Just a possible long-term setup I thought I could share.
Up to date, any time you purchased at 200MA Weekly made you very rich over the next year and so on.
Following the start of the bull phase, it's shown it is best to reaccumulate at the 21MA Weekly, still providing immense gains in the weeks ahead.
Check out the chart from 2014 to 2017, which was also in a bear trend leading up to the halving.
Things to note:
We are still in lower highs and haven't broken out of the macro key resistance levels just yet, but this sideways action does support the bulls the longer we keep this up.
We seem to have good volume to support a breakout.
If i see price levels near 6.5k, I would look at that as a great opportunity for a low-risk high-reward long-term setup.
*BUT, if we close daily candle bodies below the 200MA then the entire trend that has held for the past decade until today will be negated! Something to definitely keep an eye on for sure.
In the past, we had quite a few chances to accumulate at 200MA weekly before finally breaking out to the upside and staying above the 21 weekly for the next few years.
This is why i included the possibility that we may only dip to the 21 weekly before heading up again simply because of the volume the past few weeks.
Bankroll management is key here. I will personally accumulate at 21 weekly and play a possible bounce but will also be super ready for that possible downside move to the 200MA key level.
This isn't trading advice, just my opinion on the current market.
Safe trading, cheers.
Up to date, any time you purchased at 200MA Weekly made you very rich over the next year and so on.
Following the start of the bull phase, it's shown it is best to reaccumulate at the 21MA Weekly, still providing immense gains in the weeks ahead.
Check out the chart from 2014 to 2017, which was also in a bear trend leading up to the halving.
Things to note:
We are still in lower highs and haven't broken out of the macro key resistance levels just yet, but this sideways action does support the bulls the longer we keep this up.
We seem to have good volume to support a breakout.
If i see price levels near 6.5k, I would look at that as a great opportunity for a low-risk high-reward long-term setup.
*BUT, if we close daily candle bodies below the 200MA then the entire trend that has held for the past decade until today will be negated! Something to definitely keep an eye on for sure.
In the past, we had quite a few chances to accumulate at 200MA weekly before finally breaking out to the upside and staying above the 21 weekly for the next few years.
This is why i included the possibility that we may only dip to the 21 weekly before heading up again simply because of the volume the past few weeks.
Bankroll management is key here. I will personally accumulate at 21 weekly and play a possible bounce but will also be super ready for that possible downside move to the 200MA key level.
This isn't trading advice, just my opinion on the current market.
Safe trading, cheers.