Bitcoin_BTCUSD_How do you manage?_Shorterm/Longterm_Hodl.
Updated
Hello Fellow Hodlums! This post will outline my humane approach to investing in Bitcoin. Consider how much money you can afford to completely lose. Calculate rough percentages and follow my lead. Please read disclosure at the bottom of the post.
Technical perspective: 15,000 is our closest area to consider buying. Round numbers and Fib levels support us here. I will be buying 25% of what I feel comfortable losing at 15,000.
Next is 13,000. This level is rather substantial, as price has pivoted here before. I'll buy 25% and would not be surprised if price reverses here.
If by a Christmas miracle we get below 13, the 50% fib level is between 10,000 and 11,500. If price gets to this point, the 50% fib level probably will not hold. But I'll make another 20% buy at 11,500.
At 10,000 I will be one happy camper. It is very unlikely we ever see price below 10,000 again. I will put 25% to work in anticipation of not going lower.
In the depth of disaster, at 8900 when the community is in disarray and the complacent declare BTC a fraud, I will buy my last 10%.
With these super conservative entries exposed, let me say I believe in Bitcoin. I believe long term BTCUSD valuation is 50,000 or greater. However that valuation will take time! I believe it will require a modern acceptance of bitcoin both as a means of a purely free currency and a hold of value. Similar to how we treat Gold. There is no doubt the ways we do business in the next 10 years will be blockchain/bitcoin related.
But lets be honest traders, speculation has gotten the best of price recently. Short term there are way too many roadblocks to believe price will stay moving up. 1,000 individuals in this world hold 40% of BTC and they are certainly working together to hurt or help you. There will be buying opportunities as regulators crack down, hackers have their say and LEGAL manipulators lurk around every corner.
If there is only one thing I have learned about trading, its that BIG things take TIME. BTC has not had the time to fully digest the effects of higher prices/world acceptance.
Don't get me wrong, I do NOT believe this is a bubble in the practical sense that it will come crashing down and stay down. Every dip of this next generational technology is a buying opportunity when your swing trading or hodling.
If price rally's higher, which is more likely than any of my entries, you could consider buying at a break above the highs. But that is not my style of trading. I choose to wait for opportunities instead of jumping on the euphoria train. Each to their own!
Keep an eye out for my post explaining my experiences trading BTC & ETH.
Goodluck!
Like/Comment/Follow TElphee! – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember we are only discussing opinions. I’m very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View
Disclaimer: Bitfinex data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before investing.
Technical perspective: 15,000 is our closest area to consider buying. Round numbers and Fib levels support us here. I will be buying 25% of what I feel comfortable losing at 15,000.
Next is 13,000. This level is rather substantial, as price has pivoted here before. I'll buy 25% and would not be surprised if price reverses here.
If by a Christmas miracle we get below 13, the 50% fib level is between 10,000 and 11,500. If price gets to this point, the 50% fib level probably will not hold. But I'll make another 20% buy at 11,500.
At 10,000 I will be one happy camper. It is very unlikely we ever see price below 10,000 again. I will put 25% to work in anticipation of not going lower.
In the depth of disaster, at 8900 when the community is in disarray and the complacent declare BTC a fraud, I will buy my last 10%.
With these super conservative entries exposed, let me say I believe in Bitcoin. I believe long term BTCUSD valuation is 50,000 or greater. However that valuation will take time! I believe it will require a modern acceptance of bitcoin both as a means of a purely free currency and a hold of value. Similar to how we treat Gold. There is no doubt the ways we do business in the next 10 years will be blockchain/bitcoin related.
But lets be honest traders, speculation has gotten the best of price recently. Short term there are way too many roadblocks to believe price will stay moving up. 1,000 individuals in this world hold 40% of BTC and they are certainly working together to hurt or help you. There will be buying opportunities as regulators crack down, hackers have their say and LEGAL manipulators lurk around every corner.
If there is only one thing I have learned about trading, its that BIG things take TIME. BTC has not had the time to fully digest the effects of higher prices/world acceptance.
Don't get me wrong, I do NOT believe this is a bubble in the practical sense that it will come crashing down and stay down. Every dip of this next generational technology is a buying opportunity when your swing trading or hodling.
If price rally's higher, which is more likely than any of my entries, you could consider buying at a break above the highs. But that is not my style of trading. I choose to wait for opportunities instead of jumping on the euphoria train. Each to their own!
Keep an eye out for my post explaining my experiences trading BTC & ETH.
Goodluck!
Like/Comment/Follow TElphee! – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember we are only discussing opinions. I’m very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View
Disclaimer: Bitfinex data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before investing.
Trade active
25% Position opened at $14,673 per Coinbase.Trade active
25% of position at 12,950 per coinbaseNote
Note
20% Entry at 11,500Note
All three entries in the green less than a week after taking entry.Note
Trade active
Waiting patiently for $8900. No FEAR HODL!Note
Trade active
8900 entry taken. 
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