Bitcoin maxed out, how to time your long exit and short entry
Updated
Bitcoin is done moving higher, time for the rest discussed on a couple of my previous posts. But timing entries and exits is critical in order to know when your trade is broken. There is a narrative in the intra-day price action which moves in a series of 7 steps per price cycle, Knowing the rules of each price cycle is critical so you can judge when your assumptions did not line up with reality. I have developed a price cycle model reminiscent of Wyckoff's modeling but a little more specific to crypto and with some specific structure to it. You can see these price cycles all through different time frames. We are at the first stage of step 5, we will likely break above $5600 momentarily making our absolute high point for this price cycle, then we are in for a rough ride for a few weeks before the bull finds its confirmed bottom and we begin the most exciting bull run in crypto history!
Clarity is power
-JA-
***This info is not a recommendation to buy or sell. It is to be used for educational purposes only. Make logical sound decisions for yourself by risking only what you’re willing to lose. It’s on you. ***
Clarity is power
-JA-
***This info is not a recommendation to buy or sell. It is to be used for educational purposes only. Make logical sound decisions for yourself by risking only what you’re willing to lose. It’s on you. ***
Note
ahead of schedule Note
The price cycle has progressed a little faster than I had originally drawn it but pattern performing to expectation. Pt 7 of 7 now. Note
The problem with our default mindset is we expect ourselves to be right all the time, and we LOVE to predict, why? Because it makes us feel amazing when it turns our right! Right? So we bind our ego to our opinion. In trading we can afford none of these things. Its not about being right or wrong, we should never listen to anyone's long-term predictions. Trade what you see in front of you. Have an exit strategy before you trade. Know you will lose some and win some, and the game is about having a stranglehold on losing trades and letting winning trades run with targets in place. So back to the chart... here is our updated (cautiously bullish) analysis.
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