The Rules of Bitcoin. The art of hodling Bitcoin and USD.
Whats up? Welcome to this consistent update analysis on Bitcoin based on our beautiful Fibonacci Retractment Levels. Looking at the 4hr chart we see a consistent Fibonacci Levels, you can see BTC appear to love 0.236 fib, 0.5 fib, 0.786 fib. Additional rules of trend line (pink, dotted red, dotted blue, dotted red) act as a Support and Resistance and will nullify Fibonnaci Retractment Levels in some timeframe.
It is unwise to do trades with emotions (FOMO and FUD) near those rules. I personally add 15% of my crypto net worth into Bitcoin and USD on those rules, regardless of its volatility behaviour. If you fail to set aside your emotions, look at those rules and treat those rules as Support and Resistance . Always secure small profit and set a tight stop-loss, in volatile market, conservative wins, always.
**Indicator constantly fails Bitcoin . Name it, MACD , RSI , BB, EMA (12, 26, 50, 100, 200), SMMA (7). It gives you false signal. Some of you feel the market is highly manipulated, and it is. Bot are not in favor in this market, at all. Case: A bot was created with the intention to get a 100% profitability, and it was achieved on 7-day timestamp Backtest environment. However, do you know what happen within the next days? It was starting to lose money.
**Bitcoin market cap is 173 billion USD as we speak. However, the market behaviour somehow it's not correlated with its volatility behaviour. It is speculated that the actual market cap isn't 173 billion USD, far from that number, which turns out to be true will justify its volatility behaviour.
**It is unwise to decide a Top or Bottom when the Volume is below Volume Average as some of you may call for reversal because of Bullish Divergence RSI MACD and trend line break out on the 1hr chart at Feb 23th, 10:00 GMT+7 (It's gone, don't bother to check it).
**This information is not a recommendation to buy or sell.
It is unwise to do trades with emotions (FOMO and FUD) near those rules. I personally add 15% of my crypto net worth into Bitcoin and USD on those rules, regardless of its volatility behaviour. If you fail to set aside your emotions, look at those rules and treat those rules as Support and Resistance . Always secure small profit and set a tight stop-loss, in volatile market, conservative wins, always.
**Indicator constantly fails Bitcoin . Name it, MACD , RSI , BB, EMA (12, 26, 50, 100, 200), SMMA (7). It gives you false signal. Some of you feel the market is highly manipulated, and it is. Bot are not in favor in this market, at all. Case: A bot was created with the intention to get a 100% profitability, and it was achieved on 7-day timestamp Backtest environment. However, do you know what happen within the next days? It was starting to lose money.
**Bitcoin market cap is 173 billion USD as we speak. However, the market behaviour somehow it's not correlated with its volatility behaviour. It is speculated that the actual market cap isn't 173 billion USD, far from that number, which turns out to be true will justify its volatility behaviour.
**It is unwise to decide a Top or Bottom when the Volume is below Volume Average as some of you may call for reversal because of Bullish Divergence RSI MACD and trend line break out on the 1hr chart at Feb 23th, 10:00 GMT+7 (It's gone, don't bother to check it).
**This information is not a recommendation to buy or sell.
Trade closed: stop reached:
Clearing ideas.
**An update of The Rules of Bitcoin. The art of hodling Bitcoin and USD.
Double Bottom spotted!