BTCUSD 8h mid-term plan: buy the dips, take profits above 14k
Technicals:
post-halving value increase
fiat keeps depreciating due to continues stimulus influxes
nowhere to go for investors who wish to take money of stocks/bonds but to gold (which will spill into bitcoin inevitably)
ETH 2.0 will be released, that will too spill into BTC action
any positive news related to pandemic (vaccine, etc.) will be inevitably positive for bitcoin (all the stocks will be already pretty high, nowhere to go but cryptocurrencies)
Our plan is simple
Buy all the dips. (touch of your favorite MA, lower Bollinger band, etc)
Allow more room than usual, and more risk than usual for stop losses. (10% of capital per trade, double the risk, keep pyramiding)
specifically today - buy in 11.2-10.6k range. significant drop below 10.5k invalidates the idea
break above 12.3k validates the idea - here we increase our risk, place one and only stop loss at 10.5k, and let the profits run (no trailing stops) - we will consider exiting the trade, when there is a reversal signal (cross of EMA 10 and SMA 50 for example)
***not giving any advice - this is simply what I plan to do myself. i am responsible only for my own losses.
- Bitcoin price action broke through the down-trend line (drawn from ATH to 2nd LH)
Large sell orders were filled at 12000 and triggered the dip
10588 resistance held two times, confirming positive outlook short-term
post-halving value increase
fiat keeps depreciating due to continues stimulus influxes
nowhere to go for investors who wish to take money of stocks/bonds but to gold (which will spill into bitcoin inevitably)
ETH 2.0 will be released, that will too spill into BTC action
any positive news related to pandemic (vaccine, etc.) will be inevitably positive for bitcoin (all the stocks will be already pretty high, nowhere to go but cryptocurrencies)
Our plan is simple
Buy all the dips. (touch of your favorite MA, lower Bollinger band, etc)
Allow more room than usual, and more risk than usual for stop losses. (10% of capital per trade, double the risk, keep pyramiding)
specifically today - buy in 11.2-10.6k range. significant drop below 10.5k invalidates the idea
break above 12.3k validates the idea - here we increase our risk, place one and only stop loss at 10.5k, and let the profits run (no trailing stops) - we will consider exiting the trade, when there is a reversal signal (cross of EMA 10 and SMA 50 for example)
***not giving any advice - this is simply what I plan to do myself. i am responsible only for my own losses.
