital in this stage)
For example the next weeks the price go up around 4400 and you sell short some Bitcoins (Use 4% of your capital) If the price drops to 4200 then sell short more Bitcoins
(you are adding to your position as the price falls, but after having gone up to 4400)
and if the price drops below 4100 4000 and 3900 add more because the price gave you the reason
This take patience an this is for a Swing traders or Position Traders
Technical Concept: Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)
And I do not need to draw a lot of lines, place a lot of Indicators with a lot of capital letters in an attempt for impress the reader with my knowledge
This is something very simple
¿What is making the price now?
¿The Price is making Higher Highs and Higher Lows now? No
Do not argue with the price and do not make immature predictions for the next 8 Years
The future can not be written with Fibonacci projections
You only need to identify what is making the price now and act in accordance with what is happening now.
What is the price action Now?
Look the major support line that I drawed for expressed my idea, What happened with this line?
This line was broken by a big red candle the past week, wait for a price consolidation or pullback around 4400 or 4500 and use the center of the big red candle (dotted line)
as reference point for resistance around 4400 or 4500 then sell something for accumulate short positions (Not use more than 5% of your Capital in this stage)
For example the next weeks the price go up around 4400 and you sell short some Bitcoins (Use 4% of your capital) If the price drops to 4200 then sell short more Bitcoins
(you are adding to your position as the price falls, but after having gone up to 4400)
and if the price drops below 4100 4000 and 3900 add more because the price gave you the reason
This take patience an this is for a Swing traders or Position Traders
Technical Concept: Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)