In programming, there is a term abbreviated IFTTT (If this then that), Technical Analysis is a lot like that. My Analysis simply is reading the sentiment of buyers and sellers and interpreting it for you with an "If This Then Than" approach. Looking at the 1D timeframe we can see that price has arrived at the thick black line which means support in my charts (the thicker the line the stronger the support) If this support holds then BTC may rally up, but the most likely scenario is a meltdown to that middle green X which is becoming a great Buy Zone. However, the dark green X below it is my Optimal buy zone, why? Simply because it has support, it will be a the bottom of a trendline, it is right at the 200MA on the 3D timeframe, and exactly the 61.8 retracement of the entire 2019 move. If Bitcoin makes it there, then I will load up on premium alts to make most of my money for the year. That will be a low-risk high reward set up. I will then hold onto those alts until they double in price and then some.
My style is not to chase every trade set up, my style is to find extremely low-risk high reward setups. That is how you can make $100,000 in one year without giving it back in the next few weeks. Patience and discipline will land you the big fish 2 to 3 times a year. I previously bought BNB, LTC, NEO and ETH in January of this year and dumped them in June, that made me a lot of money, now I'm waiting for the next big bottom and plan to ride it until those alts and others make me another pile of money. What makes it so reliable? BTC wants to be near a certain moving average in a particular timeframe, when I see that set up I put a moderate pile of cash into Alts and ride the wave.
Below is my long term road map.
In closing (IFTTT) comes to mind again, so if you want to make a living trading, then you need to choose a trading style that is less monopolizing of your time and more profitable. If you are not disciplined then you will lose your money.
NOW, THE LEGEND;
So my charts are easier to understand I'm creating a legend, so here we go.
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are Black the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is Black
THE TREND: Going down still.
THE OUTLOOK: Unsafe to buy BTC but safe to buy top 10 marketcap alts as they dip further.
Be safe and follow me to make money and stay ahead of the curve.
My style is not to chase every trade set up, my style is to find extremely low-risk high reward setups. That is how you can make $100,000 in one year without giving it back in the next few weeks. Patience and discipline will land you the big fish 2 to 3 times a year. I previously bought BNB, LTC, NEO and ETH in January of this year and dumped them in June, that made me a lot of money, now I'm waiting for the next big bottom and plan to ride it until those alts and others make me another pile of money. What makes it so reliable? BTC wants to be near a certain moving average in a particular timeframe, when I see that set up I put a moderate pile of cash into Alts and ride the wave.
Below is my long term road map.
In closing (IFTTT) comes to mind again, so if you want to make a living trading, then you need to choose a trading style that is less monopolizing of your time and more profitable. If you are not disciplined then you will lose your money.
NOW, THE LEGEND;
So my charts are easier to understand I'm creating a legend, so here we go.
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are Black the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is Black
THE TREND: Going down still.
THE OUTLOOK: Unsafe to buy BTC but safe to buy top 10 marketcap alts as they dip further.
Be safe and follow me to make money and stay ahead of the curve.
Comment:
How I will make most of my 2020 money is by buying LTC close to or around $20
Comment:
BTW Once again target was reached.
