$BTC / #Bitcoin ... Monthly outlook... Strong Macro Indicator
Hello Traders,
Here is the monthly outlook showing the Bitcoin price action on the logarithmic scale.
The bright green line is the EMA(65) and the Relative Strength Index is set to an RSI(5).
What to watch?
Watch for the price action to tap, hit, or cross the EMA(65), and watch for the RSI to break below the 30 level,(we are very close)
With current market conditions, we are in a buy and hold. Buying extremely strong projects at extreme discounts, to hold for the long term, to capitalize on massive gains.
Unless you're a savant trader. The tried and true is buying during these exact market conditions. You won't buy the exact bottom, you won't sell the exact top. But we can get damn close when using historical price points with the highest rate of return. This is one of those times.
You'll never feel 100% confident in any purchase or sale bc nothing is certain. But you can increase those odds by having patience and setting buy levels.
The EMA(65) is sitting around $22,262(depending on which chart you're looking at & how much history "said" chart has). So if I was a gambling man, which I am. I've pre-set my purchase order at the EMA price. As well with orders at a 10% deviation set below ($19,900+/-) and set above($24,500+/-) the EMA price point.
What's interesting is that the bottom10% deviation price point at $19,900, lines up almost perfectly with the 2017 top at $19,804, which could also be a strong bottom signal, flipping what was once resistance into support.
What's my mind frame during a time like this?
I first got serious about crypto right after the 2017 crash started taking place, I made zero money, but I lost a whole lot, or at least it was a lot to me at that time. I originally learned of Bitcoin back in 2013 but it was just way too over my head, and I didn't give it a second thought. Then during the 2018-2020 crypto winter, I worked as much as I could selling as many homes as I could(I'm a realtor) to stack cash, and purchase as much crypto and stocks as I could. This proved to be the right approach. Then once things really started to kick off after April 2020 I took a year off from real estate, to focus solely on crypto, which again, proved to be the right approach.
Now, as we sit here in my second or 3rd bear market depending on how you want to look at the May 2021 crash, I don't see any reason to deviate from the path that has proved profitable.
Put the head down, work the face-off, and run with the bulls when the market says, Ser, wen moon??
Good luck!
Here is the monthly outlook showing the Bitcoin price action on the logarithmic scale.
The bright green line is the EMA(65) and the Relative Strength Index is set to an RSI(5).
What to watch?
Watch for the price action to tap, hit, or cross the EMA(65), and watch for the RSI to break below the 30 level,(we are very close)
With current market conditions, we are in a buy and hold. Buying extremely strong projects at extreme discounts, to hold for the long term, to capitalize on massive gains.
Unless you're a savant trader. The tried and true is buying during these exact market conditions. You won't buy the exact bottom, you won't sell the exact top. But we can get damn close when using historical price points with the highest rate of return. This is one of those times.
You'll never feel 100% confident in any purchase or sale bc nothing is certain. But you can increase those odds by having patience and setting buy levels.
The EMA(65) is sitting around $22,262(depending on which chart you're looking at & how much history "said" chart has). So if I was a gambling man, which I am. I've pre-set my purchase order at the EMA price. As well with orders at a 10% deviation set below ($19,900+/-) and set above($24,500+/-) the EMA price point.
What's interesting is that the bottom10% deviation price point at $19,900, lines up almost perfectly with the 2017 top at $19,804, which could also be a strong bottom signal, flipping what was once resistance into support.
What's my mind frame during a time like this?
I first got serious about crypto right after the 2017 crash started taking place, I made zero money, but I lost a whole lot, or at least it was a lot to me at that time. I originally learned of Bitcoin back in 2013 but it was just way too over my head, and I didn't give it a second thought. Then during the 2018-2020 crypto winter, I worked as much as I could selling as many homes as I could(I'm a realtor) to stack cash, and purchase as much crypto and stocks as I could. This proved to be the right approach. Then once things really started to kick off after April 2020 I took a year off from real estate, to focus solely on crypto, which again, proved to be the right approach.
Now, as we sit here in my second or 3rd bear market depending on how you want to look at the May 2021 crash, I don't see any reason to deviate from the path that has proved profitable.
Put the head down, work the face-off, and run with the bulls when the market says, Ser, wen moon??
Good luck!