A lesson from Tesla's Bitcoin position..!These days everyone talks about Tesla closing 75% of its bitcoin position.
Let's evaluate it and see if there is anything that we can learn from it:
1- A Perfect Entry: according to Tesla's earnings call average entry price was $31,620..! Considering 27829 was the lowest price of 2021 and bitcoin traded only 22 days below Tesla's average.
2- Missing opportunity to realize +100% gain in less than 1 year, Twice..!
3- Closing below Entry with 170 million USD loss: Tesla sold $936 million worth of Bitcoin at the price of $28,888!
As you can see to be successful in Trading or Investing you need a perfect entry and exit strategy, but you should not forget that your gains are not yours unless you realize it!
As you can see Tesla had the chance to make a 1.7 Billion USD profit in 2021, but they lost that opportunity and shareholders should pay for Elon's 1.5 Billion USD gamble..!
Education:
Minimal requirements for a good effective trading/Investing system:
1- Entry Criteria
2- Exit Criteria: Target, Stop Loss
3- Profit protection Plan: Trailing Stop loss
The last one is very important because you should never let a winning trade turn into a loser one..!
If your trading setup lacks any of the above-mentioned requirements, you will lose money even if you are Elon Musk..!
Best
BVOL24H trade ideas
July 2022..!I think looking at the following trade setups needs no explanation:
July 2nd:
July 14th:
July 21: Are pinned to the chart
BTC: first 2 trades closed with 12.34% and 6% profit and the last trade is in 9% profit so far..! Stop loss updated to entry for risk-free trade!
#ETH: first 2 trades closed with 17% and 9.5% profit and the last trade is in 9% profit so far..! Stop loss updated to entry for risk-free trade!
Best,
another bearish BTC prediction based on R.Wyckoff distribution PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching.
BC—buying climax, during which there are often marked increases in volume and price spread. The force of buying reaches a climax, with heavy or urgent buying by the public being filled by professional interests at prices near a top. A BC often coincides with a great earnings report or other good news, since the large operators require huge demand from the public to sell their shares without depressing the stock price.
AR—automatic reaction. With intense buying substantially diminished after the BC and heavy supply continuing, an AR takes place. The low of this selloff helps define the lower boundary of the distribution TR.
ST—secondary test, in which price revisits the area of the BC to test the demand/supply balance at these price levels. For a top to be confirmed, supply must outweigh demand; volume and spread should thus decrease as price approaches the resistance area of the BC. An ST may take the form of an upthrust (UT), in which price moves above the resistance represented by the BC and possibly other STs before quickly reversing to close below resistance. After a UT, price often tests the lower boundary of the TR.
SOW—sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume. The AR and the initial SOW(s) indicate a change of character in the price action of the stock: supply is now dominant.
LPSY—last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the last waves of large operators’ distribution before markdown begins in earnest.
UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts, a UTAD is not a required structural element: CR - school.stockcharts.com
Bitcoin continues to bear marketHi, good day. Digital currency markets are still involved in corrective patterns. Note that an upward or downward trend is formed from a corrective trend, but you have to wait and see what action the market will take, which depends on investors' emotions, etc. And it bears the target of the market with the structure that it has presented until today, the bear market will continue (good luck and follow the market patiently).
BTC returned to the parallel channelBitcoin XBT has returned back to the parallel ascending channel. MACD and RSI are supporting this downtrend.
Trading zones to watch is: the middle of the channel at 21.7k and the channel's low line at 20k.
Considering recent bearish news it is most likely we are going to 20k again.
The BTC longs bubble.BTC longs have went parabolic while BTC has been dropping through 2022.
The longs chart is now starting to resemble something like a bubble chart. Just for fun, and as an experiment, here's a forecast of what it would look like if BTC longs were to continue to make a bubble like chart and complete in at the typical reversal areas of at (Or somewhere just over) the 423 fib.
To draw the fibs here we're using a method similar to the ones that picked out the current high in SPX drawing fibs from the previous big range (2000 - 2008 crashes).
BTC 2022 OOFThe market cap has been lower the 1B again
this show how much the market is scared and very dangerous at the moment.
Nothing is stable but anything can turn off the tables and make a miracle for a short while !
Look with me very carefully the chart I've made and you can work with it what is left this year.
Never go leverage and trade what you can afforded to lose and hold.
we can gain very big profits after the heeling and strong hands can get big after time!
GL !
This my last update for BTC until something happens
BTC SHORTS: a tool to approximate BTC key levels & directionBTC shorts shows that it has approximately 63% more to drop to key support. That may take BTC at least to the 28-33k level from current 20/21k before the shorts bring in a bigger correction sometime in August2022.
I do this as a hobby & not for trading advice.