BTC April 10. 2018 Bull Consolidation Ahead of Long Bull Summer
BTC as I stated in my last update has bottomed and has been consolidating for the past 7+ days ahead of commencement of a long term bull market that will eventually lead to new All Time High reaching at least 24,000 and potentially exceeding 100,000 before end of year. I see BTC from here next moving above the long term trend line shown on the chart to "E" where expect it to again trade sideways prior to pushing higher in the next leg up. I am confident we are in the last day(s) of consolidation and now is the time I am adding my final positions in the Alts to take advantage of this latest low price consolidation. I am setting stops 10% below all my entries to minimize any losses if I am wrong to 10% of my investment. I also have spread my portfolio across the top 50 market leaders and evenly into each segment (example - spread my alts among currencies, gaming, finance, etc. evenly into each segment). I also am evenly balanced in both BTC and ETH with a few of the other top currencies. I like the gaming tokens and some of the bank card types but spread my investments equally across all the Alt segments and again keeping a 10% stop order in place on all as well. IF my forecast proves correct (I have called every single major directional shift since I began sharing my forecast on DEC 23,2017 at which time I forecasted the coming crash advising all to set stops or go to the sidelines) I am expecting to make serious gains by the end of year without having to watch this market daily in front of the screen worrying about every bounce or drop. My forecasts included weeks in advance the low targets to expect ahead for entries and exits if short, which all proved correct and every significant price shift thereafter I also called with plenty of advance to set my trades up for substantial gain, both in short and long trade positions. I expect again to be correct with this forecast and I have therefore set up my positions for the balance of the year. I will monitor the weekly and more often if any surprised develop, but otherwise I will simply ride my trades and let the gains come to me over the remainder of the year as I look to see new highs across the board in BTC, ETC and of course the ALTS I trade.
Good Luck to all of you. Remember, no one calls it correct always and that is why I always use stop oders to ensure I do not take losses that destroy my portfolio preventing me from reassessing my trade if something fails to materialize or we get an unexpected turn in the market due to news releases, etc. I always set my stop at a percentage of my portfolio that I consider reasonable for me to lose if my trade goes against me. In this case it is 10% of my funds. You should set your stop at a level you are comfortable losing and that normally is lower than my 10% choice. However, bear in mind if I set my stop tighter than 10% due to the high volatility of crypto's I would likely be stopped out frequently and have to re-enter the trades, which in the U.S. may result in taxable events. If this trade works favorably and the crypto's rise in value I will periodically raise my stop orders until I have a risk free position locked in and thereafter continue to raise my stops to protect my gains. IT is very important to adjust stops periodically to protect your gains but keeping the stops set at a distance that normal volatility does not cause them to be triggered. Again, 10% is where I plan to keep stop oders set, but that may increase or decrease as this trade progresses based on my gains and volatilty of Crypto's as the year progresses.
BT
Good Luck and remember to share some of your time everyday doing something with close friends and especially with your family !!!
Good Luck to all of you. Remember, no one calls it correct always and that is why I always use stop oders to ensure I do not take losses that destroy my portfolio preventing me from reassessing my trade if something fails to materialize or we get an unexpected turn in the market due to news releases, etc. I always set my stop at a percentage of my portfolio that I consider reasonable for me to lose if my trade goes against me. In this case it is 10% of my funds. You should set your stop at a level you are comfortable losing and that normally is lower than my 10% choice. However, bear in mind if I set my stop tighter than 10% due to the high volatility of crypto's I would likely be stopped out frequently and have to re-enter the trades, which in the U.S. may result in taxable events. If this trade works favorably and the crypto's rise in value I will periodically raise my stop orders until I have a risk free position locked in and thereafter continue to raise my stops to protect my gains. IT is very important to adjust stops periodically to protect your gains but keeping the stops set at a distance that normal volatility does not cause them to be triggered. Again, 10% is where I plan to keep stop oders set, but that may increase or decrease as this trade progresses based on my gains and volatilty of Crypto's as the year progresses.
BT
Good Luck and remember to share some of your time everyday doing something with close friends and especially with your family !!!