My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks, crypto, options and indices🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Bitcoin.
Looking at the chart of Bitcoin you can see that just 8 months ago Bitcoin perfectly retested the previous cycle high of 2018 at the $18.000 level and rejected towards the upside.
I think that the whole crypto market but especially Bitcoin is ready for a new bullish cycle and after another short term drop on Bitcoin I do expect a longer term bullish continuation.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Bitcoin.
Looking at the chart of Bitcoin you can see that just 8 months ago Bitcoin perfectly retested the previous cycle high of 2018 at the $18.000 level and rejected towards the upside.
I think that the whole crypto market but especially Bitcoin is ready for a new bullish cycle and after another short term drop on Bitcoin I do expect a longer term bullish continuation.
- - - - - - - - - - - - - - - - - - - -
I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
Comment:
New Update:
In the beginning of 2023 Bitcoin perfectly retested the previous cycle high of 2018 and already perfectly rejected this key structure level towards the upside. Since we had a cross support at the $17.000 level, there is a very low chance of Bitcoin breaking below this level at all.
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Most of the people always follow the quick money. But the quick money is never the big money.
They think that making 5% a month consistently is reasonable, which is one of the reasons why so many traders fail.
The only think which you can control is your risk, everything else is unknown.
Keep your long term vision!
In the beginning of 2023 Bitcoin perfectly retested the previous cycle high of 2018 and already perfectly rejected this key structure level towards the upside. Since we had a cross support at the $17.000 level, there is a very low chance of Bitcoin breaking below this level at all.
-------------------------------------------------------------------
Most of the people always follow the quick money. But the quick money is never the big money.
They think that making 5% a month consistently is reasonable, which is one of the reasons why so many traders fail.
The only think which you can control is your risk, everything else is unknown.
Keep your long term vision!
Not a lot has changed on Bitcoin during September but I still think that we will see further upside going into 2024.
Even if we see another drop lower, this will not be a bad scenario since we still have major support at the psychological $16.000 level.
- - - - - - - - - - - - - - - - - - - -
I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