The Analysis :
Right now we are witnessing BTC doing again the double correction structure waves WXY. This correction is healthy.
Many TA guys and other financial analysts in the crypto space are really scared of the current moves. Their point of view is that if BTC breaks the 3800 area, we are likely to see a new bottom. It is possible and I am not saying this a completely impossible scenario. But in this case the whole Elliot Waves structure would need to be changed.
Our play :
Previously we accumulated BTC with a leverage going between x5 to x10. We put our orders starting from mid January by laddering them between the 3250 and 3450. Most of them having been concentrated around the 3350 area. We closed half our positions when we touched 4180 on BITMEX.
Now, we are gonna accumulate again with the continuity of our previous investment idea. The accumulation points start at 3650 and go all the way down to 3500. If we break 3420 then we are likely to loose the uptrend momentum so we need to watch out and put our stop losses below this level.
We recommend a x5 leverage on this investment idea and we are looking forward to some good profits as we are holding a mid-long term position.
The chart above reflects this analysis and you can of course follow me and like this chart, you can also leave your questions in the comments and share this idea with fellow crypto-investors !
I will post another update as soon as we have more data and confirmation of the next moves.
Right now we are witnessing BTC doing again the double correction structure waves WXY. This correction is healthy.
Many TA guys and other financial analysts in the crypto space are really scared of the current moves. Their point of view is that if BTC breaks the 3800 area, we are likely to see a new bottom. It is possible and I am not saying this a completely impossible scenario. But in this case the whole Elliot Waves structure would need to be changed.
Our play :
Previously we accumulated BTC with a leverage going between x5 to x10. We put our orders starting from mid January by laddering them between the 3250 and 3450. Most of them having been concentrated around the 3350 area. We closed half our positions when we touched 4180 on BITMEX.
Now, we are gonna accumulate again with the continuity of our previous investment idea. The accumulation points start at 3650 and go all the way down to 3500. If we break 3420 then we are likely to loose the uptrend momentum so we need to watch out and put our stop losses below this level.
We recommend a x5 leverage on this investment idea and we are looking forward to some good profits as we are holding a mid-long term position.
The chart above reflects this analysis and you can of course follow me and like this chart, you can also leave your questions in the comments and share this idea with fellow crypto-investors !
I will post another update as soon as we have more data and confirmation of the next moves.