[BTC] Update! 100% UPSIDE 30%+ DOWNSIDE - THE BEST ENTRY?
Updated
Hello everybody =)
Short update from my prior analysis.
Bitcoin broke the ascending triangle to the upside, bullish sign/good sign.
To the upside, we got a possible 100% gain for a test at 20.000 usd. If 20.000 is broken with a closer over, we can talk about 25k, 30k and so on.
On the downside from this current price point - just around 10.000 usd, we got a highly likely 30%+ drop. Likely down to 3000 levels where btc got strong support from 2017 and the last drop 2020 support at 3800 usd (wick bottom price)
Notice how the volume profile (bars on the right) become small like nothing above 10.500 usd. That means there should be like no resistance to the upside when btc pass 10.500 usd historically.
- BTC is over all major EMA's on the weekly = a good and rare sign.
- RSI & Stoch pointing up on the weekly = good and rare sign.
So, how to get the PERFECT ENTRY?
In my opinion, we are looking at it right now.
The next big move up should break 10.500 - A major resistance since 2017.
Or a big move (rejection) at this current test of the 10.000 usd and the 10.500 usd major resistances and back down to where btc came from or even lower.
So a perfect long would be right here, right not at 10.000 usd. 100% upside, stoploss at around 9000 usd. ( at worst 10% loss)
Perfect short would also be at this price point or at around 9000 usd after the rejection has been confirmed. With an around 10-15% stop loss also.
Remember this is not financial advice but my view of things and if you use margin/short then your stop loss has to be perfect.
Going long spot is easy, just 10% stop loss.
Long = buy
Short = sell
When you trade on Bitmex/Bybit = Margin/Leverage trading for all the people who don't understand short/long.
Spot Trading = Normal trading on Binance like. You can only buy/sell.
Oh btw, if you look at the monthy chart you will notice this up-trend + price point match last years bull-run/up-trend. Summer is always super bullish in my research also stock market wise. (important fundamental)
- Remember, it is the rich who own like 75%+ of all wealth in the world. It is them who decide if btc is going up or down in the end.
I'm trading this idea/analysis my self btw.
Good luck everyone.
I hope my point of view can help you in your trading.
Have a lovely day.
- Confucius-The-Great
Short update from my prior analysis.
Bitcoin broke the ascending triangle to the upside, bullish sign/good sign.
To the upside, we got a possible 100% gain for a test at 20.000 usd. If 20.000 is broken with a closer over, we can talk about 25k, 30k and so on.
On the downside from this current price point - just around 10.000 usd, we got a highly likely 30%+ drop. Likely down to 3000 levels where btc got strong support from 2017 and the last drop 2020 support at 3800 usd (wick bottom price)
Notice how the volume profile (bars on the right) become small like nothing above 10.500 usd. That means there should be like no resistance to the upside when btc pass 10.500 usd historically.
- BTC is over all major EMA's on the weekly = a good and rare sign.
- RSI & Stoch pointing up on the weekly = good and rare sign.
So, how to get the PERFECT ENTRY?
In my opinion, we are looking at it right now.
The next big move up should break 10.500 - A major resistance since 2017.
Or a big move (rejection) at this current test of the 10.000 usd and the 10.500 usd major resistances and back down to where btc came from or even lower.
So a perfect long would be right here, right not at 10.000 usd. 100% upside, stoploss at around 9000 usd. ( at worst 10% loss)
Perfect short would also be at this price point or at around 9000 usd after the rejection has been confirmed. With an around 10-15% stop loss also.
Remember this is not financial advice but my view of things and if you use margin/short then your stop loss has to be perfect.
Going long spot is easy, just 10% stop loss.
Long = buy
Short = sell
When you trade on Bitmex/Bybit = Margin/Leverage trading for all the people who don't understand short/long.
Spot Trading = Normal trading on Binance like. You can only buy/sell.
Oh btw, if you look at the monthy chart you will notice this up-trend + price point match last years bull-run/up-trend. Summer is always super bullish in my research also stock market wise. (important fundamental)
- Remember, it is the rich who own like 75%+ of all wealth in the world. It is them who decide if btc is going up or down in the end.
I'm trading this idea/analysis my self btw.
Good luck everyone.
I hope my point of view can help you in your trading.
Have a lovely day.
- Confucius-The-Great
Note
A little update with some more lines :) Note
If Bitcoin breaks EMA 55 on the daylie chart - It will be a MAJOR common sign that it is dumpy dumpy time. Close to 100% guaranteed historically. If not 100%.
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