BITCOIN - Price Action & Trading Strategy With Alts & Bitcoin.
NOT MONERO... THIS IS DISCUSSION OF MULTIPLE COINS.
Unfortunately, I had Monero chart on the far right clicked instead of Bitcoin. Which caused the TradingView platform to label this a Monero publication. This is NOT a Monero publication. This is a discussion on trading strategy for Bitcoin AND Altcoins; but mainly Altcoins that are traded in both USD -AND- Bitcoin.
First off, please feel free to share your thoughts on what you've heard and seen in this video. There may be something I haven't considered or did consider but forgot to elaborate on it due to time constraints. Many on YouTube, TradingView Cryptocurrency Chat Room, Twitter, etc... are saying, "Alt season is about to begin." HOWEVER, it may not begin the way some are thinking. Many may grow impatient as they see BItcoin/USD going up in USD value while their Altcoin is remaining flat in USD value and their Altcoin is also going DOWN in Bitcoin value. Many may get liquidated while trading Altcoin/Bitcoin pairs with leverage; because they assume their Altcoin/Bitcoin pair is going to go up. It simply may not go up at the particular time they want it to go up.
Keep in mind... The ONLY Altcoins I'm referring to in this publication are those which are traded in BOTH USD -AND- Bitcoin. I'm NOT referring to Altcoins that are traded ONLY in Bitcoin.
#1 - Expecting Altcoin/USD pairs to fall WITH Bitcoin/USD over the next several days. Don't be alarmed... Anticipate higher lows for Altcoin/USD pairs.
#2 - Expecting Altcoin/USD pairs and Bitcoin/USD to come up together near CURRENT price level at a very similar percentage.
#3 - Once Altcoin/USD pairs and Bitcoin/USD all get back to similar price levels to where we have just fallen from, we can anticipate Altcoin/USD pairs to remain flat (sideways)
While Bitcoin/USD begins going up.
#4 - Altcoin/BTC pairs will begin falling as Bitcoin/USD goes up and Altcoin/USD pairs remain flat. This is where I would want you to sell 20 to 30 percent of your Altcoin(s) for
Bitcoin along with the whales. At this point your Bitcoin you obtained by selling some of your Altcoin for those Bitcoins SHOULD be going up in USD value WHILE your Altcoin(s)
are remaining flat in USD value.
#5 - You were still holding on to 70 to 80 percent of your Altcoins you bought at a nice low price while selling the other 20 to 30 percent for Bitcoin by simply trading your Altcoin
for Bitcoin just before the Altcoin/Bitcoin pair(s) begin to drop in BTC value.
#6 - Once Bitcoin reaches $11,700, we should begin to have a close look at the indicators to see WHEN Bitcoin/USD will have a correction after hitting resistance. That resistance
may be around $13,800. Once Bitcoin/USD encounters heavy resistance to have a shakeout before continuing up to test All Time High by year end, we may want to consider
using that Bitcoin to buy back Altcoins at a lower BTC price on the Altcoin/Bitcoin pair(s). This way, you will have accumulated more Altcoin(s).
#7 - Once you bought back your Altcoin(s) with your Bitcoins at a lower BTC price, you will have accumulated more Altcoin(s) -AND- THAT is when the Altcoin is likely to go up
in both USD value -AND- BTC value. It may go up MORE in BTC value (percentage wise) than it does in USD value at that point.
#8 - Bitcoin/USD will eventually complete it's correction AFTER the Altcoin/USD pairs have legged up to a new higher trading range after a rather long period of sideways price action.
Which means Bitcoin/USD will resume going up to test All Time High after that correction that may begin at $13,800.
#9 - Anticipate Altcoin/USD pairs to a little more than double their lows in a similar fashion as Bitcoin/USD. This puts Bitcoin/USD testing All Time High by year end. However, this
does NOT put Altcoin/USD pairs testing their All Time High by year end. Altcoin/USD pairs will not test their All Time High until later in 2020. Possibly the June of 2020.
10 - Be prepared to sell some Altcoin(s) and/or Bitcoin at or near their high near year end of 2019 to setup buying back in at a lower price in early 2020. However, PLEASE consider
keeping a significant amount (At least 50%) of your coins OFF exchange in cold storage during this time while using the remainder to make the previously mentioned trades.
Please feel free to comment, like and subscribe (follow).
Stay Awesome!
