BITCOIN Riding the 1DMA50 wave is the best strategy you can have
Bitcoin (BTCUSD) has had an enormous bullish break-out to new All Time Highs (ATH) following last week's U.S. elections. The past 2 days have seen this massive rally turn sideways and as always a certain part of market participants have started calling for big corrections or even bear markets. Once again we will let simple charting show why this sideways price action is nothing but a short-term and mostly necessary consolidation.
** November 2020 vs November 2024 **
This analysis is a comparison of BTC's October 2020 - April 2021 rally with October 2024 - today. We've made idea regarding those time periods in the past but this time we bring a more aggressive picture on the 1D time-frame.
As you can see, on both fractals the 1D RSI started with a Channel Up while the price was still trading sideways/ consolidating within the 1W MA50 (red trend-line) and the Resistance level. That was the first sign of the upcoming Parabolic Rally, which was confirmed after the price broke above the Resistance.
BTC formed a Channel Up itself and right now we are on the November Bullish Leg and its consolidation phase (circle) that has been evident on both fractals. The 2020 - 2021 rally lasted for 164 days after November 01 and rose by +395%.
** The key role of the 1D MA50 **
Even if these time and price lengths aren't replicated, the key here for traders and investors alike is this: From October 09 2020 up until April 18 2021, BTC neve closed a 1D candle below its 1D MA50 (blue trend-line). It was the 1D MA50 that fully supported this 6-month rally, giving excellent buy entries for those seeking dip buying opportunities or those who simply wanted to hold onto their BTCs for as high as possible.
** Just ride the wave **
As a result, a viable and confirmed strategy at this stage of the Cycle (if you don't want to trade the volatility and buy low/ sell why) could be to just sell when finally a 1D candle closes below the 1D MA50. This is what we effectively call 'riding the 1D MA50 wave'.
So what do you think? Are you prepared to hold until the 1D MA50 breaks, are you willing to buy every time the price gets close to it, or simply have a different strategy at this starge? Feel free to let us know in the comments section below!
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** November 2020 vs November 2024 **
This analysis is a comparison of BTC's October 2020 - April 2021 rally with October 2024 - today. We've made idea regarding those time periods in the past but this time we bring a more aggressive picture on the 1D time-frame.
As you can see, on both fractals the 1D RSI started with a Channel Up while the price was still trading sideways/ consolidating within the 1W MA50 (red trend-line) and the Resistance level. That was the first sign of the upcoming Parabolic Rally, which was confirmed after the price broke above the Resistance.
BTC formed a Channel Up itself and right now we are on the November Bullish Leg and its consolidation phase (circle) that has been evident on both fractals. The 2020 - 2021 rally lasted for 164 days after November 01 and rose by +395%.
** The key role of the 1D MA50 **
Even if these time and price lengths aren't replicated, the key here for traders and investors alike is this: From October 09 2020 up until April 18 2021, BTC neve closed a 1D candle below its 1D MA50 (blue trend-line). It was the 1D MA50 that fully supported this 6-month rally, giving excellent buy entries for those seeking dip buying opportunities or those who simply wanted to hold onto their BTCs for as high as possible.
** Just ride the wave **
As a result, a viable and confirmed strategy at this stage of the Cycle (if you don't want to trade the volatility and buy low/ sell why) could be to just sell when finally a 1D candle closes below the 1D MA50. This is what we effectively call 'riding the 1D MA50 wave'.
So what do you think? Are you prepared to hold until the 1D MA50 breaks, are you willing to buy every time the price gets close to it, or simply have a different strategy at this starge? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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