BTC beginning a large cup pattern and so far playing out. My analysis it's not going to hurt to create a strong base over the next 2.5 years. The idea that there is no way to go but up is not healthy. Not as a mindset or for BTC. Anyone that invests knows what bubbles look like and how dangerous they can be. Strong bases MUST form to create strong upward movement.
Same chart weekly view
Same chart daily view.
تم فتح الصفقة:
BTC showing strong support. I'm moving the projected low 13k area up to 23k. Still see some downside that I hope trickles down keeping a nice tight pattern. This is healthy before bulls come in and move the price up towards 40k eventually the 60k area. If enough momentum then BTC can advance in a healthy way towards 75-100K.
To me I'm not looking for a trip to the moon or any nonsense like this. This isn't investing. I'm looking for the cup handle portion to play out to make profits shorting on the pattern towards the low and then moving into a long position while working the way up on the right side of the cup. Of course this is all speculation and may/may not change as time goes by. I don't mind watching closely and making changes as the market tells me to.
To me I'm not looking for a trip to the moon or any nonsense like this. This isn't investing. I'm looking for the cup handle portion to play out to make profits shorting on the pattern towards the low and then moving into a long position while working the way up on the right side of the cup. Of course this is all speculation and may/may not change as time goes by. I don't mind watching closely and making changes as the market tells me to.
أغلقت الصفقة: تم الوصول لوقف الخسارة:
Haven't updated in awhile, after the market, stock, or a crypto behaves different than I predicted I stay in cash to evaluate what happened. My stop was hit and I was taken out automatically. Updating this position.
I thought the cup pattern would play out however support around 30K held up with a strong base.
I see a shorter upside for BTC then ETH at the moment so haven't got back into BTC.
I thought the cup pattern would play out however support around 30K held up with a strong base.
I see a shorter upside for BTC then ETH at the moment so haven't got back into BTC.
تعليق:
the cup pattern didn't hold up but the retracement is at this point. Accumulating while the base shapes up.