Happy Monday Tradrz,
Long-term plans.
There are a number of ways we can invest based on a long-term belief that BTC will continue to appreciate in value.
DYOR, find a technique that suits your personality, the last thing you want to do is fight your emotions AS WELL as fighting the chart.
Here are the historically accurate supports and resistances, based on Price action, current Fibonacci retracement/extensions, the "All-Time Fb" measured from $0 - $20k and Exponential Moving Averages.
February
The Feb breakout failed to get above the .618 - .786
April
The April breakout failed to get above the .618 - .786
June
Let's hope a June breakout can finally break pattern, get above $9200 and find long-term bullish support above the 50/55 moving average.
RSI breakout impending but more downside still possible first.
It is very possible that supply starts getting eaten up by institutional money soon, so I'm trying not to let this run away from me, the only way I can do that is to be contrarian and buy the sell-off (If it continues)
Noteworthy supports.
$5900
$5500
$5000
$4230
Price has fallen out of the Symmetrical Triangle that EVERYONE was watching, we seem to have failed the retest, indicating that this is not yet reversal, but simply bullish retracement within the longer-term bearish trend.
We must STILL get above the daily 50/55 moving average.
EMA's used:
9 20 55
I am personally buying the sell-off. If we hit $4300 my personal average will sit somewhere around $5-6k, if we hit $2k my average will be $3-4k. I do not want to trade like a retailer, I do not care to make 100%+ in a day. I simply want to be on the right side of the market WHEN it turns
Trade Safe.
Long-term plans.
There are a number of ways we can invest based on a long-term belief that BTC will continue to appreciate in value.
DYOR, find a technique that suits your personality, the last thing you want to do is fight your emotions AS WELL as fighting the chart.
Here are the historically accurate supports and resistances, based on Price action, current Fibonacci retracement/extensions, the "All-Time Fb" measured from $0 - $20k and Exponential Moving Averages.
February
The Feb breakout failed to get above the .618 - .786
April
The April breakout failed to get above the .618 - .786
June
Let's hope a June breakout can finally break pattern, get above $9200 and find long-term bullish support above the 50/55 moving average.
RSI breakout impending but more downside still possible first.
It is very possible that supply starts getting eaten up by institutional money soon, so I'm trying not to let this run away from me, the only way I can do that is to be contrarian and buy the sell-off (If it continues)
Noteworthy supports.
$5900
$5500
$5000
$4230
Price has fallen out of the Symmetrical Triangle that EVERYONE was watching, we seem to have failed the retest, indicating that this is not yet reversal, but simply bullish retracement within the longer-term bearish trend.
We must STILL get above the daily 50/55 moving average.
EMA's used:
9 20 55
I am personally buying the sell-off. If we hit $4300 my personal average will sit somewhere around $5-6k, if we hit $2k my average will be $3-4k. I do not want to trade like a retailer, I do not care to make 100%+ in a day. I simply want to be on the right side of the market WHEN it turns
Trade Safe.
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