If you have not begun to accumulate Bitcoin yet, NOW is the time to begin accumulating with Dollar Cost Averaging Technique. I'm expecting us to leg up to a higher trading range between $8,900 and $9,700 fairly soon. I'm also expecting us to remain within that trading range for a while before legging up again to a higher trading range between $9,700 and $10,700 during the month of December, 2019. We may experience a fairly deep shakeout down to approximately $8,500 the last week of December or first week of January before finally heading up to our new price range target on or around the bitcoin block halving in May, 2020.
Please consider accumulating with Dollar Cost Averaging Technique NOW. Don't forget to take ALL of your coins OFF EXCHANGE AS YOU ACCUMULATE. I explain WHY in comments section of a previous chart publication. Once you have created a cushion by accumulating NOW and the price action heads up to my target in May, 2020 then consolidates into a HIGHER trading range, you can consider day trading with SOME of the coins you have accumulated. Meaning, you can bring SOME of those coins you have accumulated back to the exchange for the purpose of day trading or short term trend trading. I would not consider bring most of your coins to an exchange until we are nearing a buying climax similar to December 2017.
Thanks for your time watching and your support!
Stay Awesome!
David
Comment
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It's perfectly fine to keep SOME of your coins on exchange for day trading. However, PLEASE do not keep ALL your coins on the exchange. PLEASE take most of them off exchange and put in a paper or hardware wallet.
If you are curious about where I talked about WHY you should accumulate and take MOST of your crypto OFF EXCHANGE, click the following chart (below) and scroll down to my last comment:
Great review David!
Would be great to hear your thoughts about my idea. Here I explain why candlesticks with the most buying/selling pressure are very important, and why they creat points of interests and strongest support and resistances for the price
Thanks for sharing your opinion... As always... ; )
Stay Awesome!
David
Popovich
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I understand and agree with the general atmosphere of the market indicated by the weekly timeframe as you described. But when it comes to what happens next, if I am not considered brandishing my ignorance, I see that the purple energy in 3 days to 4 days timeframe are both coming down about to cross 50% line, both way above the blue RSI. The purple energy on the daily has reached 90+ level. After half a day of pump, the 6, 8, 12 hour candles appears at the point of exhaustion.
Is it rational to think that this could be a bulltrap, and that the higher probability outcome in the coming days is a drop in price along with the 3 to 4 day timeframe, for a few days, either as a time or price correction, until they roughly align with the upward momentum in the 5-7-12 day timeframes and pump once and for all out of the woods? That it might take roughly another 4-8 days to finally pump for good?
Popovich
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@popovichian, I am just thinking out loud. Brainstorming you see.
WyckoffMode
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@popovichian,
"Falling? Nope! ... Ballin? Yup! ... More Time Frames..."