Bitcoin-District

BITCOIN DISTRICT - WHAT IS COMING NEXT?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Welcome back to another BITCOIN Analysis!

As predicted last week, price bounced back up at the 6,2K level to our Target of 6,700 for a decent 6% profit! If you followed our strategy since we hit 10,000$ only 40 DAYS ago you should have made an aproximate of 39% in profits for just about 1% profit per day!! ;)

Bitcoin has been going horizontal since a few days now with low volume wich in our opinion indicates traders are waiting to see if price is going to break the 6,2k or not... If it does, be prepared to see a whole lot of panic sellers!!

Give us a follow, a share and make sure to hit the like button if you make some profits with this strategy!

LEGEND
- GREEN/RED LINES are bull and bear Fibonacci Channels = when at least 3 candles/12hours have crossed one of the lines, we usually want to consider taking a position.
- GREEN rectangles are BUY/LONG entry zones
- RED rectangles are SELL/SHORT entry zones
- TP = Take Profit = Short term TARGET
- ORANGE LINES are the 68.1 Fibonacci channels wich are for us, the most important lines to watch for trend/momentum reversals
- THICK RED LINES are the critical support/resistance lines
- BLUE markings are our last predictions and positions (Profits made or lost)

SHORT TERM STRATEGY
FOLLOW our drawings, take your positions according to the buy/sell entry zones and take your profits quickly when the target is reached. (TP)
Unless you're not from this planet, nobody can predict where the price is gonna go, take profits when you can and don't try to hit homeruns.
Our drawings are based on probabilities, trading daily/weekly is a matter of managing your risk, your emotions and sticking to your strategies.

LONG TERM STRATEGY
We strongly believe that BTC 0.13% is a strong long term buy under 9,000$.
We also believe that It is the safest cryptocurrency to hold for the long term.
That can be explained by many reasons wich we are not going to talk about here.

Visit our under construction website for more details : http://www.bitcoindistrict.net

OUR GOLDEN RULES
- DISCIPLINE and PATIENCE are key to be successful
- STICK to your plan/strategy
- SMALL positions at ALL times (5% max of your net equity)
- BIG POSITIONS = BAD DECISIONS
- Book/secure consistent profits, don't cap profit potential! 1% weekly profit compounded will make you filthy rich!
- PATIENCE with losing trades, eventually most of them become profits.
- Learn to manage your emotions, don't FOMO (Fear Of Missing Out)
- LONG TERM : "Buy when people sell, sell when people buy"
- BUY THE F****** DIP

FACTS TO ALWAYS KEEP IN MIND
- Trading is HARD. Most traders never manage to be consistently profitable.
- Greed is your enemy.
- A good trader is a good RISK manager.
- The more leverage you use, the more certain you will fail.
- If you can’t sleep at night, your positions are too big.
- You don’t need to have positions open at all times.
- A good strategy is NOT the most important part of your success. DISCIPLINE and PATIENCE come first.

Hope you enjoy our analysis, leave a comment, share and give us a follow to always stay tuned!!

Bitcoin-District
http://www.bitcoindistrict.net
I'm looking for a suggested book on your methods/strategy?
Reply
Bitcoin-District JonathanMcBrine
@JonathanMcBrine, We are currently developping a Trading school to explain how we draw all those lines and how to become a better trader. For now, it's still in development phase so what you could do is study this exact graph and try to figure it out. in short, we always start by drawing our main resistance/support lines followed by the 2 bull and bear channels" using the "Fibonacci Channel" tool provided on most platforms.

When beginning, the hardest part is to place those channels correctly but once you get the hang of it with practice combined with a good strategy, you'll be able to become very efficient trading cryptos and commodities. It is the most rewarding method we've found in 2 years of testing.

Thanks for your comment and give us a follow if you'd like to know when the trading school will be ready! ;)

Cheers,

- Sam
Reply
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