I will be very honest and show you my cards and what I'm hoping for. I will do very well next year if BTC goes from here to 20K or above, but I will do exceptionally well if we hit the $4800 area, why? Because at that point I would have 100% of my working capital in, and BTC is showing signs of storing all kinds of energy for the next move, meaning we may go north of 20K. If you have been following along you are 55% to 65% in as well. This next bull run is guaranteed to -- at the very least -- double your money if you have an Alts heavy portfolio. One thing you have to remember about my trading style is that for it to be profitable you must have patience. If this is the bottom, BTC may start ranging along that green line for days maybe even weeks but eventually we'll have a big parabolic move up and the good times will start. Our best-case scenario for 2020 is that we meltdown to $4800, at which point most good, worthwhile Alts would be dirt cheap. If you load up -- as I plan to do -- and do position trading, which means you hold your coin until it hits your exit point you should do very well in 2020 and even better if you hold beyond 2020.
Example: If you buy LTC at $20 (let's use a random amount) using 5K you will then have 250 LTC and if you wait until it hits $200 you will end up with 50K. This is a very realistic scenario for 2020. This is the type of move I am waiting for, if this does not happen you will still get a couple of chances to make good money with 2 or 3 trades next year. Let me be clear; Only commit an amount you can afford to lose, I'm not telling you to put 5K in, the above is just an example of what I have been doing with Crypto.
Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits.
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NOW, THE LEGEND; Support trend lines are green Resistance trend lines are Red Horizontal support lines are white, the thicker the stronger the support 50 Moving Average is yellow 200 Moving Average is white
THE TREND: Going Down but finding stability THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
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Another perspective, this is the 4H timeframe. You can see that we are now running down the old resistance line which has turned into support now. It is important to remember that BTC could simply be retesting the bottom and not going down further.
Thank you for your analysis! I follow them regularly and love the clear, concise style of yours. I was wondering, which alts you consider fundamentally strong? I know this is information you may prefer not to share, but if you would (even a few), I would be very thankful. :)
cryptoGats
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@phenixity, Full transparency my friend. I like the looks of ETH, LTC, BNB, NEO and a couple of others.
phenixity
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@cryptoGats, Sweet, thanks! These are definitely on my radar as well :)
cryptoGats
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@phenixity, Never get stuck with lesser coins "That may explode" they never do, all you will end up with is the shrapnel.
Anpu
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Great Idea!
This is my recent analysis on Bitcoin.
I am not young still dumb and broke, but I believe that we will never reach the top..Inflation of any fiat and deflation of BTC will make numbers go crazy..
@cryptoGats, I do hope that at some point in future we will start counting or "realizing" value via satoshi rather than usd or eur. I do hope for that with all my heart, wealth distribution is a must. I do believe that happens in next 50 years. I do hope in next 20 or so. But in next 10 we will still have roller coaster regarding price action. Agree? disagree? thoughts?
cryptoGats
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@vee4crypto, Awesome topic my friend. In a sense that's what we are doing here, trying to establish and alternative currency but it was hijacked and it has been corrupted by banks and the exchanges. We have also played a part in seeing it as a means of building wealth as opposed to a utility. I just disagree with the time frame, I think we will soon see a coin that will be a true form of reliable digital payment.