I'm holding a long term spot position in $BTCUSD, chances are the 2-Month timeframe trend pans out favorably overall. If that is the case, we may reach as high as 280k by the time it ends near 2021. It is a 16 month trend, with 14 months left in it. Valid as long as we hold over 6481. The biweekly timeframe formed a base and subsequent trend signal which kickstarted the rally we had so far, but since then, the pace of reaccumulation and trending sped up, with very clear and logical trends being spotted in the 3-Day timeframe. I think this is a good sign, since the longer term trend should hold the market together for the most part, until we hit the target when time expires or sooner.
It should be extremely hard for anyone who missed this move to pay up for $Bitcoin, the trend will whipsaw people when they FOMO in, but not fall low enough to ever please dip buyers, or to let those who missed it buy at a cheap enough price for them to be content. This is how trends work. Smart money is heavily invested and shaking people out left and right.
Best bet is to buy when it looks ugly but it WON'T be easy. And if you're in, HODL. Volatility of this market is big but the fundamental case for $Bitcoin is a great one and technicals are spot on for a massive rally.
Best of luck to all my followers and clients who have been trading with me since a long time ago.
Cheers,
Ivan Labrie.
It should be extremely hard for anyone who missed this move to pay up for $Bitcoin, the trend will whipsaw people when they FOMO in, but not fall low enough to ever please dip buyers, or to let those who missed it buy at a cheap enough price for them to be content. This is how trends work. Smart money is heavily invested and shaking people out left and right.
Best bet is to buy when it looks ugly but it WON'T be easy. And if you're in, HODL. Volatility of this market is big but the fundamental case for $Bitcoin is a great one and technicals are spot on for a massive rally.
Best of luck to all my followers and clients who have been trading with me since a long time ago.
Cheers,
Ivan Labrie.
Trade closed manually:
There's overwhelming evidence telling me that support will break this time and we may go lower before moving up.
2W timeframe trend expired 2 weeks ago, this indicates potential sideways or weakness in prices until mid September. I'm currently hedged, locking in a small profit from my 9760 entry.
Comment:
Next dip to 8125 might be a great long term opportunity in #BTCUSD:
Watching developments closely to exit hedge safely at the bottom.
Trade active:
Covered the hedge today at 9400 ish.
There's a good chance we bottomed ahead of what the down trend target implies. Long term trend is up and might affect the validity of bearish targets in the short term. Also everyone wanted to buy back near 8k, making it unlikely.
Covered the hedge today at 9400 ish.
There's a good chance we bottomed ahead of what the down trend target implies. Long term trend is up and might affect the validity of bearish targets in the short term. Also everyone wanted to buy back near 8k, making it unlikely.
Comment:
The first down trend signal failed to hit the target on time, this is a Bullish signal.
The first down trend signal failed to hit the target on time, this is a Bullish signal.
Comment:
Approaching first resistance zone near 10982.
Comment:
3D timeframe did trigger a trend signal as I originally expected.
Now it points to 16 to 25k by Sept.
3D timeframe did trigger a trend signal as I originally expected.
Now it points to 16 to 25k by Sept.
