CRInvestor

Bitcoin - Seasonal Opportunity within the chaos (2 of 2)

BITFINEX:BTCUSD   Bitcoin / Dollar
1770 18 12
Part 2 of 2 con't...

So, with this wonderful backdrop, were does that leave us as traders. Interestingly, while the world is a very fearful place at the moment it doesn't mean there won't be opportunities in the future (or even the near future). As traders, we can't be caught up in what is happening today. Indeed, we must force ourselves to look into the future and postulate about that. Since the market is a 'forward discounting mechanism' for us to make capital gains (which is what we are doing as traders) we must not only anticipate price but also too anticipate that forward discounting mechanism. We must rely on our time tested 'setups' and believe that ultimately our setups will produce the desired 55% minimum accuracy threshold (with a reward to risk ratio of at least 2:1) needed for long term survivability. Remember, we don't get paid to have opinions, we get paid to take setups.

So this brings us to today's posting. I find it very interesting that Bticoin seems to be repeating a very similar price pattern seen through the spring. The spring setup (both Mtn             Man and Hollywood Nik setup points highlighted on the chart on the left) led to what I have previously deemed the 'trade of the year' and a nice 45% plus rally. Can we expect to see a similar trade going forward? While price certainly won't set up in exactly the same fashion, I believe that if we get a similar move down into the Optimal Trade Entry (long) zone (in this case $304 to $327) the risk/reward on going long and risking against the $275 lows looks very attractive. Since this setup is specifically within my trading plan .....I will be taking the setup. For me, its just a question of patience, discipline and following my well laid out plan. I'm hunting and may soon turn to stalking....

Cheers and best of luck in following those trading plans,
Brian
aka The Rational Investor
p.s. if you are serious about working on your trading skills and may actually consider trading for a living, please take a moment and visit our Bitcoin related trading site at http://www.therationalinvestor.co Along with regular blog posts and member videos, we run a school to teach aspiring traders the basic essentials to trading for profit over the long term. From risk management, to strategic planning to crafting a personalized trading plan , our 12 week program's aim is to give you the tools needed to survive and prosper over the long term. While the school has a bitcoin theme, all principles of trading are applicable across all asset types and classes...a good buy is a good buy...
Nathanael
2 years ago
seeing the same thing as well.
snapshot
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lukas.o.chudy
2 years ago
I was curious if you are still involved in bitcoin. I am glad you are :)
Thank you for your really complex opinion.
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MoonTrader
2 years ago
We're not paid to have opinions, but you sure don't mind telling us yours.
-18 Reply
CRInvestor PRO MoonTrader
2 years ago
Comments like that one is the reason why I don't post on the site very often anymore......like you even have to read this post....
+8 Reply
MoonTrader CRInvestor
2 years ago
Well, it looks like I accomplished something, then.
-12 Reply
CRInvestor PRO MoonTrader
2 years ago
you're an idiot...wtg...what a waist of your time
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MoonTrader CRInvestor
2 years ago
Thanks for your concern over how I spend my time. Maybe you're right, though. Someone who calls people isolationists just because they don't want to go to war with the world is not worth my time.
-10 Reply
CRInvestor PRO MoonTrader
2 years ago
are you still here, shoo pest shoo....I need to get some Raid or something for clowns like you
+3 Reply
Adohgg CRInvestor
2 years ago
Please continue posting. I appreciate your analysis very much personally :).
+1 Reply
CRInvestor PRO Adohgg
2 years ago
ya, sadly it takes one fool like this MoonTool to dissuade the free sharing of information and ideas. The irony is no one is asking anyone to read my work and i am not looking for validation for this audience.....even TradingView likes my stuff but all it takes is one fool like this for me to say, 'hell with it, just worth the headaches' and yet people you like could really benefit from this kind of free information exchange....
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devlspawn CRInvestor
2 years ago
No worries, as you can see he is being heavily downvoted. Everyone else genuinely appreciates the knowledge you have to share.
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CRInvestor PRO devlspawn
2 years ago
tyvm
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Maddie
2 years ago
Hi there,
Thanks for sharing.
How do I make a chart like this one?

Kind Regards,
Maddie
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CRInvestor PRO Maddie
2 years ago
hey there, simple candlestick chart with fibs. Two charts on one page is a 'pro' feature
Reply
Maddie CRInvestor
2 years ago
Ah thanks for the info! :)
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Cryptoelite PRO Maddie
2 years ago
Maddie, did you know you can open the chart and click the share button and the select 'make it mine' ?
+3 Reply
Maddie Cryptoelite
2 years ago
Thanks!!
Reply
Diabolicus
2 years ago
Thanks for sharing your thoughts here, please continue to do so, it is very much appreciated.
I learn a lot on this platform, especially when charts are accompanied by explanatory comments, rather than simple "This will go up, because moon."-statements.
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