Bitcoin Big Dive Coming!
Updated
G'day friends!! The price cycle we use at Cryptonite is playing out. We're either at shallow 6 with a stretching for 7, or yet to find 6. We will know in due course. Either way we can see we are in the general range for shorting again after taking profits on that first dive from the shorts we took at $5600. May the 4th be with 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. ***
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
The price cycle appears to have progressed a little faster than I have drawn it, so here is the updated chart. We are at pt 7 of 7 in the price cycle. 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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