If you did not FOMO you are in great shape. Isn't it a great feeling when you let the trade come to you? We waited patiently until BTC came down to our buy point precisely (which was set a few weeks back.) You are now buying cheap and safe from those that bought as we were going up (due to bad advice), and from those that set old style trailing stop-losses. If you learned about stop losses from books that reference stock markets in the 1980's good luck, you'll be stuck in a hopeless strategy. Crypto moves differently therefore your strategies should be slightly different.
By now you can see the benefit of fixing your trading tempo, you are now buying low and will sell high once we get to the next designated sell point/resistance. On the last successful trade, you got to keep your profits because you sold at resistance and you will do so again next time. Now, let's hope for a further dip to our last key designated areas so we can tighten the screws on those without a proper stop-loss strategy. With this last move, we are going stop-loss hunting!
WHATS NEXT?
In the long term, we let the 50/200MA golden cross take effect and we let BTC run for a while. The next resistance point is around 14K, remember that we are expecting a further dip so do not sell if you see BTC going down. There is a lot of force telling us that in the long run, BTC is going up, and one indicator telling us that there will be one last temporary pullback, that indicator is the 3D chart, we don't know how far down we will go, but we did know it was going down, so we took advantage. Buying in small percentages in key places while going down is your best bet. Why? If BTC continues to go down after your main percentage hits, you have plenty of cash to buy in case it goes further down or up, with this strategy if BTC goes up you make money and if it goes down you make money.
HEADS UP
This next run will be good for Altcoins so you can't go wrong buying BTC is you have a large-cap portfolio and you will not go wrong if you buy alts if you have a small-cap portfolio.
If you are sick of losing money and you want to become a better trader PM me, I can help you. Crypto trading can either be a money pit or a piggy bank for you. What's the difference? Your trading style or lack of one.
A WORD TO THE WISE
Do not short any coin unless you are an intermediate or expert trader, you will lose your money.
Put your money at play only once you find a low-risk high reward entry.
Learn to chart and listen to fewer opinions.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
THE TREND: Beginning an uptrend
THE OUTLOOK: Potential golden cross around the 18th
By now you can see the benefit of fixing your trading tempo, you are now buying low and will sell high once we get to the next designated sell point/resistance. On the last successful trade, you got to keep your profits because you sold at resistance and you will do so again next time. Now, let's hope for a further dip to our last key designated areas so we can tighten the screws on those without a proper stop-loss strategy. With this last move, we are going stop-loss hunting!
WHATS NEXT?
In the long term, we let the 50/200MA golden cross take effect and we let BTC run for a while. The next resistance point is around 14K, remember that we are expecting a further dip so do not sell if you see BTC going down. There is a lot of force telling us that in the long run, BTC is going up, and one indicator telling us that there will be one last temporary pullback, that indicator is the 3D chart, we don't know how far down we will go, but we did know it was going down, so we took advantage. Buying in small percentages in key places while going down is your best bet. Why? If BTC continues to go down after your main percentage hits, you have plenty of cash to buy in case it goes further down or up, with this strategy if BTC goes up you make money and if it goes down you make money.
HEADS UP
This next run will be good for Altcoins so you can't go wrong buying BTC is you have a large-cap portfolio and you will not go wrong if you buy alts if you have a small-cap portfolio.
If you are sick of losing money and you want to become a better trader PM me, I can help you. Crypto trading can either be a money pit or a piggy bank for you. What's the difference? Your trading style or lack of one.
A WORD TO THE WISE
Do not short any coin unless you are an intermediate or expert trader, you will lose your money.
Put your money at play only once you find a low-risk high reward entry.
Learn to chart and listen to fewer opinions.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
THE TREND: Beginning an uptrend
THE OUTLOOK: Potential golden cross around the 18th
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Going 100% according to plan. We hit the safe entry point and now walking along side horizontal support. DO NOT SELL IF WE DIP, that is something that we are counting on.
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Heads up: If BTC goes down, use your extra capital to buy at the key points but do not sell, If BTC goes up do not sell until we hit resistance, if BTC ranges sideways for awhile we'll set up a stop loss at a key place.
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KEEP HITTING THE LIKE BUTTON IT KEEPS THIS POST RELEVANT AND I CAN KEEP UPDATING.
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Slowly climbing back up. Heads up: If you learn to chart and do analysis no one can take that away from you, but if you trade without learning, your money is there for the taking. PM if you are serious about learning to trade.
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As most of you know, I take only a few trades a year which is more than enough to make a serious amount of money and keep the profits. You are now at the beginning of one of those trades, it takes patience and discipline to get in and good technical analysis to know when to get out. The biggest questions beginners have are:
When to get in, what does a safe entry point look like?
When and where to set your stop loss so you don't have death by a thousand cuts
When to get out so you don't ride back down with your profits until they are gone.
My previous posts have all the answers and I will go into these topics in the days to come as well.
When to get in, what does a safe entry point look like?
When and where to set your stop loss so you don't have death by a thousand cuts
When to get out so you don't ride back down with your profits until they are gone.
My previous posts have all the answers and I will go into these topics in the days to come as well.
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Quick heads up: When you chart properly you will naturally have points of confluence. In my charts the red lines represent resistance trend lines, the green ones are support trend lines, the white ones horizontal support or resistance. When you see support lines meet that usually has a positive effect on price and when you see resistance lines meet, they usually have a negative effect on price. Additional analysis will show you long term negative or positive effects. Simple and clean.
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The 4H chart is the battle zone to watch. We want to make sure we can close this second candle above the trend line and the 50MA which will bring BTC back into the channel.
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On the 4H chart BTC has been able to stay above the 50MA and currently interacting with the trend line.
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For now BTC is staying above the 50MA and just above resistance.
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BTC on the move again, going back up.
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For those that missed the opportunity to jump in there will be other chances to do so as BTC will eventually pullback again.
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This shady dip is why we always leave cash in hand and why we leave those low buy orders intact. Anything is possible in crypto. Good news, our last LTC buy order did hit.
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Yet another chance to buy a percentage at the recommended buy zone. We have left a percentage in the reserves for this type of reason. KEEP IN MIND THAT ALL OF THIS WAS ACCOUNTED FOR. If we retrace it is temporary but long term we are going up. There are people in the comments section trying to fog your thinking. This trade is playing out exactly as we have planned. Our outlook is for the long term PM if you need help or if you need clarification.
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BTC has one more trick up its sleeve. If we go down further it will hit our last 2 and ridiculously low buy orders. To get some clues go back to the top and read the "WHATS NEXT PARAGRAPH." We also have a very low buy order for ETH. By the way we are using the profits from the last trade that we closed at $9100.00 to possibly fulfill buy order below $9100.00
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BTC is refusing to close below my horizontal support line. As you can see the exchanges and algos know where you are hiding and they will reach down to close you out right before the good times start. Learn to strategically set your stop loss or pay the price. How do I know that is stop loss hunting? It reaches down and immediately goes back up above support.
