These are the days we look for, Massive DISCOUNTED Markets.
Or ones that have just EXTENDED themselves too FAR too FAST!
Either way a lot of MONEY has switched hands today in this market.
No doubt we are looking to capitalize on the situation and will be adding to our Bitcoin exposure during this selloff.
Our Identified levels from the Chart posted on...
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Having proved great support in our green zone on the way down, the way looks clear for BTCUSD to continue its bull run for new price discovery much higher.
BTC USD Has been on a monster run since the new year and 2021 looks like thing will continue that way. BTC/USD has plenty of room higher.
We prefer to add to our positions on pullbacks ideally our purple...
The chart here shows entire price movements of BTCUSD.
The first rally took 731 days to complete and returned a 51,588% increase in price.
The second rally took 45% more time to complete, over the course of 1065 days,returned a 12804% price increase. A reduction in percentage price increase of around 4x compared to the first rally.
Projecting the third...
I am left rather confused about this pair in regards to direction. I would like to think the massive sell-off stopped out the majority of support buying but there is always a possibility that price may come down again to tackle the previous low marked.
I am more bearish bias than long but I have marked out both targets for those who are interested.
Here was a simple breakout trade
2 trendlines, a retest on the upper trendline - red candle
Enter on next green candle and ride up
If we can close this hour candle or 4HR candle above the blue/black box at 27.8-28K, would give bullish indication to push on above to the ATH's made in the night
The long wicks below recent hour candles means buyers are picking up BTC...
You know what to do.
I would only say it's valid when the top of the line is broken.
Then enter around zone at for best entries and good RR.
It's RISKIER than my previous fractal because the structure is premature.
I made it as elementary as possible. Hope this works out and I'll be updating it when things change/go according to plan.
The way we get over losses is to talk about them and learn about them, this is the same in trading and everyday life! Bottling up anything is not good at all, so lets talk about it! Comment below what is the most you have lost trading, this can be in 1 trade or an account you have blown.
My biggest loss was around 10k when i 1st started trading (this was the size...
A long term forecast for Bitcoin going into 2021.
I am counting the third wave to be in the region of 33k - 38k USD. An extended third could possibly go in higher but I won't entertain it just now as it's anyone's guess.
In accordance to Elliott Wave theory, the third wave is typically the most impulsive so it is possible that we achieve this level...