This is another post up by Crypto Gavin. Hope you are all doing well, cause Bitcoin is. If you haven't seen my first post with the next many months worth of predictions in it you need to go back and check that out and look at the difference between then and now with the graphs.
I have removed a lot of the text bubbles as we all know what exactly they are. They are the time markers corresponding to the key dates in 2017's bull run and bubble pop. As you can see we bottomed our downward trend just before Christmas, and as of the 5th of January (which would mark the confirmation of the bubble pop in 2018) has signified the strength that i have been looking for in this market for quite some time now. And look at what we have had, 3-4 days worth of Solid Green Candles launching Bitcoin from the $6750 all the way to the top of $8450!
I had my longs in and i hope you did too. Trust me 3x-5x leverage is plenty when you consider the gains you see overall. DONT OVER-LEVERAGE YOURSELF AND GET STOPPED OUT EARLY OR WORSE... LIQUIDATED.
The Trend is your friend until the end. My Trends have been i would say damn near perfect for 6 months straight. Drops down to the $8050 mark which would be the low end of support that we would like to see and that hold strong and this trend is looking EXTREMELY .
Drops down to the $7750-$7950 range would indicate some weakness in the and market overall as it would show almost all purchases and trades are being done by HFT bots.
Seeing that we are sticking above the $8300 range for now is holding very nicely but do note that our is overextended now sitting at around the 79-80 mark, 70 indicating overbought.
What i would like to see is this trend cool off a slight bit, give the a chance to come back down into a neutral level while going sideways for a while allowing any profits to be taken by bigger investors plus new orders or dollar cost averaged orders to be filled before a next leg up. I have 3 long orders set from the $8050 mark to the $8300 mark to be filled if we do decide to dip that low that will give me a roughly 3.5x Leverage on the trade and a liquidation point at about -$4k below current market price.
Dont be left out riding that Short Position all the way to Liquidation Town next to whiners-ville. Close it up and Put that Long in because we are in for the next Bull Run!
I will attempt to get another post out every week to keep an updated chart going for you guys.
All the Best,
(Remember all of these statements are to be used as educational content and not to be used in any way shape or form as financial advice. I am not a financial advisor, although i do most likely know more about and cryptocurrency than your financial advisor haha)