alanmasters
Long

[BTCUSD] Bitcoin - The KING - Long Term Trade [200%+ PP]

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN ( BTCUSD ). This is the first time I will be sharing a long term trade for Bitcoin ; it feels really good.

I will analyze it as any other chart and I expect we profit massively from it. This will be an easy trade. Namaste.


Bitcoin (BTCUSD-COINBASE) Weekly Chart Analysis:

  • Let's start with the Bitcoin rally/bull run. ATH , retrace, support and continue to the indicators for a trade.

  • We look at the chart from left to right. You can see the date marked at the bottom of the chart.

  • Bitcoin starts its bull run late October/November, according to the chart above. The price increased from $5511.11 on November, all the way up to $19891.99 on December 2017, hitting its all time high and then starts the decline.

  • Bitcoin starts to retrace massively and hits a low point on February at $6000 per Bitcoin . This price was the resistance that was broken to start Bitcoin's bull run, now it is working as support. (This is marked on the chart with a yellow square).

  • After a corrective wave up, Bitcoin continued retracing but always maintaining the same support. In the meantime, volume decreased and our indicators started to show us that Bitcoin has been oversold.

  • Bitcoin has shredded over 70% of its price from its all time high.

  • Since we've established a very strong support, we can open a long term trade for Bitcoin with moderate risk and very high profits potential.

  • Just like we are seeing with the altcoins, you can expect Bitcoin to hover around the 2017 strong support for a while, maybe break below it, to quickly come back up and start a new wave up/bull run. There is also a chance that the "strong support" does not break and Bitcoin moves up from here ($6000+ range).

  • Let's take a look. Let's look at the KING of cryptorrency - BITCOIN - long term...

LET'S TRADE!!!


Bitcoin ( BTCUSD ) Long Trade by Alan Masters

Buy in:

(1) $6330 - $6500
(2) $5950 - $6100

Targets for Bitcoin ( BTCUSD ):

Short term:

(1) $6650
(2) $6750
(3) $6828
(4) $7150
(5) $7400

Mid term:

(1) $8000
(2) $8500
(3) $9100
(4) $9900

Long term:

(1) $11111
(2) $12500
(3) $14000
(4) $15250
(5) $16666
(6) $20000

Stop loss:

(1) Close below $5900 on the daily candle.
(2) Close below $5700 on the weekly candle (strong / long term).

Capital allocation: <50%.



HOW TO BE KING

Desire. Training. Nature. Spirit. Time.

This is how I became King.

First comes the desire.

The desire will drive you to train.

You will trained for what it seems to last forever.

You will be trained together with nature...
Following all of her laws, you will be able to accomplish your desires.

Nature will lift your Spirit.

Your light will start to shine...

And with time it will shine brighter... and brighter it gets...

You will become KING.

The King of BITCOIN .

Namaste.
Trade active
Trade active: Bitcoin long term bull (Monthly chart):
Trade active: Shorts have fallen by 40% in less than 1 month. Another bullish long term signal:
Trade active: We are now above buy in range. We aim for our first target.

Targets for Bitcoin (BTCUSD):

Short term:

(1) $6650 - Next target.
Comment: Our stop loss is now active.

We wait for the weekly candle to close. If price closes below $5700, we close this trade.

If the candle closes above this price, trade remains active.

Patience is key.

Thanks a lot for the support.

Namaste.
Trade closed: stop reached: Trade closed, stop loss hit.
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Related Ideas

It’s ok you’re often wrong! People already know that!)
Reply
God bless u alan
Reply
Alan, I believe a massive dump is necessary for BTC in order to start a new bull run.
Reply
It seems we met stop loss :( which is a bad sign for this year.
Reply
Hi, Alanamasters!

At the beggining of the month you mentioned several time 22 Octomber. It's coming and you're still bullish. So I'm looking forward impatiently :)

"Up to the 22nd October for massive bullish action, a change of trend.

This is based on the analysis above. My perspective can change as the market changes."
+1 Reply
@KSeimenov, Yes, I am looking forward to it as well. We will see how it goes after this week ends.
Reply
alanmasters Crypto-Adviser
@Crypto-Adviser, I like your view.
Reply
cant agree with you on this one...i see a small bounce from here (~6600usdt) , then back down to major support at 62xx...from there, who knows...considering the manipulation going on in this market, i just dont see a major move up coming before a major move down...still like a lot of your calls though
Reply
DrunkLife DrunkLife
@DrunkLife, sadly you have to specify usdt price these days
Reply
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