Warning: Bitcoin has a VERY Hard & MAJOR Decision to Make
We are now at the cross roads in Bitcoin, we are either going to substantially higher, or substantially lower.
Two major daily trend lines are intersecting and we are approaching the tip of the intersection. Each day that goes by, the space gets smaller and smaller, Bitcoin is getting backed into a corner and HAS to make up it's mind.
In these situations, you don't want to be involved, you want to get out as fast as you can at the top of the trendline, which is currently 10,900, so an early exit of 10,820 is recommended so you can secure your exit.
After you sell, wait to see how this plays out. If we break to the upside, you need to wait for the candle to confirm on the DAILY CHART. Yes this means even if it goes to 11.2 or higher after it breaks out, DON'T BUY until it confirms on the daily chart! From there, expect major resistance again at 11.8. I would recommend exiting at 11.7 and buying back once we're above 11.8 on the 4 hour chart.
If it falls out of this channel, which is currently at $9,700 (and rising $100 each day), it will go a lot lower, most likely into the 7,000s. Don't risk it all if you have a chance to sell at 10,800+, pick and choose your battles wisely, this is not a battle you want to be apart of.
Two major daily trend lines are intersecting and we are approaching the tip of the intersection. Each day that goes by, the space gets smaller and smaller, Bitcoin is getting backed into a corner and HAS to make up it's mind.
In these situations, you don't want to be involved, you want to get out as fast as you can at the top of the trendline, which is currently 10,900, so an early exit of 10,820 is recommended so you can secure your exit.
After you sell, wait to see how this plays out. If we break to the upside, you need to wait for the candle to confirm on the DAILY CHART. Yes this means even if it goes to 11.2 or higher after it breaks out, DON'T BUY until it confirms on the daily chart! From there, expect major resistance again at 11.8. I would recommend exiting at 11.7 and buying back once we're above 11.8 on the 4 hour chart.
If it falls out of this channel, which is currently at $9,700 (and rising $100 each day), it will go a lot lower, most likely into the 7,000s. Don't risk it all if you have a chance to sell at 10,800+, pick and choose your battles wisely, this is not a battle you want to be apart of.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.