🅱️ (₿) Put Your Money Where Your Mouth Is... A Bull Thinking
Updated
When Bitcoin stopped to consolidate at around $20,500, right after hitting the $21,600 target I immediately thought that I should go long.
This thought came to me because I had a trade from Nov. close at exactly $21,620, all targets hit, yet I knew that additional growth was possible and even had other trades, spot, with higher targets.
At the time I didn't ponder it enough and decided that the previous trade profits should be good enough, not to get greedy, yet my conviction was still that Bitcoin was set to go higher and hit $25,000 $28,000 and even up to $31,000 in this same wave.
When Bitcoin hit $23,000, slowly creeping high which technically counts as staying within the same $21,600+ range, the thought came in again... Go long!
I was caught in a bear situation... Is it too late now?
The risk is too high... I should have done it before.
When I thought about going long it wasn't to see prices stop at $23,000 but rather $28,000 in the least or higher, so seeing the prices at $23,000 only confirms my initial intuition of going long again at $20,500.
Then there is the risk. Bitcoin has been undergoing bullish consolidation without dropping below $22,222, meaning that the risk can be ultra-small and I could still take the trade.
Just set a daily manual stop-loss below $22,200 and go long to see if I can get the rest of the targets that I missed on the initial trade based on the fact that it was done in late November when the mood was so bearish.
Long story continued... I put my money where my mouth is.
I went long again, at high prices which increases the risk but still with a tight stop-loss.
The targets set to be around $25,000, $28,000 and up to $31,000. All set a bit lower than the actual resistance level so they can get filled on the way up.
I already mentioned the stop-loss.
This happened yesterday and today we start green.
It will be for the market to give the final judgement, but the charts signals and the market conditions are with me.
Namaste.
This thought came to me because I had a trade from Nov. close at exactly $21,620, all targets hit, yet I knew that additional growth was possible and even had other trades, spot, with higher targets.
At the time I didn't ponder it enough and decided that the previous trade profits should be good enough, not to get greedy, yet my conviction was still that Bitcoin was set to go higher and hit $25,000 $28,000 and even up to $31,000 in this same wave.
When Bitcoin hit $23,000, slowly creeping high which technically counts as staying within the same $21,600+ range, the thought came in again... Go long!
I was caught in a bear situation... Is it too late now?
The risk is too high... I should have done it before.
When I thought about going long it wasn't to see prices stop at $23,000 but rather $28,000 in the least or higher, so seeing the prices at $23,000 only confirms my initial intuition of going long again at $20,500.
Then there is the risk. Bitcoin has been undergoing bullish consolidation without dropping below $22,222, meaning that the risk can be ultra-small and I could still take the trade.
Just set a daily manual stop-loss below $22,200 and go long to see if I can get the rest of the targets that I missed on the initial trade based on the fact that it was done in late November when the mood was so bearish.
Long story continued... I put my money where my mouth is.
I went long again, at high prices which increases the risk but still with a tight stop-loss.
The targets set to be around $25,000, $28,000 and up to $31,000. All set a bit lower than the actual resistance level so they can get filled on the way up.
I already mentioned the stop-loss.
This happened yesterday and today we start green.
It will be for the market to give the final judgement, but the charts signals and the market conditions are with me.
Namaste.
Note
Bitcoin CME Futures selling for a premium.Currently trading at $23,915 with a daily high of $24,080 30-Jan.
Rising window as trading opens.
We have a good start.
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