BTCUSD Trading Idea going into 2020
Personal outlook - Not investment advice, serves as a note to keep track.
This is focused on optimizing the process of dollar cost averaging into Bitcoin. The initial buy in (~15%) to be placed at the 50 week moving average expected in November. The second buy (~20%) to be placed at the long time support around 5900 which may coincide with the 200 week moving average coming up by January 2020. If this strong support breaks (unlikely) add %25 around 4500-5000 if the MACD is signaling a cross (April 2020). As this is now fairly well positioned for the long term, only add ~10% more whenever a correction above 25% occurs, preferably in August or November 2020.
Closing Strategy: DAI
This is focused on optimizing the process of dollar cost averaging into Bitcoin. The initial buy in (~15%) to be placed at the 50 week moving average expected in November. The second buy (~20%) to be placed at the long time support around 5900 which may coincide with the 200 week moving average coming up by January 2020. If this strong support breaks (unlikely) add %25 around 4500-5000 if the MACD is signaling a cross (April 2020). As this is now fairly well positioned for the long term, only add ~10% more whenever a correction above 25% occurs, preferably in August or November 2020.
Closing Strategy: DAI
Note
Corona lows magically timed with the proposed levels. Early outbreak related to recent OCC announcement regarding national bank crypto custody.
Retracement to 8000 levels is possible, but getting less likely with the increasingly capital bullish world.
Note
I could see BTC reaching 45-50k in February, but a significant pullback is expected within the next months.Even if Tether explodes, I don't see BTC below 21k ever again.
Note
New Target for July: 75k BTC
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.