Call me Preacher man because all I have been doing in preaching that BTC is going to 4k and it falls on deaf ears! WAIT A SECOND! Before you get mad or make a salty comment and get smacked down. Keep in mind a few things. 1. I want YOU TO MAKE MONEY. You might not believe it, but I do. i am not just putting in all this work just for giggles or to troll people. I DON'T SHILL ANYTHING. 2. I DON'T CARE if BTC goes to 4k. I have nothing to gain if it does! I trade it! 3. My post says I am long BUT I use a LADDERED/MARTINGALE STRATEGY THAT TAKES TIME!!! So before you make a mindless comment without reading my past analysis or assuming something. Read mine with a grain of salt and compare it to other people's post. THEN make up your decision with what you want to do. But remember that I am not here putting rockets on my posts getting your hopes up and trying to get you to buy something. I am just calling it like i see it.
I am going to spare a lot of the overarching themes as those have been detailed in the past post below and get straight to the point. In my mind, now that we are completing another bottom of this MASSIVE descending triangle, there are 2 distinct scenarios before we break these lows and I will outline them.
1. We bounce up from here. We either bounce all the way up to the triangle that is forming OR we bounce to the recent 7.1k area before resuming down. 2. We go straight down to 4k.
I have laid out the technicals before. Weekly MACD sloping DOWN, RSI not looking good, etc... Below is my previous post that lays it all out. It's not necessary that I lay it all out again, just click and read why
I will be using a laddered strategy and playing these bounces. Make sure you have your ladders set up properly, with buys in THIS AREA down to 4k with a last resort at 3k.Follow me, read up on the laddering/martingale strategy and lets make some money!
Happy Trading, -Sherem
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previous SPOT ON HEAD AND SHOULDERS CALL!! -
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where I lay out all of the reasons BTC could go to 4k -
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want to know how I ladder? I did an educational piece -
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I haven't said this for a while, but I hope my analysis is supporting your trading and decisions. Please let me know if it does and hit the like button to show it! Thank you!
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What's concerning right now is the lack of volatility. We came down then just leveled out without a rebound. Are we consolidating before a move up or just forming a bear flag. I have my first ladder here at 6610. What I am looking for is if this is a bear flag and moves down with a similar magnitude it might have another $300 push down before more of a bottom is forming. so I might adjust it to be just above $6500 which would ensure I get filled but at slight better pricing then 6600. Hard to say exactly with the lack of volatility right now.
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Not much to update here folks. We are still consolidating down here.
Trade active
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First Ladder trigger @ $6,521
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We are in positive territory but not by a lot at this point. I would imagine we will get more downside before a larger move up. Hard to say, but we have substantial ladders in place that run deep if we don't get a bounce up.
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We are getting some more volatility which is a good sign. We are at these previous lows or support turned resistance from before, so we could get more downward movement from here. We'll see what happens.
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If you missed the entry points now might be a good time to enter again -
I don't call you the preacher man. Preachers are selling stuff.
I call you the PROPHET!
The one who says what they have to say whether people want to hear it or not. You get crap like the old time prophets too when the message isn't happy happy joy joy moon moon moon. :-)
Keep it up man. I'm making money! Who cares what the ankle-biters spew.
Definitely helping me lose less money in this wild market and win more! Best of all no rocketships :)
Movali123
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Perfect buddy! Been following your analysis and my own TA and we are lining up pretty well. Ignore the hate, people just don’t like to believe the truth, hence I don’t share many ideas anymore, as long you gain yourself who cares if people don’t like what you have to say. Keep up the good work and let’s see the new lows forming. Hopefully by July so I can get some extra capital in!
lanlan3
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Why not have also laddered shorts all the way up to 7k as well? Are you no expecting a squeeze?
Sherem
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@allanmrtn, You could ladder shorts, but I wouldn't start laddering those until $7,100, they would need to be laddered up until 8.5k-9k.
lanlan3
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@Sherem, you are expecting 9k after the next 5.5k~ bottom, is that it?
Sherem
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@allanmrtn, No. If it starts rebounding from where we are right now it's where I think it COULD go, not necessarily where it will go. If it goes to 5.5k first I wouldn't expect 9k for quite some time.
johsnon0312
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for potential ladders I'm currently doing 4%, do you think is a good gap for current market?