Dear Traders,
Here's the plan. Buy when the histogram starts to touch the line. The opening is going to be really small so try to get it as pinpoint accurate as possible. I can't pinpoint the price but I estimate 5.7k to 5.2k. If we go sub 5k then the deal is off. Also, take tight profits. 7k to 7.5k should suffice, we are in a bear market and we can't afford to be a greedy bull.
Also, kudos if you have shorted the way downward. But its the time to close shorts is coming up soonish. Close shorts around 6.3k to 6k. That support can cause huge bounces.
Alot of people are resentful and frustrated over crypto as a whole and start calling words like "manipulation, wash-trading, money laundering, pump-and-dump, etc." Best to ignore these. The hype surrounding crypto has gone sour but let's just focus on the task at hand. Another reason to not get greedy on longs.
This chart also reflects what i think is going to happen in the long run for this year. We'll go to approx 3.6k and hit the mean. This is possibly the maximum amount of despair and the maximum point of profit to start investing in an asset that can become a multi-trillion industry.
If we do go below 3k that's going to require a plan B. But not to worry on that right now while the future is still quite uncertain.
Here's the plan. Buy when the histogram starts to touch the line. The opening is going to be really small so try to get it as pinpoint accurate as possible. I can't pinpoint the price but I estimate 5.7k to 5.2k. If we go sub 5k then the deal is off. Also, take tight profits. 7k to 7.5k should suffice, we are in a bear market and we can't afford to be a greedy bull.
Also, kudos if you have shorted the way downward. But its the time to close shorts is coming up soonish. Close shorts around 6.3k to 6k. That support can cause huge bounces.
Alot of people are resentful and frustrated over crypto as a whole and start calling words like "manipulation, wash-trading, money laundering, pump-and-dump, etc." Best to ignore these. The hype surrounding crypto has gone sour but let's just focus on the task at hand. Another reason to not get greedy on longs.
This chart also reflects what i think is going to happen in the long run for this year. We'll go to approx 3.6k and hit the mean. This is possibly the maximum amount of despair and the maximum point of profit to start investing in an asset that can become a multi-trillion industry.
If we do go below 3k that's going to require a plan B. But not to worry on that right now while the future is still quite uncertain.
Note
Keep at it ! We won't see a huge spring until we go sub 6. everything else is just noise.Note
Closed shorts around 6.8. The market is becoming bullish once more. still.. be wary to take profits around the upper resistance at 7.8.
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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.