Introduction
Now, I want to preface this price analysis with the fact that I didn't want to mark this as 'neutral' because I feel that that's a cop out, and most of you all are looking for definitive predictions.
However, please note the R/R ratio that I put on here. There's only a -3% S/L placed on the trade, so we're not placing a great amount of risk here.
Even if you had 50% of your entire portfolio invested into Bitcoin - if you get stopped out of the trade, you've only lost 1.5% from your total portfolio, which is something that you should be able to bear.
Now if you're leveraging, that's a different story my friend.
Actual Analysis
As you can see in the picture above, this is a potential feast or famine situation for Bitcoin here.
It could either bust upward above this overhead resistance at $6.5k and then hit $6.9k, or it could blow back downward toward $6.2k to stay within this trading range for a while longer.
The purpose of this article will be to access whether that will or won’t happen and make an educated guess, followed by smart portfolio management to hedge so that we’re profitable in either scenario.
First, though —
Here's a Picture of the Trading Range I'm Referring To
Divergence on the Daily Chart for RSI
Exponential Moving Averages
As you can see above, each one of the EMA indicators on this chart symbolizes a resistance point that Bitcoin will have to eventually reach.
Potential Flat Top Pattern Forming on the H4
Conclusion
It’s hard to state now, but it a breakout above $6.5k is definitely more than possible.
However, it is not guaranteed, and there is no way that the author would reocmmend for anyone to stand in the line of fire ready to catch that bullet if they are not entirely ready on their own
Now, I want to preface this price analysis with the fact that I didn't want to mark this as 'neutral' because I feel that that's a cop out, and most of you all are looking for definitive predictions.
However, please note the R/R ratio that I put on here. There's only a -3% S/L placed on the trade, so we're not placing a great amount of risk here.
Even if you had 50% of your entire portfolio invested into Bitcoin - if you get stopped out of the trade, you've only lost 1.5% from your total portfolio, which is something that you should be able to bear.
Now if you're leveraging, that's a different story my friend.
Actual Analysis
As you can see in the picture above, this is a potential feast or famine situation for Bitcoin here.
It could either bust upward above this overhead resistance at $6.5k and then hit $6.9k, or it could blow back downward toward $6.2k to stay within this trading range for a while longer.
The purpose of this article will be to access whether that will or won’t happen and make an educated guess, followed by smart portfolio management to hedge so that we’re profitable in either scenario.
First, though —
Here's a Picture of the Trading Range I'm Referring To
Divergence on the Daily Chart for RSI
Exponential Moving Averages
As you can see above, each one of the EMA indicators on this chart symbolizes a resistance point that Bitcoin will have to eventually reach.
Potential Flat Top Pattern Forming on the H4
Conclusion
It’s hard to state now, but it a breakout above $6.5k is definitely more than possible.
However, it is not guaranteed, and there is no way that the author would reocmmend for anyone to stand in the line of fire ready to catch that bullet if they are not entirely ready on their own
Telegram = t.me/librehash
Twitter = twitter.com/librehash
Website = librehash.org
GIt = git.librehash.com
Docs = docs.libreahsh.com
Twitter = twitter.com/librehash
Website = librehash.org
GIt = git.librehash.com
Docs = docs.libreahsh.com