BTC- How to accumulate more
Hello,
Strategy
I have shown my trades on #BTC since the drop in May. Since then BTC has been ranging well.
The way I accumulate more is selling a partial amount at each resistance and waiting for the price to drop back to support to invest what I have taken out.
On the 29th May, I bought at support after taking profits during the drop and sold on the 15th June for a 20% gain. This is just one example if you look across the chart you can see other times that I bought and sold.
I have a pending sell order at 59k with the idea of buying back at 50k.
What happens if it goes wrong?
Obviously this doesn't always go to plan, however if the price does move up after selling, I never #FOMO back in, I wait for the old resistance/new support to be tested before adding the 33% back in at the same area for a breakeven % trade.
This means we can protect our capital while accumulating a bigger bag.
Give this post a thumbs up if this helped :)
Strategy
I have shown my trades on #BTC since the drop in May. Since then BTC has been ranging well.
The way I accumulate more is selling a partial amount at each resistance and waiting for the price to drop back to support to invest what I have taken out.
On the 29th May, I bought at support after taking profits during the drop and sold on the 15th June for a 20% gain. This is just one example if you look across the chart you can see other times that I bought and sold.
I have a pending sell order at 59k with the idea of buying back at 50k.
What happens if it goes wrong?
Obviously this doesn't always go to plan, however if the price does move up after selling, I never #FOMO back in, I wait for the old resistance/new support to be tested before adding the 33% back in at the same area for a breakeven % trade.
This means we can protect our capital while accumulating a bigger bag.
Give this post a thumbs up if this helped :)
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