BitcoinLong
BTCUSD - hoping for a small retrace?
The last idea worked out well, however, the "buy a lot on 01 November" part did not yet as most of the gains were made in October. As always, it is best to buy BTC when it is the scariest - that is, at 25k when everyone was making ridiculous predictions about how we're going to touch 20k / 16k / 1k.
I wouldn't mind a small pullback to around 35k - 36k won't really change the pattern. I would expect us eventually to break the supposedly weak resistance at around 38-40k and retest the 60k+ ATH. It is surprising to me that someone is aggressively selling at 38k - 38.5k. Should BTC pull back, the zone around 33k would be the worst guessing zone: should I buy more, or is it time to close the position?
2 ways to play this safe:
(1) Close at around 38k - 38.5k and wait out until we either break above 39-40k, or go significantly lower, or
(2) Aggressively buy pullbacks to 35.5k-36k with a stop-loss at below 35k (34,690?).
It could be a good time to gamble with altcoins while we float around 36k-38k, but I don't do that.
I wouldn't mind a small pullback to around 35k - 36k won't really change the pattern. I would expect us eventually to break the supposedly weak resistance at around 38-40k and retest the 60k+ ATH. It is surprising to me that someone is aggressively selling at 38k - 38.5k. Should BTC pull back, the zone around 33k would be the worst guessing zone: should I buy more, or is it time to close the position?
2 ways to play this safe:
(1) Close at around 38k - 38.5k and wait out until we either break above 39-40k, or go significantly lower, or
(2) Aggressively buy pullbacks to 35.5k-36k with a stop-loss at below 35k (34,690?).
It could be a good time to gamble with altcoins while we float around 36k-38k, but I don't do that.
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