Few days ago I gave you an update in the group that if you were long, $9200 & $9400 are the price level to possibly secure your profits. But if you were to open short, $9400-$9500 is the best price to short. Unfortunately the short opportunity was missed but it's fine as we didn't lose any money. You don't need to catch every market move.
The above chart is similar to the one in my previous analysis. Not surprisingly the first bounce was rejected @ $9,200 in which the drop to $7,700 ensued. If you are swing trading, you should still wait for the bounce to happen @ $7,700 to retest the immediate resistance @ $8470 and a retrace to around $8,000 to see if the drop can start to slow down (the yellow box). That will be a good place to enter long as you know there are buyers buying into the important support. Plus, you then have a good reference point to set your stop loss.
Previously, I provided you with a few trades on different timeframe (1hr, daily & long term investment). The 1hr and daily trades were already closed with profits whereas the long term investments I have personally closed 30% of those positions near $10,000. Now, I am going to re-enter my investment positions using the 30% that I sold few weeks back.
One thing to keep in mind is that if Bitcoin violates $6,500, then sub $5k is likely. I certainly am not predicting whether Bitcoin will drop to $5k or not, I am just saying if it does drop to $5k I am ready to invest more. If you still remember, I still have 50% capitals waiting to buy the sub $5k.
Always remember to risk manage and money manage your positions and most importantly, support me with LIKES and COMMENTS :) Thank you!
Past analysis (click & play):
Bitcoin, perfect call (300% profits)
Bitcoin, bought between $6.8k - $7.3k (40% profits)
Perfect call on $12k weekly resistance
Bitcoin dropped from 12k to 7k as expected (40% fall)
Bitcoin dropped to $3.5k as expected (40% fall)
Bitcoin, bought $6220 target $8480 (36% profits)
Perfect re-bought target
Education posts:
2618 trade
Top-down analysis
The above chart is similar to the one in my previous analysis. Not surprisingly the first bounce was rejected @ $9,200 in which the drop to $7,700 ensued. If you are swing trading, you should still wait for the bounce to happen @ $7,700 to retest the immediate resistance @ $8470 and a retrace to around $8,000 to see if the drop can start to slow down (the yellow box). That will be a good place to enter long as you know there are buyers buying into the important support. Plus, you then have a good reference point to set your stop loss.
Previously, I provided you with a few trades on different timeframe (1hr, daily & long term investment). The 1hr and daily trades were already closed with profits whereas the long term investments I have personally closed 30% of those positions near $10,000. Now, I am going to re-enter my investment positions using the 30% that I sold few weeks back.
One thing to keep in mind is that if Bitcoin violates $6,500, then sub $5k is likely. I certainly am not predicting whether Bitcoin will drop to $5k or not, I am just saying if it does drop to $5k I am ready to invest more. If you still remember, I still have 50% capitals waiting to buy the sub $5k.
Always remember to risk manage and money manage your positions and most importantly, support me with LIKES and COMMENTS :) Thank you!
Past analysis (click & play):
Bitcoin, perfect call (300% profits)
Bitcoin, bought between $6.8k - $7.3k (40% profits)
Perfect call on $12k weekly resistance
Bitcoin dropped from 12k to 7k as expected (40% fall)
Bitcoin dropped to $3.5k as expected (40% fall)
Bitcoin, bought $6220 target $8480 (36% profits)
Perfect re-bought target
Education posts:
2618 trade
Top-down analysis
You want to see if there are buyers stepping in first. (unless you are investing or dollar-cost averaging).
Now, just wait for market to give us more clues. We don't lose anything by waiting.