David
Unfortunately, I had Monero chart on the far right clicked instead of Bitcoin. Which caused the TradingView platform to label this a Monero publication. This is NOT a Monero publication. This is a discussion on trading strategy for Bitcoin AND Altcoins; but mainly Altcoins that are traded in both USD -AND- Bitcoin.
First off, please feel free to share your thoughts on what you've heard and seen in this video. There may be something I haven't considered or did consider but forgot to elaborate on it due to time constraints. Many on YouTube, TradingView Cryptocurrency Chat Room, Twitter, etc... are saying, "Alt season is about to begin." HOWEVER, it may not begin the way some are thinking. Many may grow impatient as they see BItcoin/USD going up in USD value while their Altcoin is remaining flat in USD value and their Altcoin is also going DOWN in Bitcoin value. Many may get liquidated while trading Altcoin/Bitcoin pairs with leverage; because they assume their Altcoin/Bitcoin pair is going to go up. It simply may not go up at the particular time they want it to go up.
Keep in mind... The ONLY Altcoins I'm referring to in this publication are those which are traded in BOTH USD -AND- Bitcoin. I'm NOT referring to Altcoins that are traded ONLY in Bitcoin.
#1 - Expecting Altcoin/USD pairs to fall WITH Bitcoin/USD over the next several days. Don't be alarmed... Anticipate higher lows for Altcoin/USD pairs.
#2 - Expecting Altcoin/USD pairs and Bitcoin/USD to come up together near CURRENT price level at a very similar percentage.
#3 - Once Altcoin/USD pairs and Bitcoin/USD all get back to similar price levels to where we have just fallen from, we can anticipate Altcoin/USD pairs to remain flat (sideways)
While Bitcoin/USD begins going up.
#4 - Altcoin/BTC pairs will begin falling as Bitcoin/USD goes up and Altcoin/USD pairs remain flat. This is where I would want you to sell 20 to 30 percent of your Altcoin(s) for
Bitcoin along with the whales. At this point your Bitcoin you obtained by selling some of your Altcoin for those Bitcoins SHOULD be going up in USD value WHILE your Altcoin(s)
are remaining flat in USD value.
#5 - You were still holding on to 70 to 80 percent of your Altcoins you bought at a nice low price while selling the other 20 to 30 percent for Bitcoin by simply trading your Altcoin
for Bitcoin just before the Altcoin/Bitcoin pair(s) begin to drop in BTC value.
#6 - Once Bitcoin reaches $11,700, we should begin to have a close look at the indicators to see WHEN Bitcoin/USD will have a correction after hitting resistance. That resistance
may be around $13,800. Once Bitcoin/USD encounters heavy resistance to have a shakeout before continuing up to test All Time High by year end, we may want to consider
using that Bitcoin to buy back Altcoins at a lower BTC price on the Altcoin/Bitcoin pair(s). This way, you will have accumulated more Altcoin(s).
#7 - Once you bought back your Altcoin(s) with your Bitcoins at a lower BTC price, you will have accumulated more Altcoin(s) -AND- THAT is when the Altcoin is likely to go up
in both USD value -AND- BTC value. It may go up MORE in BTC value (percentage wise) than it does in USD value at that point.
#8 - Bitcoin/USD will eventually complete it's correction AFTER the Altcoin/USD pairs have legged up to a new higher trading range after a rather long period of sideways price action.
Which means Bitcoin/USD will resume going up to test All Time High after that correction that may begin at $13,800.
#9 - Anticipate Altcoin/USD pairs to a little more than double their lows in a similar fashion as Bitcoin/USD. This puts Bitcoin/USD testing All Time High by year end. However, this
does NOT put Altcoin/USD pairs testing their All Time High by year end. Altcoin/USD pairs will not test their All Time High until later in 2020. Possibly the June of 2020.
10 - Be prepared to sell some Altcoin(s) and/or Bitcoin at or near their high near year end of 2019 to setup buying back in at a lower price in early 2020. However, PLEASE consider
keeping a significant amount (At least 50%) of your coins OFF exchange in cold storage during this time while using the remainder to make the previously mentioned trades.
Please feel free to comment, like and subscribe (follow).
Stay Awesome!
David
Comment:
You may want to consider copying and pasting the above events into a WORD document to print out. You can check off and/or edit each event as it plays out to help you follow and understand it better.
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