Hear comes the massive bullrun that I have been talking about!!
You can see this is a very long play. My Short from $10355 was very successful and I closed most of it at 5000% ROE on Bitmex. (In the Summer of 2019, 99% of the people I know told me this chart is impossible- but the 1% of the people I knew told me there would have to be something massive to create the necessary fud to cause such a crash. Covid fud happened and you can almost say that my chart predicted something like this lol- but I truly did not predict covid or anything- I just knew XBT was going to crash hard 1 last time.) I now need to get into my analysis.
You can see 2 great things happening: 1st since the recent crash is on a lot of people's mind, I will start with the great news about the crash. On the daily, the wick meets up with (the blue diagonal line) with support from previous support (this is only 2 touches though- 3 touches will be gold). The other amazing thing is the candle body rested on the previous supports (the blue horizontal line) from 2018 and 2017! 3 touches!!!! but there's 1 more thing: if you look at the resistance line that stats out from $20k ATH of 2017 and touches it again in June, 2018, XBT kept coming near it to retest and retest it.
XBT will hit $10k this month to give the resistance line of this descending wedge 1 last go. Now 1 of 2 things will happen: either it blasts through it, or it rejects it again (which is typical for a halving: a nice pump, a massive rejection back to support and then a massive explosion to a NEW All Time High! You want this rejection! Not only for the halving pattern that leads to ATHs, but to give that support 1 more hit to create a solid foundation for the new ATH.
What's my play? I will short some of my XBT at 10K(ish) (but note the RSI is pretty high so I don't expect $10K until the 3rd week of May) (but this does have the possibility to do a false breakout from this yellow symmetrical triangle because this is crypto which means there are so many noobs who fomo bigtime which is why I say 10k(ish)). After XBT tops out there and I short, I will then go long AND buy new Bitcoin at $4k where the support (of the yellow triangle) gets tested one last time to Prime the bull run. Now I said 4K because that is where the bottom of the yellow triangle is. It can very well fall beyond that as you can see with my orange lover arrow. If it breaks that support, watch for the other 2 possibilities of it hitting the blue lines again or if there is a lot of fud, it could even hit the other yellow dashed line at $3600. (This is why you need to be careful and use proper risk management. Put only a percentage of your funds in at 5.5k and if it drops to 4K, put more of those funds you have reserved for Bitcoin and if it drops to $3600, you can put in a lot more of those funds. Going all in at 5K would be very silly) The beginning of the true bull run will be at the end of the summer or beginning of fall- around the fall. after 10 this month or so, it will be a slow painful drop back to the support.
Remember to have patience and let the price come to you. Make you profits and share the knowledge. (Do I have to say this is not financial advice? It's your money and it is your thoughts that determine your actions. besides, I tell you to only use part of your money to do my trades as 1 possible strategy to use)
You can see 2 great things happening: 1st since the recent crash is on a lot of people's mind, I will start with the great news about the crash. On the daily, the wick meets up with (the blue diagonal line) with support from previous support (this is only 2 touches though- 3 touches will be gold). The other amazing thing is the candle body rested on the previous supports (the blue horizontal line) from 2018 and 2017! 3 touches!!!! but there's 1 more thing: if you look at the resistance line that stats out from $20k ATH of 2017 and touches it again in June, 2018, XBT kept coming near it to retest and retest it.
XBT will hit $10k this month to give the resistance line of this descending wedge 1 last go. Now 1 of 2 things will happen: either it blasts through it, or it rejects it again (which is typical for a halving: a nice pump, a massive rejection back to support and then a massive explosion to a NEW All Time High! You want this rejection! Not only for the halving pattern that leads to ATHs, but to give that support 1 more hit to create a solid foundation for the new ATH.
What's my play? I will short some of my XBT at 10K(ish) (but note the RSI is pretty high so I don't expect $10K until the 3rd week of May) (but this does have the possibility to do a false breakout from this yellow symmetrical triangle because this is crypto which means there are so many noobs who fomo bigtime which is why I say 10k(ish)). After XBT tops out there and I short, I will then go long AND buy new Bitcoin at $4k where the support (of the yellow triangle) gets tested one last time to Prime the bull run. Now I said 4K because that is where the bottom of the yellow triangle is. It can very well fall beyond that as you can see with my orange lover arrow. If it breaks that support, watch for the other 2 possibilities of it hitting the blue lines again or if there is a lot of fud, it could even hit the other yellow dashed line at $3600. (This is why you need to be careful and use proper risk management. Put only a percentage of your funds in at 5.5k and if it drops to 4K, put more of those funds you have reserved for Bitcoin and if it drops to $3600, you can put in a lot more of those funds. Going all in at 5K would be very silly) The beginning of the true bull run will be at the end of the summer or beginning of fall- around the fall. after 10 this month or so, it will be a slow painful drop back to the support.
Remember to have patience and let the price come to you. Make you profits and share the knowledge. (Do I have to say this is not financial advice? It's your money and it is your thoughts that determine your actions. besides, I tell you to only use part of your money to do my trades as 1 possible strategy to use)
"if you look at the resistance line that starts out from $20k ATH of 2017 and touches it again in June, 2019, XBT kept coming near it to retest and retest it.