Hello friends,
Just wanted to update you guys on my view. I am bullish on bitcoin. I have drawn my target to be about $6,000.
Seems crazy now, but we will see. This is just the technical target I have, I have no idea if it will get hit or not. I am long because there is low risk and high reward. My stop loss is going to be around my entry which is around $3750 on average. If you follow me on Twitter, you'll know I went long at $4,000 and then more an $3,500.
I just want to say that 1) the NVT is looking reasonable again (charts.woobull.com/bitcoin-nvt-signal/) 2) google trends is showing bitcoin search volume rallying 3) we are extremely oversold by BB and RSI metrics. 4) we have a lot of shorts remaining.
All are reasons I am bullish, but this could easily turn around and take a dump at any moment. Be prepared for the worst! Someone asked me about a month ago in my discord group whether 3k was possible and I said yes. Welp, here we are folks. I had no idea it would happen, but we hit 3.4k. I hope the person did okay, but I don't know. Do not put yourself at risk trading. Do not try to make trading your main source of income. 94% of you will fail. This is a fact. 94% of you should be hodlers. Only the very, very studious, intelligent students of the market will ever make a dime trading.
My advice to EVERYONE who is not a professional trader is to make investments based off of fundamentals and good value principles and HODL. This will always be good enough to make money. The markets transfer money from the impatient to the patient. Only try your hand at trading once you have backtested a strategy that seems to work. Once you test it with real money, make sure your money management is in order. Have defined risk.
Good luck!
-YoungShkreli
Just wanted to update you guys on my view. I am bullish on bitcoin. I have drawn my target to be about $6,000.
Seems crazy now, but we will see. This is just the technical target I have, I have no idea if it will get hit or not. I am long because there is low risk and high reward. My stop loss is going to be around my entry which is around $3750 on average. If you follow me on Twitter, you'll know I went long at $4,000 and then more an $3,500.
I just want to say that 1) the NVT is looking reasonable again (charts.woobull.com/bitcoin-nvt-signal/) 2) google trends is showing bitcoin search volume rallying 3) we are extremely oversold by BB and RSI metrics. 4) we have a lot of shorts remaining.
All are reasons I am bullish, but this could easily turn around and take a dump at any moment. Be prepared for the worst! Someone asked me about a month ago in my discord group whether 3k was possible and I said yes. Welp, here we are folks. I had no idea it would happen, but we hit 3.4k. I hope the person did okay, but I don't know. Do not put yourself at risk trading. Do not try to make trading your main source of income. 94% of you will fail. This is a fact. 94% of you should be hodlers. Only the very, very studious, intelligent students of the market will ever make a dime trading.
My advice to EVERYONE who is not a professional trader is to make investments based off of fundamentals and good value principles and HODL. This will always be good enough to make money. The markets transfer money from the impatient to the patient. Only try your hand at trading once you have backtested a strategy that seems to work. Once you test it with real money, make sure your money management is in order. Have defined risk.
Good luck!
-YoungShkreli
Comment:
We are at support atm, if stop is hit, pnl is $0 for the trade.
Comment:
I'm not going to sell here even though it dropped a fair amount, but it doesn't look good. We will wait.
Comment:
I bought a little more at around 4,000 during the dip. Doesn't look good, but it's all about having low risk and high reward. My risk is near 0 - 0 if I want it to be - and my reward is close to $2000 per btc.
Comment:
Adding more longs on another dip to $3900, raising the stop loss however to the low, if hit, will be about breakeven for me. Lowest long is from $3500.
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Check twitter for more info.
Comment:
Stop hit.
Result: <1% loss.
Result: <1% loss.
Comment:
Remember, successful trading does not come by being right all the time - it comes from managing money well.
No, banks are not coming for your XRP, you have been bamboozled. The only way XRP becomes anything is if they develop a use case for it which does not exist today. Talking about this only because I'm not going to make a separate post.
Don't listen to dumbasses. Please. Look at the writing of the authors. If they can't construct intelligent sentences, it's very likely they are just not intelligent. I imagine successful traders on average have around a 130 IQ. Just a thought.